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# Technical Studies Reference

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### Initial Balance

The Initial Balance study calculates and displays lines on the chart calculated from the High to Low price range for the specified period of time set with the study Inputs.

For example, if the **Initial Balance Type** is set to **Daily** and the **Start Time** is set to **9:30:00** and the **End Time** is set to **9:59:59**, then the price range for this time period is the Initial Balance.

This study supports up to 6 extension lines above and below the High and Low Initial Balance lines. The multiplier for these lines is set through the **Extension Multiplier #** study Inputs.

Alternatively, it is possible to use the High/Low for Time Period study to calculate and draw Initial Balance lines.

The time period specified by the **Start Time** and **End Time** study Inputs, that the Initial Balance is calculated from *cannot* be less than the timeframe of the chart bars. And the timeframe of the chart bars must be *evenly divisible* into the Initial Balance time period for the Initial Balance lines to be accurate.

For example, if the Initial Balance is set to be a time period of 10 minutes, it is not possible to calculate this from chart bars with a 30 minute timeframe per bar.

For example, the Initial Balance lines for a 10 minute period will not be completely accurate if the chart bars are 3 minutes because 3 does not divide evenly into 10. The Initial Balance lines will also not be precise on chart bars which have a variable time period per bar like Number of Trades, Volume, Range, Reversal, Renko, Delta Volume, Price Change, Point and Figure Bars. However, there is a solution to this and that is to overlay the Initial Balance lines using the Study/Price Overlay study from a chart with the appropriately set time period per bar.

Additionally, when using Number of Trades, Volume, Range, Reversal, Renko, Delta Volume, Price Change, Point and Figure Bars, the Initial Balance lines cannot be completely accurate and will not match with the Initial Balance lines on a chart which uses fixed time frame bars.

Another consideration is that the time range you have set for the Initial Balance study can be incorrect. If you have specified the **End Time** as 10:30:00, then you will get an additional 5 minutes that will go into the calculation for 5 minute chart bars. The **End Time** Time should be entered as 10:29:59 instead.

#### Inputs

**Initial Balance Type**: This Input sets the overall timeframe of the Initial Balance calculations. The choices are**Daily, Weekly, Weekly Include Sundays, Intraday**.

When this Input is set to**Intraday**, then the Initial Balance lines repeat by the time specified by the**Intraday: Num Minutes**Input setting, within the**Start Time**to**End Time**time range.

When this Input is set to**Weekly**then the starting day is the Monday of each week and and when this Input is set to**Weekly Include Sundays**then the starting day is the Sunday of each week.**Start Time**: This Input specifies the starting time for the Initial Balance when the Input**Start End Time Method**is set to**Use Start/End Time**.

If the time range between the**Start Time**and**End Time**is not included in a particular trading day on the chart, then there will not be any Initial Balance lines displayed for that trading day. The prior trading day will*not*be referenced in this case. The starting and ending of a trading day is defined by the Session Times settings for the chart.**End Time**: This Input specifies the ending time for the Initial Balance when the Input**Start End Time Method**is set to**Use Start/End Time**. This ending time is included in the time range.

Also refer to the information provided with the**Start Time**Input.**Weekly: Num Days**: In the case of when the**Initial Balance Type**is set to**Weekly**or**Weekly Include Sundays**, this specifies the ending day of the Initial Balance by setting the number of days from the start of the week (including the starting day). The**End Time**is used along with this Input to determine the overall ending Date and Time for the Initial Balance.

For example: if the**Initial Balance Type**is**Weekly**, the**Start Time**is**09:30:00**, the**End Time**is**11:59:59**and the**Weekly: Num Days**is**3**, then the Initial Balance time period starts each Monday at 09:30:00 and ends on each Wednesday at 11:59:59.**Round Extensions to Tick Size**: When this Input is set to**Yes**, then the resulting values of each of the Extension lines is rounded to the nearest chart**Tick Size**.**Number of Days to Calculate**: This Input specifies the number of days to calculate and display Initial Balance lines for. This specifies the number of calendar days to calculate from the last date in the chart and looks backwards. Therefore, if the last day in the chart is 2016-01-30 and**Number of Days to Calculate**is set to 10, then the first date that the Initial Balance lines will be calculated for and displayed on is 2016-01-21.**Intraday: Num Minutes**: When the**Initial Balance Type**Input is set to**Intraday**, then the Initial Balance lines repeat by the time specified by the**Intraday: Num Minutes**Input setting, within the**Start Time**to**End Time**time range. If the number of minutes specified with this Input exceeds the time range between**Start Time**to**End Time**, then no lines will display.**Start End Time Method**: This specifies the method to use for determining the Start Time and End Time for the Initial Balance. The following options are available:**Use Start/End Time**: When this option is selected, the times defined by the**Start Time**and**End time**Inputs are used.**Use Session Start Time and Minutes From Start**: When this option is selected, the starting time of the Initial Balance is determined from the Chart Session Start Time and the ending time is determined by adding the minutes defined by the Input**Period End as Minutes From Session Start**.

**Period End As Minutes from Session Start**: This defines the number of minutes from the Session Start time that is used to determine the ending time of the Initial Balance, when the**Start End Time Method**is set to**Use Session Start Time and Minutes From Start**.- Extension Multiplier 1: This description applies to this Input and the following
**Extension Multiplier #**Inputs.

The difference between the**Initial Balance (IB) High**and the**Initial Balance (IB) Low**Subgraphs is calculated. This is the Range. This Range is multiplied by the value of the**Extension Multiplier 1**. This amount is then added to the Initial Balance High value and subtracted from the Initial Balance Low value. These results then are drawn as the*extension lines*.

By default, all of the extension are not visible because the**Draw Style**for them is set to**Ignore**. To see a particular extension line, go to the Subgraphs tab of the Study Settings window and set the Draw Style for it to**Line**. - Extension Multiplier 2: Refer to the description for the
**Extension Multiplier 1**Input. - Extension Multiplier 3: Refer to the description for the
**Extension Multiplier 1**Input. - Extension Multiplier 4: Refer to the description for the
**Extension Multiplier 1**Input. - Extension Multiplier 5: Refer to the description for the
**Extension Multiplier 1**Input. - Extension Multiplier 6: Refer to the description for the
**Extension Multiplier 1**Input.

*Last modified Monday, 15th April, 2019.