Market Balance Level

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Market Balance Level (MBL)

This indicator dynamically identifies price consolidation zones (market balance levels) and plots a horizontal line at the average midpoint of the range once a valid breakout occurs. It helps traders visualize key zones where the market was previously in equilibrium and is likely to retest before continuing its trend.

How It Works:

Detects consolidation ranges using consecutive candles within a tight high-low structure.

When a breakout occurs (above or below the range), it plots a line at the average midpoint of the consolidation.

Triangles are drawn on breakouts to visually confirm the breakout direction.

Lines can be customized by color, width, and breakout direction (bullish, bearish, or both).

Recommended Use:

Wait for price to return to the Market Balance Level (MBL). These levels often act as strong support or resistance.

Enter upon engulfment (candle closes strongly in the direction of the breakout), confirming continuation.

Features:

Adjustable consolidation sensitivity and line length.

Option to show/hide bullish or bearish MBLs.

Visual breakout markers (triangles) with alert support.

Optional alert messages for breakout events.

Use this tool to enhance your structure-based or SMC-style trading strategies.

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Copyright tag added

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New Feature: Two Consolidation Modes

Stable Mode: Locks the range from the first qualifying candle. The balance level is drawn immediately after the consolidation period, giving quicker signals based on a fixed range.

Static Mode: Dynamically adjusts the consolidation range as long as price remains inside it. Draws the balance level only after a valid breakout, ideal for confirming mature zones.

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Title updated

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Terminology fix

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Line creation logic updated for more efficient plotting.

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Terminology fixed within code

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Terminology fixed within code

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Inputs fixed + new input (dim mitigated lines)

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Delete mitigated lines input added

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Mitigation logic updated

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Now uses SMA. Use 1 SMA if you prefer raw candle data

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Input default updated

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Chart updated

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Updated terminology for modes