Trading NR7 setup

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AW10

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AW10

Well-Known Member
today was magic of NR7?? :)
Yes Vicky, that's how market behaves... if a spring is compressed to such an extent then this is the only reaction u can see.. It can't remain in compressed state for long time.

today's range of 200+ pts is biggest range that has come since 6-July (budget day range of 346 points). Such big range day moves are generally trend setter for next few days.

If we call budget day as exceptional day, then last time when we saw 200 pts move was n 8/June when market dropped by 206 points (CMP was 4561 on prev trading day). It did bounce back in next 2 days to go to 4700 level but that gave the first sign of trend change from Uptrend to sideway. On budget day, we had another wide range day and then market fell to sub-4000 level.

Thats good enough for big picture. Lets trade each day as it comes.

Happy Trading
 

AW10

Well-Known Member
Plz search this thread. There were posts with Amibroker code.
It should not be tough to develop this. You should be able to find that on net as well.

Would appreciate if you get any good link/code on net on this topic and i will include them on first few reserved posts for the benefits of others as well.

Happy Trading
 

MurAtt

Well-Known Member
Code:
_SECTION_BEGIN("NR Days");
/************************************************************************************
    Consolidate all NR1(Inside Day), NR4 and NR7 ideas  from Amibroker &
Metastock
    from different forums.
    Advisory price chart display

    Based on "Day Trading With Short Term Price Patterns And Opening Range
Breakout"
    By Toby Crabel

    The Option:
      1) NR4 - Show NR4 & NR1
      2) NR7 - Show NR7 & NR1
      3) All - Show NR1, NR4, NR7

    Created By TohMz

****************************************************************************/


_N(Title = StrFormat("{{NAME}}- {{INTERVAL}} {{DATE}} O= %g, H= %g, L= %g, C=
%g (%.1f%%) V= " +WriteVal( V, 1.0 ) +"\n{{VALUES}}", O, H, L, C,
SelectedValue( ROC( C, 1 )) ));
PriceStyle = GetPriceStyle();
PriceStyleOpt = ParamStyle("Style") | PriceStyle;

if (PriceStyle==styleCandle)
   Plot( C, "", colorBlack,  PriceStyleOpt); 
else
   Plot( C, "", IIf( Close >= Ref(C, -1), colorBlue, colorRed ),
PriceStyleOpt);


NRx = ParamList("4 or 7 Days Narrow Range", "All|NR4|NR7");

rang=High-Low;

if (NRx=="NR4" OR NRx=="All")
{
   nr4=IIf(rang==LLV(rang,4),shapeDigit4,shapeNone);
   PlotShapes(nr4,colorRed,0,L);
}

if (NRx=="NR7" OR NRx=="All")
{
   nr7=IIf(rang==LLV(rang,7),shapeDigit7+shapePositionAbove,shapeNone);
   PlotShapes(nr7,colorGreen,0,H);

}

InsideBar = Inside() OR (Ref(H, -1)==H AND Ref(L, -1)<L) OR (Ref(H, -1)>H AND
Ref(L, -1)==L);
nr1=IIf(InsideBar, shapeDigit1,shapeNone);

PlotShapes(nr1,colorBrown,0,(L+H)/2);
GraphXSpace = 5;
_SECTION_END();
This give visual indicator of NR4/7 and NR1
BUT
No SCAN / EXPLORATION for full list as Rohan gives.

Maybe someone can edit the same to suit OUR needs :D
 

rohangawale

Well-Known Member
NR7 stocks of nifty triggered on 17th aug are:

Code:
STOCK		HIGH		LOW
HDFC BANK	1420.75		1395
 

vicky_ag

Well-Known Member

AW10

Well-Known Member
AW10,

I completely agree they are different but just a thought. I mean, here on traderji, we can give a name. ANR - AW10's narrow range, after we develop something substantial. ;)
Thanks Vicky for this suggestion. But I think I have not done anything new here.
The credit goes to Toby Carbel for publishing these patterns first. And then Linda Raschke for further work on it.

I am just sharing what I know.

Happy Trading
 
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