Hi All
NR21 means Narrow Range bar of last 21 days.
Many people are profitably trading on NR4 and NR7 setup. NR21 is just a next step of these setups.
Why we should follow NR21 instead of NR4 / NR7 ?
Too many stocks comes while scanning for NR4/NR7 which creates confusion which one to select for next day trading and which one to leave. Too often we see that our selected stock on NR7 did not performed well but the one which we did not traded is doing very well.
Stocks falling in NR21 are lesser in comparison of NR4 and NR7 so we have to track lesser stocks
Some times NR4 and NR7 just happen because over all market traded in small range or may be because particular sector traded in small range.
This problem is reduced to greater extent in NR21
How to Trade these setups
Buy above high of NR21 or short below low of NR21
Stop-loss: 1 %
Target 1%
How to Find these NR21 stocks
1) Many members are already calculating NR7 in excel same thing can be done for NR21 with little modification. I hope some members will come forward to help us.
or
2) If you are using Amibroker then some member can make AFL for this, you can request in Amibroker section. We have many members with helping nature.
or
3) I personally using and actually found this system in Keystocks software which has been created by one of our traderji member
Free version of Keystocks i.e Keystocks-Lite is available without any registration or Activation. At present on their site it is written that software is free for one Year but when i contacted, He said he will be providing it free for ever.
Benefit of this Keystocks-Lite
i) Data is downloaded and updated by just one click
ii) With Excel or AMI we have to first scan then view those stocks in chart by clicking them one by one while in Keystocks-lite scan results comes directly in Charts Images. So its real time saver, i have attached an image for explanation.
You can download Keystocks-Lite from here http://www.traderji.com/software/86...ystocks-lite-available-free-2.html#post804597
NR21 means Narrow Range bar of last 21 days.
Many people are profitably trading on NR4 and NR7 setup. NR21 is just a next step of these setups.
Why we should follow NR21 instead of NR4 / NR7 ?
Too many stocks comes while scanning for NR4/NR7 which creates confusion which one to select for next day trading and which one to leave. Too often we see that our selected stock on NR7 did not performed well but the one which we did not traded is doing very well.
Stocks falling in NR21 are lesser in comparison of NR4 and NR7 so we have to track lesser stocks
Some times NR4 and NR7 just happen because over all market traded in small range or may be because particular sector traded in small range.
This problem is reduced to greater extent in NR21
How to Trade these setups
Buy above high of NR21 or short below low of NR21
Stop-loss: 1 %
Target 1%
How to Find these NR21 stocks
1) Many members are already calculating NR7 in excel same thing can be done for NR21 with little modification. I hope some members will come forward to help us.
or
2) If you are using Amibroker then some member can make AFL for this, you can request in Amibroker section. We have many members with helping nature.
or
3) I personally using and actually found this system in Keystocks software which has been created by one of our traderji member
Free version of Keystocks i.e Keystocks-Lite is available without any registration or Activation. At present on their site it is written that software is free for one Year but when i contacted, He said he will be providing it free for ever.
Benefit of this Keystocks-Lite
i) Data is downloaded and updated by just one click
ii) With Excel or AMI we have to first scan then view those stocks in chart by clicking them one by one while in Keystocks-lite scan results comes directly in Charts Images. So its real time saver, i have attached an image for explanation.
You can download Keystocks-Lite from here http://www.traderji.com/software/86...ystocks-lite-available-free-2.html#post804597
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