Initial Balance Wave Map

Initial Balance Wave Map marks the first hour after the New York open on MT5, projects
that hour's range outward in halves and multiples, and puts a number on whether the hour
was unusually wide or unusually quiet.

The hour, and everything measured from it

The window is 9:30 to 10:30 by default, in a timezone you set with one input (-5, New
York). While that hour runs, nothing is drawn. When it closes, the indicator takes its
high and low — call the distance between them Δ — and lays out the map:

Everything is a multiple of that one hour. Nothing comes from a setting you tuned or a
round number.

The shaded box is the window itself, so you can see at a glance which candles the whole
map was built from.

The panel is the part I'd keep

Levels are levels. The corner panel is what you can't get by eye.

20-day Max    49.1180
20-day Mean   31.8234
20-day Min    18.1180
Today Δ       31.8950
Status        Average

It holds the widest, average and narrowest initial balance of the last twenty sessions,
today's alongside them, and a one-word verdict.

Be clear about what that word means: Status is whichever of the three today's range is
closest to. Nearest to the max, it says Wide. Nearest to the min, Narrow. Otherwise
Average. It isn't a percentile and it isn't a standard-deviation band — it's a
three-way nearest match, and knowing that is the difference between reading it right and
over-reading it.

The twenty sessions are the ones before today. Today's range is compared against them
and only then joined to the list.

That EURUSD session came in at 0.0010 against a 20-day mean of 0.0013 and a minimum of
0.0008 — near the floor, so Narrow. A day like that argues for smaller targets on the
extension levels, and the panel says so before the session develops.

Use it on M30 or lower

A one-hour window on an M15 chart is four candles, which is a box you can see and levels
that have somewhere to run. On H1 it's a single candle, and the whole map compresses into
a sliver at the right of the screen.

It still calculates correctly there. It's just not much use. On D1 and above it does
nothing at all and draws nothing — that's a deliberate early return, not a failure.

M5 and M15 are where this belongs.

Yesterday goes away

Keep only today's levels is on by default, so when a new session's window opens the
previous day's lines are deleted. Turn it off and they accumulate, which is worth doing
for a few days if you want to see how often price actually reaches x2.

The tinted zone has its own switch, Keep only today's tinted zone, off by default — so
the boxes pile up even when the lines don't. If your chart is turning orange, that's the
one to turn on.

Repainting, honestly

The map is built when the window closes, from the candles inside the window, all of which
are finished by then. A level never moves afterwards.

The one thing to know is that the levels appear on the bar immediately after the window
ends, and that bar is still forming when they show up. The values are already final — they
came from closed candles — but if you're watching the moment they appear, they arrive one
bar early relative to how it looks in history.

It has buffers, but read this first

Nine indicator buffers are declared, one per level, all DRAW_NONE. So an EA can reach
them with iCustom.

The catch: a buffer only holds its value on the single bar where the window closed.
Every other bar is 0.0. That's not a bug so much as a consequence of how the levels are
stored, but it means an EA can't just read bar 1 and get the IB high — it has to walk
back until it finds the non-zero entry for the session it wants.

Buffer order is hx30, hx20, hx05, h, m, l, lx05, lx20, lx30 — high side first, from
furthest out to the high itself, then the mid, then the low side.

What it doesn't do

• No alerts. Nothing fires when price reaches a level or breaks the range.
• No arrows, no entries, no stops.
• One session per day. It's the New York initial balance, not a per-session map of
  London and Asia too.
• Nothing above H4. On daily charts it returns immediately.
• Status is a nearest-of-three label, covered above, not a statistical band.

Settings I'd start with

Set Timezone first, before anything else. The default is −5, which puts the window at
the New York cash open. If your levels are landing in the middle of the Asian session,
this is the input that's wrong, not the indicator.

Leave the window at 9:30–10:30. It's the definition of initial balance. If you want the
first thirty minutes instead, 9:30–10:00 works and every level rescales to it.

Then turn Keep only today's tinted zone on, because the boxes are the first thing to
clutter a chart.

Questions you'll have

Does Initial Balance Wave Map repaint? No. Levels are built from the candles inside a
window that has already closed, and they never move afterwards. They first appear on the
bar right after the window ends, which is still forming at that moment.

Why do I see nothing on my daily chart? It returns immediately on D1 and above by
design. Use M5 to M30.

How do I change the session? The two window inputs, plus the Timezone input. The
window times are read in the timezone you set, not the broker's.

What does Status actually measure? Which of three numbers today's range is closest to:
the 20-day maximum, minimum, or mean. Nearest the max is Wide, nearest the min is Narrow,
anything else is Average.

MT4? MT5 only. There's no MT4 build of this one.

Can I read the levels from an Expert Advisor? Yes, through the nine buffers, but each
one only carries a value on the bar where that session's window closed. Every other bar
reads 0.0, so an EA has to search backwards rather than read the latest bar.

What does x2 mean — twice the range, or one range beyond the high? One range beyond
the high. High x2 sits at IB High plus Δ, so the distance from IB Low up to it is two
ranges.

The MT5 build is included with a subscription. This listing makes no profitability claim:
the indicator measures an hour and projects it, and nothing about a projected level says
price will reach it. You won't find a win rate table here, and I'd be careful with any
indicator listing that has one.