Trading NR7 setup

[rohangawale]

NR7 Stock Triggered on 16th Sept:

[B]STOCK		HIGH		LOW[/B]
[B]AXIS BANK	920.8		904.55[/B]
ITC		232.55		229.35
MARUTI		1530		1495.15
REL CAP		933.9		915.5
R COM		310		304.2
SUZLON		100.5		98.2
TATA COMM	486.5		479.05
UNITECH		114.4		112.25

Axis Bank is 3NR7 with upside breakout. Lets c how it reacts tomo.

Close of NR7 stock as on 17th Sept:

		[B]16-Sep			17-Sep	
STOCK		HIGH	LOW		Close	Trigger[/B]
AXIS BANK	920.8	904.55		911.85	No Breakout
ITC		232.55	229.35		228.80	Down Break
MARUTI		1530	1495.15		1559.95	Up Break
REL CAP		933.9	915.5		911.70	Down Break
R COM		310	304.2		312.65	Up Break
SUZLON		100.5	98.2		97.95	Down Break
TATA COMM	486.5	479.05		485.05	No Breakout
UNITECH		114.4	112.25		110.15	Down Break

 

[rohangawale]

nifty range is only 59points today.
but still was not feeling that mkt was sideways as it was giving moment regularly.
was not sitting idle at one place.

 

[rohangawale]

NR7 Stocks Triggered on 17th Sept:

[B]STOCK		HIGH		LOW[/B]
GAIL		358.8		349.65
HDFC BANK	1539		1520.7
IDEA		76.8		75.5
STERLITE	789.65		767.2

 

[rohangawale]

Todays range of nifty till now is only 41 points.
heading towards another NRXXX.
High=4972.9
low=4931.9

 

[AW10]

What a turnaround Rohan.
From this

----
i never used to control my trades. may be winning or loosing trades. i used to put trade after trade. for me it was like compulsion k im a trader means i have to do trades in any mkt condition.

in my mind i always used to think k tomo i will not do what i have done today, but no maintaining of trading journal, no mentioning my daily trades, so next day again i used to do same things.
bla bla blaaaaaaaaaaaaaaa..........

IT WAS REALLY NEVER ENDING OF MY FOOLISHNESS DONE IN TRADING.
----
it was just like SATTA. and i dont want to become a gambler. i want to be a TRADER.
-------

To this

but now its really a different thing.
now i have everything and maintianing all the things which i was not doing right from money management, psycology, stoploss, rules, trading journal, strategy, limited trades, limited stocks, everything which is possible for me.

lets c what happens ahead.

Great turnaround story.. Almost everybody (Including me) will relate themselve to first part of it. And those who have become consistently profitable trader, will also agree with second part of your experience.

All the best for your new trading approach..

Happy Trading

 

[lazytrader]

Every successful trader has somewhat the same story.
http://www.traderji.com/general-tra...1474-hidden-gems-traderji-com.html#post344090

 

[asnavale]

Anant,

NR7 an NR4 are as you have understood.
NR1 (we are talking NR - that is why I termed it as NR1) bcoz it is the first day narrow range and inside the body of the last candle - which is actually Inside Day.
To be more particular, if we had the inside day tag on the real body of the candle rather than the shadow, it would be iciing on the cake (basically instead of HL, we would use Open and Close).

As regards the listing, we can have NR7, NR4 and Inside Day lists separately (but in a single report) or we can have the option of looking for only NR7 or only NR4 etc. whichever is easier (as AW10 has said earlier too and me also feeling the same that in this volatility NR4 is ok, NR7 is the main candle to look forward to).

Again some complications would arise as to if a NR7 can also still be an Inside Day, same with NR4. I feel these would be more powerful breakouts / breakdowns than the normal NR7/4 days.

Asking for too much

Thanks once again ...

Hi Murtaza Bhai,
ID MUBARAK

I have modified the AFL for NR strategy to show IDNR, NR7 and NR4 in the chart. I am attaching the chart below. In the present form, the AFL shows IDNR only if it is also NR4 or NR7. It does not show IDNR alone when the conditions for NR4 or NR7 are not satisfied. Just look at the chart below and see whether you need some more modification such as show all IDNR even when NR4 or NR7 conditions are not satisfied. Once I get inputs from you I will make the AFL to generate reports also.

Regards

-Anant

 

[AW10]

Great work Anant.
Just few a suggestion -
1) As you had mentioned earlier that all NR7 days are also NR4 ,NR6 days as well. So it makes no sense to reflect NR4 and NR7 on a NR7 bar. IMO, just NR7 is sufficient. By putting NR4 on this bar just clutters the chart with redundant info.

2) You don't have to wait for NR4 day to mark an ID. Any bar can be marked as ID, as long as it meets the criteria.
I don't know the flowchart of your AFL script.. But If I have to give this as requirement then I would say following
- Check for ID. Set ID-Flag appropriately
- Check for NR7. Set NR7-flag
- Check for NR4. Set NR4-flag

- If (NR7-Flag and NR4-Flag), then Display-Flag = NR7 end-if
- If Display-Flag empty, and NR4-flag = yes, then display-flag = NR4
- If ID-Flag = yes, then concatenate "ID" to last value of display-flag. {this will give you ID, IDNR4 or IDNR7)

- Show display flag on chart

Let me know if you want to enhance this afl for other setups as given by Toby Crabel (they are focused on expansions). I have not discussed them here but can give u idea about them.

Happy Trading.

 

[asnavale]

Great work Anant.
Just few a suggestion -
1) As you had mentioned earlier that all NR7 days are also NR4 ,NR6 days as well. So it makes no sense to reflect NR4 and NR7 on a NR7 bar. IMO, just NR7 is sufficient. By putting NR4 on this bar just clutters the chart with redundant info.

2) You don't have to wait for NR4 day to mark an ID. Any bar can be marked as ID, as long as it meets the criteria.
I don't know the flowchart of your AFL script.. But If I have to give this as requirement then I would say following
- Check for ID. Set ID-Flag appropriately
- Check for NR7. Set NR7-flag
- Check for NR4. Set NR4-flag

- If (NR7-Flag and NR4-Flag), then Display-Flag = NR7 end-if
- If Display-Flag empty, and NR4-flag = yes, then display-flag = NR4
- If ID-Flag = yes, then concatenate "ID" to last value of display-flag. {this will give you ID, IDNR4 or IDNR7)

- Show display flag on chart

Let me know if you want to enhance this afl for other setups as given by Toby Crabel (they are focused on expansions). I have not discussed them here but can give u idea about them.

Happy Trading.

Hi AW10,

The changes can be made. The algorithm you have given is easy to implement. I will do the changes and put it here so that you can verify it and if okayed we can move to enhancing the AFL with other setups.

Regards

-Anant

 

[rohangawale]

I will not be available for next two day to post all NR7 triggers and close of NR7 of prev days due to some personal problem.
if i get little time also i will do it, as it should not affect anybody who might be seeing the triggers to trade for.