OPEN-SOURCE SCRIPT
Updated Balance Zone Projector
OVERVIEW
Projects balance zones above and below up to 3 anchor zones. Each zone represents a 2x, 4x, 8x... multiple of the original anchor height, helping you identify key price levels for entries, exits, and targets.
HOW TO USE
1. Add the indicator to your chart
2. Click to set Anchor 1 High (top of your zone)
3. Click to set Anchor 1 Low (bottom of your zone)
4. Zones automatically project above and below
MULTIPLE ANCHORS
Enable Anchor 2 and Anchor 3 in settings to track multiple zones at different time periods. Each anchor has its own:
- High/Low prices
- Bars Back (where to start drawing)
- Bars Forward (zone width)
ZONE GROUPS
Zones are colored by group for easy identification:
- Group 1: Zones 1-2 (nearest to anchor)
- Group 2: Zones 3-6
- Group 3: Zones 7-14
- Group 4: Zones 15-30
CUSTOMIZATION
- Enable/disable up or down projections
- Adjust colors and transparency per zone group
- Show/hide zone labels and midlines
- Customize label text templates
SETTINGS
All anchors share the same visual settings (colors, labels, midlines) for consistency. Individual anchor timing is controlled per-anchor.
Based on the Balance Zone Engine concept for Sierra Chart.
Projects balance zones above and below up to 3 anchor zones. Each zone represents a 2x, 4x, 8x... multiple of the original anchor height, helping you identify key price levels for entries, exits, and targets.
HOW TO USE
1. Add the indicator to your chart
2. Click to set Anchor 1 High (top of your zone)
3. Click to set Anchor 1 Low (bottom of your zone)
4. Zones automatically project above and below
MULTIPLE ANCHORS
Enable Anchor 2 and Anchor 3 in settings to track multiple zones at different time periods. Each anchor has its own:
- High/Low prices
- Bars Back (where to start drawing)
- Bars Forward (zone width)
ZONE GROUPS
Zones are colored by group for easy identification:
- Group 1: Zones 1-2 (nearest to anchor)
- Group 2: Zones 3-6
- Group 3: Zones 7-14
- Group 4: Zones 15-30
CUSTOMIZATION
- Enable/disable up or down projections
- Adjust colors and transparency per zone group
- Show/hide zone labels and midlines
- Customize label text templates
SETTINGS
All anchors share the same visual settings (colors, labels, midlines) for consistency. Individual anchor timing is controlled per-anchor.
Based on the Balance Zone Engine concept for Sierra Chart.
Release Notes
OVERVIEWProjects balance zones above and below up to 3 anchor zones. Each zone represents a 2x, 4x, 8x... multiple of the original anchor height, helping you identify key price levels for entries, exits, and targets.
HOW TO USE
1. Add the indicator to your chart
2. Click to set Anchor 1 High (top of your zone)
3. Click to set Anchor 1 Low (bottom of your zone)
4. Zones automatically project above and below
MULTIPLE ANCHORS
Enable Anchor 2 and Anchor 3 in settings to track multiple zones at different time periods. Each anchor has its own:
- High/Low prices
- Bars Back (where to start drawing)
- Bars Forward (zone width)
ZONE GROUPS
Zones are colored by group for easy identification:
- Group 1: Zones 1-2 (nearest to anchor)
- Group 2: Zones 3-6
- Group 3: Zones 7-14
- Group 4: Zones 15-30
CUSTOMIZATION
- Enable/disable up or down projections
- Adjust colors and transparency per zone group
- Show/hide zone labels and midlines
- Customize label text templates
SETTINGS
All anchors share the same visual settings (colors, labels, midlines) for consistency. Individual anchor timing is controlled per-anchor.
Based on the Balance Zone Engine concept for Sierra Chart.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.