Initial Balance Breakouts with Trend Filters and Scaled R Exits

Summary

This intraday strategy builds an Initial Balance (IB) range during a configurable session window and uses subsequent price action around its high and low to frame long and short setups. The script includes a trigger moving average and optional higher-timeframe moving average filter, along with filters based on prior week and day levels, pre-market highs and lows, overnight low, IB size, and day of week. It supports configurable session times and timezone.

Trade management is extensive: stops can be placed beyond confirmed swing pivots with point or percentage offsets, position size can be fixed or calculated from a dollar risk amount and stop distance, and exits can be scaled at several R multiples. A break-even stop, entry cutoff, and forced end-of-day close are also configurable. The code includes status displays and alerts, but the supplied document contains no performance report or evidence that the many available filters improve results. Outcomes depend on settings, market, and execution assumptions.

Key ideas

• The strategy forms an Initial Balance range over a configurable time window and trades setups based on price action around its boundaries.
• A short moving average can trigger entries, while higher-timeframe and price-level filters can restrict trade direction.
• Stops can reference confirmed swing pivots, and sizing can be fixed or based on dollar risk and stop distance.
• Positions can be scaled out at configured R multiples, moved to break even, and closed at a session cutoff.
• The document describes configurable rules but supplies no performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.