Al Brooks Open Quality Status

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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.

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Note di rilascio

🔄 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.