Atas Custom Indicator Sessions Open Daily Close Initial Balance

This indicator displays key trading session levels based on the Initial Balance (IB) concept, widely used in futures and forex trading. It highlights the session open line, the previous session's daily close line (extended for reference), and a customizable transparent IB zone covering the price range established during the first N minutes of the session.

Key features include IBH (IB High), IBM (IB Middle), and IBL (IB Low) lines, along with dynamic IBx extensions that appear progressively as price breaks through prior levels: IBx1H/L (1x IB range), up to IBx10H/L (configurable). Optional IBxM midpoint lines display between extensions only if the IB range exceeds a configurable minimum threshold, preventing cluttered charts.

Fully customizable, the indicator lets you set session times, IB duration (in minutes), max extensions (1-20), colors, line widths, styles, and label font sizes. Rooted in market profile and auction market theory, the Initial Balance defines the session's initial price range, with extensions often acting as support, resistance, and target levels.