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Trading NR21 Setup, Best method for Scalping

Discuss Trading NR21 Setup, Best method for Scalping at the Advanced Trading Strategies within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi All NR21 means Narrow Range bar of last 21 days. Many people are profitably ...


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  #1  
Old 4th May 2013, 10:06 AM
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Default Trading NR21 Setup, Best method for Scalping

Hi All

NR21 means Narrow Range bar of last 21 days.

Many people are profitably trading on NR4 and NR7 setup. NR21 is just a next step of these setups.

Why we should follow NR21 instead of NR4 / NR7 ?

Too many stocks comes while scanning for NR4/NR7 which creates confusion which one to select for next day trading and which one to leave. Too often we see that our selected stock on NR7 did not performed well but the one which we did not traded is doing very well.

Stocks falling in NR21 are lesser in comparison of NR4 and NR7 so we have to track lesser stocks


Some times NR4 and NR7 just happen because over all market traded in small range or may be because particular sector traded in small range.
This problem is reduced to greater extent in NR21

How to Trade these setups

Buy above high of NR21 or short below low of NR21
Stop-loss: 1 %
Target 1%

How to Find these NR21 stocks

1) Many members are already calculating NR7 in excel same thing can be done for NR21 with little modification. I hope some members will come forward to help us.

or
2) If you are using Amibroker then some member can make AFL for this, you can request in Amibroker section. We have many members with helping nature.

or
3) I personally using and actually found this system in Keystocks software which has been created by one of our traderji member

Free version of Keystocks i.e Keystocks-Lite is available without any registration or Activation. At present on their site it is written that software is free for one Year but when i contacted, He said he will be providing it free for ever.

Benefit of this Keystocks-Lite

i) Data is downloaded and updated by just one click
ii) With Excel or AMI we have to first scan then view those stocks in chart by clicking them one by one while in Keystocks-lite scan results comes directly in Charts Images. So its real time saver, i have attached an image for explanation.

You can download Keystocks-Lite from here http://www.traderji.com/software/866...tml#post804597
Attached Images
File Type: jpg NR21setup.jpg (82.3 KB, 720 views)



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  #2  
Old 4th May 2013, 01:34 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

This system sounds good just as NR7 .
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  #3  
Old 4th May 2013, 04:46 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

NR21 Stocks for Monday trading

1) Hexaware

Pivot High = 83.8 + .5 paisa filter so buy above 83.85 or
Pivot Low = 82.3 - .5 paisa filter so sell below 82.25

2) TV18BRDCST

Pivot High = 27.3 + .5 paisa filter so buy above 27.35 or
Pivot Low = 26.65 - .5 paisa filter so sell below 26.60


Have a good trading
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  #4  
Old 4th May 2013, 07:56 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

Hope this betters the previous NR7 system, carry on the good work.
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  #5  
Old 4th May 2013, 10:42 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

I scanned and found the following formed a NR21 Candle on Friday with the high and low of the NR21 candle:
Filter was applied for Stocks having a volume of more than 50000 !

Code:
FUTURE RETAIL LIMITED		152.25	147.15
GUJ NRE COKE		17.15	16.85
GUJ SIDHEE CEMEN		8.05	7.8
HEXAWARE TECHNOL		83.8	82.3
INDIAN HOTELS CO		57.3	56.6
JYOTHY LABS LTD		179.5	177.15
KAVVERI TEL. LTD.		37.1	34.7
KINGFISHER AIRLINES LIMITED		7	6.9
MANAPPURAM FINANCE LTD		17.1	16.9
MUTHOOT FINANCE LTD		135.25	133.1
NITESH ESTATES LTD		12	11.75
PRIME FOCUS		40.15	39.75
PTC INDIA FINANCIAL SERVICES LTD		14.1	13.85
RANA SUGARS		2.9	2.85
SHRIRAM CITYUNI FIN		1030.05	1025
SPICE COMMUN. LTD		58	56.55
SRS LTD		43.65	42.6
SUBEX LIMITED		9.2	9.05
TV18 BROADCAST LTD		27.3	26.65
VIP INDS		63.9	62.35
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  #6  
Old 4th May 2013, 10:56 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

Hexaware chart , with Candles marked for various Narrow Range Candles as denoted by the No. mentioned below.

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Old 4th May 2013, 11:06 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

Quote:
Originally Posted by rkkarnani View Post
I scanned and found the following formed a NR21 Candle on Friday with the high and low of the NR21 candle:
Filter was applied for Stocks having a volume of more than 50000 !
Sir like any other Narrow range system, it also work good on high volume stocks so please add one more zero in 50,000 for better results
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Old 5th May 2013, 10:56 AM
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Default Re: Trading NR21 Setup, Best method for Scalping

Quote:
Originally Posted by nids1975 View Post
Sir like any other Narrow range system, it also work good on high volume stocks so please add one more zero in 50,000 for better results
Thanks....
With an added "0" the list is trimmed to :

FUTURE RETAIL LIMITED
HEXAWARE TECHNOL
KINGFISHER AIRLINES LIMITED
MANAPPURAM FINANCE LTD
TV18 BROADCAST LTD

Hi and Lo of these are there in the previous Post.

Last edited by rkkarnani; 5th May 2013 at 11:27 AM.
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  #9  
Old 5th May 2013, 02:34 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

@nids How do you scan for NR21 using Keystocks lite?
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Old 5th May 2013, 03:20 PM
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Default Re: Trading NR21 Setup, Best method for Scalping

Quote:
Originally Posted by akrsrivastava View Post
@nids How do you scan for NR21 using Keystocks lite?
Sir it will take 3 mouse clicks to scan NR21 in Keystocks-lite (Free software)
as shown in pic


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