Trading NR7 setup

[rrmhatre72]

Hi AW10,

Do you have AFL for NR4?

Thanks Speed for your kind words.
Just few pointers, What type of trader are you.. i.e. what timeframe you trade ?
If you are daytrader, i.e your trades are windup in 1 day, then look for checking it in daily timeframe. But if you are swing trader, where trade goes beyond a day then start with Weekly timeframe data, try to identify NR4 weeks (cause NR7 weeks is rare), and then see how price behaves after breaking the weekly range on daily chart.

Hope this helps. All the best to you in your new excercise.
Happy Trading

 

[msa5678]

Hi AW10,

Do you have AFL for NR4?

Hi RR,

Here is the AFL for NR7::::



_SECTION_BEGIN("TB Price Patterns");
//Toby Crabel Price Patterns

DlyRng = H-L;
//Plot(DlyRng, "Daily Range", colorGrey40, styleDots | styleNoLabel);
Plot (C, "", IIf(PDI() > MDI(),colorGreen,colorRed),styleCandle);



SetChartBkColor(ParamColor("Panel color ",colorLightYellow));
NR = (H-L) < (Ref(H,-1) - Ref(L,-1));


//code and plot the NR7
NR7 = (LLV(H-L,7) >= (H-L));
PlotShapes(IIf(NR7,shapeDigit7, shapeNone),colorViolet, 0, 0, 80);
PlotShapes(IIf(NR7, shapeStar, shapeNone),colorBlue, 0,L, Offset=0);





_SECTION_END();

 

[rrmhatre72]

Thanks msa,

I have loaded it in Ami & tried to scan NR7 triggered stocks yesterday.
But I am geeting error message as follows.

"Missing buy/sell variable assigments.
Check user guide"

How can I scan all the stocks to filter out stocks which has triggerd NR7?

Hi RR,

Here is the AFL for NR7::::



_SECTION_BEGIN("TB Price Patterns");
//Toby Crabel Price Patterns

DlyRng = H-L;
//Plot(DlyRng, "Daily Range", colorGrey40, styleDots | styleNoLabel);
Plot (C, "", IIf(PDI() > MDI(),colorGreen,colorRed),styleCandle);



SetChartBkColor(ParamColor("Panel color ",colorLightYellow));
NR = (H-L) < (Ref(H,-1) - Ref(L,-1));


//code and plot the NR7
NR7 = (LLV(H-L,7) >= (H-L));
PlotShapes(IIf(NR7,shapeDigit7, shapeNone),colorViolet, 0, 0, 80);
PlotShapes(IIf(NR7, shapeStar, shapeNone),colorBlue, 0,L, Offset=0);





_SECTION_END();

 

[msa5678]

Thanks msa,

I have loaded it in Ami & tried to scan NR7 triggered stocks yesterday.
But I am geeting error message as follows.

"Missing buy/sell variable assigments.
Check user guide"

How can I scan all the stocks to filter out stocks which has triggerd NR7?

Ah...You were asking for Scanner..I thought you needed Indicators...Right now I don't have the commands for scanning ...by evening i will check..

 

[kmgsm]

rrmhatre 72,

Here is the afl you need. It also has Inside bar & NR4 days exploration.

 

[msa5678]

;

rrmhatre 72,

Here is the afl you need. It also has Inside bar & NR4 days exploration.

Nice AFL KMG, Alas I am using trial version of Ami, and can't scan more than 5 scrips at a time. Let me make some points in NIFTY then I will purcahse the paid version

 

[rrmhatre72]

Suggested Trading System - DRAFT rules


Exit Trailing Stoploss
1) For Short trade, trail with the stop at HIGH of Previous 2 bars. (i.e. On Day1, stop = Day0-H/ Day2 , stop = Day0-H/ Day3, stop = Day1-H / Day4, stop = Day2-H and so on)
2) If market gaps from trailing stop order level /or for some reason the trailing stoploss order is not executed, then close the position immediately at whatever price is available.
3) Stoploss moves only in the direction of the trade. They are never moved against the direction of our position.
<if using multiple contracts, then adjust this section accordingly>

Following two sections needs to be customised for individuals account size and risk tolerance limit. But the example below will guide u in answering them.
I will certainly like to come back and update these sections as they are the foundation of trader's long term survival and the success.

===================
Happy Trading.

Hi AW10,

I am sorry if someone had already asked this query.
Appreciate if you can explain trailing SL with one example. I have not understood formula in point 1.

 

[rrmhatre72]

Thanks kmgsm,

Troubling you more...Pls share backtesting AFL if you have for NR7

rrmhatre 72,

Here is the afl you need. It also has Inside bar & NR4 days exploration.

 

[kmgsm]

Thanks kmgsm,

Troubling you more...Pls share backtesting AFL if you have for NR7

Welcome rrmhatre. Sorry, I don't have backtesting AFL for NR7.
Try googling it...you may find it in the web.
I'll also share it here if I find one.

 

[bhattsr]

Can you or anyone Pls Post WR4 and WR7 Setup(wide range)... and Afl for the same

Thnx