Trading NR7 setup

[MurAtt]

Anant,

Wonderful is all I can say. Thanks a ton for this one.

BUT

One - or rather 2 small details needed with this are :
1. NR4 (on same lines as NR7) and
2. NR1 or rather an Inside Day

If these are added too, then it would be wonderfully wonderful

Hello Murtaza Bhai,

I have modified the AFL which I have posted above so that it can be used for charting as well as exploration. I have already attached the chart above. Here I am attaching the screen shot of the exploration results.

Hope this AFL is useful to all those work with AmiBroker.

******************************************************

_SECTION_BEGIN("NR7");

R = H - L;
NR7 = False;

for(i = 7; i < BarCount; i++)
{ if( R < R[i - 1] AND R < R[i -2] AND R < R[i - 3] AND R < R[i - 4] AND R < R[i - 5] AND R < R[i - 6]) NR7 = True;}

if(Status("action") == actionIndicator)
{
Marker = shapeDigit7 * NR7;
MarkerColor = colorYellow;
MarkerDist = L * 0.995;

_N(Title = StrFormat("{{NAME}}, {{DATE}} ({{INTERVAL}}): {{VALUES}}") + EncodeColor(colorBrightGreen) + WriteIf(NR7, "*NR7*", ""));

PlotOHLC(O, H, L, C, "Close", colorLightGrey, styleBar);
PlotShapes(Marker, MarkerColor, 0, MarkerDist);
}

if(Status("action") == actionExplore)
{
Filter = NR7;
SetOption("NoDefaultColumns", True)
AddTextColumn(Name(), "Symbol");
AddColumn(DateTime(), "NR7 Date", formatDateTime);
AddColumn(H, "High Price", 6.2);
AddColumn(L, "Low Price", 6.2);
AddColumn(R, "Range", 6.2);
}

_SECTION_END();


****************************************************


Regards

-Anant

 

[rohangawale]

Nifty range till now is only 46 point

 

[MurAtt]

Now gone .....

But for the better

 

[rohangawale]

murtaza bhai aj ka nifty ka low bothot badhiya hai
4786.25

 

[hills_5000]

hi SM bhai,

so what's your take ? 4800 is strong but upkar kab jayenge ?

regards

Now gone .....

But for the better

 

[asnavale]

Anant,

Wonderful is all I can say. Thanks a ton for this one.

BUT

One - or rather 2 small details needed with this are :
1. NR4 (on same lines as NR7) and
2. NR1 or rather an Inside Day

If these are added too, then it would be wonderfully wonderful

Thanks Murtaza Bhai. I will try to do that also

Regards

-Anant

 

[rohangawale]

NR7 stock triggered on 11th Sept:

STOCK		HIGH		LOW
CIPLA		268.45		263.35
HCL TECH	315		309.1
HDFC LTD	2540		2502.6
SUN PHARMACE	1218.95		1200
TCS		569		555.5
TATA POWER	1291.75		1265.65

NR7 stocks closed on 14th Sept

		11-Sep			14-Sep	
[B]STOCK		HIGH	LOW		Close	Trigger[/B]
CIPLA		268.45	263.35		263.50	No Breakout
HCL TECH	315	309.1		312.95	No Breakout
HDFC LTD	2540	2502.6		2504.35	No Breakout
SUN PHARMACE	1218.95	1200		1203.20	No Breakout
TCS		569	555.5		559.10	No Breakout
TATA POWER	1291.75	1265.65		1273.90	No Breakout

 

[AW10]

HI,

Friends i am new to this theory and i use amibroker can any one brief me in nutshell how this strategy works out N& range dose not give any idea alone on chart who to use this strategy in intraday and which time frame will be best .
Mr.Ali can put some light on it please.

Regards,
Mama

Mama, have u read first few posts of this thread.. where I tried to explain in details about what NR7 means, and how one can use it.
It is not magic strategy on its own.. but helps us in understanding a reality of market behaviour i.e Expansion and contraction.

Then it is upto you as a trader to develop your strategy to benefit from this power setup and position yourself for forthcoming expansion.
I have also give a sample method to trade it.. but one has to do the groundwork and finetune it.

Happy Trading

 

[rohangawale]

NR7 stocks triggered on 14th Sept:

STOCK		HIGH		LOW
AXIS BANK	908.5		890.05
BPCL		574.8		563.1
BHARTI		420		412.65
DLF		395.5		387.05
GAIL		356.8		345.05
HDFC BANK	1504		1484
MARUTI		1489.6		1454.6
POWER GRID	108.4		107
REL COMM	296.25		290
SIEMENS		522		513.05
[B]SUN PHARMACY	1214		1197.85
TATA POWER	1283		1271.25[/B]
UNITECH		107.75		104.75

stocks marked in bold are 2NR7.

 

[AW10]

Anant,

Wonderful is all I can say. Thanks a ton for this one.

BUT

One - or rather 2 small details needed with this are :
1. NR4 (on same lines as NR7) and
2. NR1 or rather an Inside Day

If these are added too, then it would be wonderfully wonderful

SM Bhaijan,
Just a few observations
1) Haven't heard of term NR1.. the minimum is NR2 i.e. today's range minimum of last 2 days including today.. (I think thats what u are calling as NR1).

2) Inside day is certainly NR2 or greater.. But you can have NR2 (i.e. todays range smaller then yesterday's range) beyond yesterday's candle.. i.e. it will not be Inside day but still qualify for NR2.

3) Yes, it certainly makes sense to tap INSIDE days. Which is pretty simple to identify without any NR formula but just by chking for (High Today < High yesterday) + (Low today > low yesterday)

Happy Trading.