Above/Below All Table

This indicator provides a snapshot of where various markets are in reference to 4 key opening times. These key times are:

18:00 (Globex open)
00:00 (Midnight open)
9:30 (RTH open)
9:45 (End of first 15 minutes of RTH)

The trading concept here is that price is likely to revert back into the current daily range if it is below all 4 of the time-based prices or above all of the time-based prices. When price is between those levels it will often chop around and be harder to navigate.

This indicator provides traders with a snapshot of price relative to those 4 levels across up to 6 different tradable instruments, indicating which direction price is expected to move for each of those instruments. This way, the trader can see which instruments are expected to potentially reverse and which ones are more likely to chop. In this way, they can select which markets to focus their attention on based on this key snapshot.

Used in conjunction with https://www.tradingview.com/script/hAFpTBR2-Opening-Range-Legstart-Finder/ for entries, this strategy can help traders to avoid trading instruments that are less likely to move favorably on a given day.

Warning: this strategy will be ineffective on trending days as price is less likely to revert into a range on days where it is trending. It is recommended to use a trend strength tool to identify potential days where this may occur.