147 Relative position to after hour market

Price variation after trading hours is well know to be very volatility due to reduced liquidity. After opening predictable price patterns came occur.

This indicator calculates the price position of a given candle relative to the prior minimum and maximum price during off market hours (i.e., minimum and maximum price from 4pm to 8 pm the prior day and 4am to 9:30am from the current day).

A value of +2 indicates that the given candle is twice the range between the minimum and maximum price after trading hours. If positive, the candle is above the maximum after hour price. If negative, the candle is below the minimum after hour price.

Figure 14.16: Relative to After hour