NR4 NR7 Stocks Scanner

The NR4 NR7 trading method is a trading strategy for 4 or 7-day Narrow Range Stock Breakouts. The NR4 NR7 scanner can help you find both NR7 stocks and NR4 stocks for tomorrow. In his excellent book "Day Trading With Short-Term Price Patterns And Opening Range Breakout," Toby Crabel popularised the concept of narrow range bars. We'll go over two different sorts of Narrow Range Bar Formations in this piece. This contains the NR 4 and NR7 Trading Strategies, which are based on Price Action. Price Action Trading is based on the stock price and does not require any indicators.

What Is The NR7 Trading Strategy?

"Narrow Range of Seven Days" is what NR7 stands for. This approach is designed to identify NR7 stocks where the range is shrinking and the current day range is the smallest of the last seven days ranges, as the name implies. NR 7 is a breakout-based approach that posits that when the stocks consolidate in a small range, the stock price will move up or down. It's possible that the breakout will occur in either direction. Seven candles make up the NR7 candlestick pattern. When the current day candle has a smaller price range than the previous six days' candles, it is referred to as NR7. To confirm NR7 stocks, simply look at the price range over the previous six days. The last six days' candle range should be greater than the current day's range, and the pattern is then classified as NR7. When the stock price is above or below the top or bottom of the NR7 candle, the breakout occurs. If the breakout occurs at the top of the NR 7 candle, the market is bullish; on the other hand, if the breakout occurs at the bottom of the NR 7 candle, the market is bearish.