nr4 and nr7 trading strategy in Intraday with inside bar formation and ORB- trusted trading technique
Today’s we cover most used and tested technique for trading intraday. the theory here is that stocks dont make move’s all time but they move in waves where after a period of days like 7 and 4 where a candle makes lowest range(high and low of a day) compared to last 4 or 7 days then that day is called nr4 and nr7 day respectively and is expected to make a move that day.
In nr7 trading strategy
that is after a nr7 candlestick day is formed like explained above nr7 stock for that reason nr4 and nr7 trading strategy takes place the next following day where nr4 or nr7 intraday that nr4 nr7 trading strategy applies. Now nr4 or nr7 candle is more reliable or effective with a inside bar formation on nr4 or nr7 day which is the second part of the strategy.
nr 4 or nr7 in trading is used to select stocks before hand to select the nr4 and nr7 stock list with nr4 or nr7 inside bar formation.
Orb(open range breakout) is used by many traders to trade intraday with nr4 and nr7 strategies.
previous day high and low breakout with resistance R1 and support S1 breakouts are used to ride the stock in that direction.
Now following are important:
- nr7 intraday strategy or nr7 strategy chartink link is – https://chartink.com/screener/nr7-current-day
- nr4 and nr7 in excel can be prepared by using bhav copy download from NSE website in excel and doing comparission with last 6 days.
- narrow range breakout scanner in scanner which is nr7 strategy again is in chartink — https://chartink.com/screener/nr7-current-day
- narrow range indicator can be found in tradingview which can indicate a narrow range candle
- nr7 strategy stocks – we will be updating narrow range stocks here in our website for next day wherever we see a oppurtunity.