4H IB + BO Midpoint – [SANIXLAB]

This indicator plots the Initial Balance (IB) high and low for each 4-hour period and automatically calculates potential breakout levels and midpoints.

At the start of every new 4-hour block the script:

Captures that block’s high and low (Initial Balance),

Draws horizontal lines at the IB high, low and midpoint,

Calculates breakout targets above and below the IB using (optional) extension factor,

Creates horizontal lines at those breakout levels and their midpoint,

Breakout areas extend as new bars arrive.

[SANIXLAB]
MR.L