Al Brooks Open Quality Status

18 May

This indicator helps traders objectively evaluate the quality of the market open, based on core concepts from Al Brooks’ price action methodology.

It analyzes the most recent bars (default: 18) after the regular session opens at 09:30 ET, to determine whether conditions favor breakout trading or indicate a choppy, range-bound environment that should be avoided.

🔍 How It Works

The algorithm checks:
• ✅ Opening Range Strength – compares price range vs. ATR
• ✅ Small Body Bar % – high % = indecision and poor follow-through
• ✅ Bar Overlap % – tight overlap signals trapped, two-sided price action
• ✅ Optional RTH-only analysis toggle – to focus strictly on the NY session

If all conditions are favorable, the indicator will show:
✅ Good to Trade
If not, it will display:
⚠️ Choppy Conditions or ⏳ Waiting for 09:30 before the session begins.

A color-coded info box in the top-right corner summarizes the current environment.

18 May

Sürüm Notları

🔄 Update Notes – May 2025

This update brings significant improvements based on Al Brooks’ breakout logic:

⸻

✅ What’s New
• 🕘 RTH Countdown Added
Displays a live countdown showing how many bars remain until bar 18 forms (after 09:30 NY open).
• 📊 Bar 18 Breakout Logic (Refined)
Directional bias (📈 Bullish / 📉 Bearish) now only activates after bar 18 has fully formed, ensuring clean signal logic.
• ⚠️ Breakout Mode Detection
If both sides of the bar 18 range are touched but no breakout occurs, the table flags it as “⚠️ Breakout Mode — Expect Expansion.”
• 🎯 Improved Logic Clarity
Labels like “⏳ Waiting for Bar 18” and “⌛ Bars until Bar 18: X” provide clear feedback pre-breakout.