Trend Changing NR7i System

I am posting here a simple trend chaging NR7i system. I am doing this in intraday 15 min chart. Didn't try with EOD charts

Whats NR7i

Pl see AW10 thread on NR7. NR stands for Narrow Range. NR7 means the current bar is narrowest in last 7 bars. Narrowest means the range (high-low) is the lowest. 'i' stands for inside bar. Inside bar has low, high within previous bar. low should be higher than previous low and high is lower than previous high. NR7i is the bar that is NR7 AND inside bar. NR7 by definition is showing contraction and inside bar strengthens this. so combination of these 2 is deadly. Break out of this range could be in either direction.

Entry

We need a NR7i bar. then next bar (or bars) should break high or low and fail to go ahead in same direction and revereses. thats when we enter. lets see an example.

11:15 bar is NR7i bar. high of thus bar is 1750, low is 1745. so range is 5. lets say next bar starts going up and takes out 1750 and goes up some more, but not more than 1760 (this is derived as 2 times the range plus buy price). now it starts going down, takes out low of NR7i which is 1745. now we enter SHORT at 1745 with target 1730 (3 times the range) and stoploss 1752.5 (hi +50%range). this could happen in 11:30 bar or 11:45 or 12:00, 12:15. we wait for maximum 4 bars for the entry. If the price takes out high and goes above 1760, then there is NO trade. we wait for next trend changing NR7i

Same thing for LONG trades

Here we consider yesterdays bars also for today until we have 7 bars today. But we dont consider 09:55-10:00 data. first bar is 10:00-10:15

Take Profit

As explained above, its 3 times the NR7i range. why 3 times ? you can keep 2 if you want. 3 is what i got during my tests

Stop Loss

1.5 times range. this would give RRR 1:2 which is good

What to trade ?

I tried nifty futures, and high liquid stocks like sbi, axis, ril, icici, dlf, tata steel, tata moto, hdfc, hdil etc

Caution

Strict hard stoploss is mandatory. dont even think twice. place SL order immediately after entry. lot of times the price moves violently around this area. so place your SL, TP orders immediately and cancel one when other is filled

also place your entry order as soon as NR7i hi/lo is broken. If NR7i hi is taken out, then place your SHORT order at low of NR7i bar in anticipation

I strongly recommend this using some software like ami, meta etc. because doing calculations manually is time taking and you will miss trades

Please paper trade few days to understand the system

Why the system would work

NR7i break out would take the price significantly higher/lower. but we dont know the direction. sometimes it gives false signal and when this happens the reversal would be swift and violent and in fact takes out our target in same bar !!! Since we have RRR 1:2, then even if 50% trades are successful we would be in profits. Out of a basket of 25 stocks, we may get 3-5 trades in a day. when market is range bound, we get more such trades !!!

AFL. create a new folder in c drive as 'signals' and sub-directory 'results' in 'signals'. the signals will be written to a csv file here


_SECTION_BEGIN("Trade Variables");
priceRL=Param("Price Range Min",15,1,20000,1);
priceRH=Param("Price Range Max",20000,1,20000,1);
riskAmount=Param("Risk Amount",500,50,10000,50);
factor=Param("Factor %",20,0.1,100,0.1);
profitfactor=Param("TP Ratio before entry",2,0.1,100,0.1);
Profit=Param("TP Ratio after entry",3,0.1,100,0.1);
trades=Param("ENTRY RULES: 1-NR7,2-NR8, 3-NR1&NR7, 4-NR1&NR7&NR8",3,1,4,1);

_SECTION_BEGIN ("Synchronise Factors");
synch=ParamToggle("Synch with Index", "No|Yes", 0);
Vr=ParamList("Index",List = "^NSEI,^NSEBANK,^CNXIT,^NSMIDCP,RELIANCE.NS,SBIN.NS",0);
//synch1=ParamToggle("Since Today", "No|Yes", 1);
Slope=ParamToggle("Slope", "No|Yes", 0);
Limit=Param("Trading Time(HHMMSS)",145500,103000,153000,100);

_SECTION_BEGIN ("Hide/Show");
pShowMarkers = ParamToggle("Show Markers", "No|Yes", 1);
pShowtradeLines = ParamToggle("Show Trade Lines", "No|Yes", 1);


_SECTION_BEGIN("Price");
Plot( C, "Close", ParamColor("Color", colorWhite ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );

//sma
_SECTION_BEGIN("SMA");
P = ParamField("Price field",-1);
Periods = Param("Periods", 20, 2, 300, 1, 10 );
Plot( MA( P, Periods ), _DEFAULT_NAME(), ParamColor( "Color", colorYellow ), ParamStyle("Style", styleThick) );
_SECTION_END();

//measure limit
synch1=1;
since=(TimeNum() >= 095959 AND TimeNum()<= Limit) AND (DateNum()==LastValue(DateNum()));

//nr7 / nr1 /nr8
rang=High-Low;
//nr7s=IIf(rang==LLV(rang,7) AND since ,shapeDigit7+shapePositionAbove,shapeNone);
nr7=IIf(rang==LLV(rang,7) ,shapeDigit7+shapePositionAbove,shapeNone);
//nr8s=IIf(Ref(nr7s,-1) AND rang==LLV(rang,8) AND since ,shapeDigit8+shapePositionAbove,shapeNone);
nr8=IIf(Ref(nr7,-1) AND rang==LLV(rang,8) ,shapeDigit8+shapePositionAbove,shapeNone);
//nr7=IIf(synch1,nr7s,nr7h);
//nr8=IIf(synch1,nr8s,nr8h);
InsideBar = Inside() ;
nr1=IIf(nr7 AND InsideBar, shapeDigit1,shapeNone);

//slopes
isSlopeUP=(MA( P, Periods )<L) AND Ref(MA( P, Periods ),-1)>Ref(MA( P, Periods ),-2) AND Ref(MA( P, Periods ),-2)>Ref(MA( P, Periods ),-3) AND Ref(MA( P, Periods ),-3)>Ref(MA( P, Periods ),-4) AND Ref(MA( P, Periods ),-4)>Ref(MA( P, Periods ),-5) AND Ref(MA( P, Periods ),-5)>Ref(MA( P, Periods ),-6);
isSlopeDN=(MA( P, Periods )>H) AND Ref(MA( P, Periods ),-1)<Ref(MA( P, Periods ),-2) AND Ref(MA( P, Periods ),-2)<Ref(MA( P, Periods ),-3) AND Ref(MA( P, Periods ),-3)<Ref(MA( P, Periods ),-4) AND Ref(MA( P, Periods ),-4)<Ref(MA( P, Periods ),-5) AND Ref(MA( P, Periods ),-5)<Ref(MA( P, Periods ),-6);


//foreign
_SECTION_BEGIN ("foreign Index bar graph");
SetForeign(Vr);
HaC =(O+H+L+C)/4;
HaO = AMA( Ref( HaC, -1 ), 0.5 );
HaH = Max( H, Max( HaC, HaO) );
HaL = Min( L, Min( HaC, HaO) );
BG3=HHV(LLV(HaL,4)+ATR(4),8);
BR3=LLV(HHV(HaH ,4)-ATR(4),8);
co = IIf(Hac>BG3 ,colorBrightGreen,IIf(Hac < BR3,colorRed,colorGrey50));
Plot(4, "", Co,styleArea+styleOwnScale | styleNoLabel, -1, 100);
P1 = (C);
Periods1 = 20;
INDSlopeUP=(MA( P1, Periods1 )<L) AND Ref(MA( P1, Periods1 ),-1)>Ref(MA( P1, Periods1 ),-2) AND Ref(MA( P1, Periods1 ),-2)>Ref(MA( P1, Periods1 ),-3) AND Ref(MA( P1, Periods1 ),-3)>Ref(MA( P1, Periods1 ),-4);// AND Ref(MA( P, Periods ),-4)>Ref(MA( P, Periods ),-5) AND Ref(MA( P, Periods ),-5)>Ref(MA( P, Periods ),-6);
INDSlopeDN=(MA( P1, Periods1 )>H) AND Ref(MA( P1, Periods1 ),-1)<Ref(MA( P1, Periods1 ),-2) AND Ref(MA( P1, Periods1 ),-2)<Ref(MA( P1, Periods1 ),-3) AND Ref(MA( P1, Periods1 ),-3)<Ref(MA( P1, Periods1 ),-4);
RestorePriceArrays();
_SECTION_END();

//Short entry exits
prc=(C>=priceRL AND C<=priceRH);
Buycalc1=((High+(((Ref(High,-1)-Ref(Low,-1))*factor)/100)) AND isSlopeUP AND prc );
Buycalc2=((High+(((Ref(High,-1)-Ref(Low,-1))*factor)/100)) AND prc);
Buycalc=IIf(Slope,Buycalc1,Buycalc2);
Buy1=IIf((Ref(nr7,-1) AND trades==1) OR ((Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4)) AND trades==1),Buycalc,0);
Buy2=IIf((Ref(nr8,-1) AND trades==2) OR ((Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4)) AND trades==2),Buycalc,0);
Buy3=IIf(((Ref(nr1,-1) AND Ref(nr7,-1)) AND trades==3) OR ((Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4)) AND trades==3),Buycalc,0);
Buy4=IIf(((Ref(nr1,-1) AND Ref(nr7,-1) AND Ref(nr8,-1)) AND trades==4) OR ((Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4)) AND trades==4),Buycalc,0);
Buy5=Buy1+Buy2+Buy3+Buy4 AND since;
Buy6=Buy1+Buy2+Buy3+Buy4 AND (Hac>BG3) AND since;
Buy7 = IIf(synch,Buy6,Buy5);
BuyPrice1=IIf(Buy7==1,(round(( (Ref(High,-1))+(((Ref(High,-1)-Ref(Low,-1))*factor)/100))*10)/10),0);
BuyTP=IIf(Buy7==1,((Ref(High,-1)+((Ref(High,-1)-Ref(Low,-1))*profitfactor))),0);
Buy8=((H>=BuyPrice1) AND Buy7==1);
Buy9=BarsSince(Buy8);
Short10=ValueWhen(Buy8,Ref(L,-1));
Short11=ValueWhen(Buy8,Ref(H,-1));
Short12=(Short11-Short10);
BuyTP1=ValueWhen(Buy8,BuyTP);
BuyTP2=IIf(Buy9>=0,Cross(H,BuyTP1) OR Cross(C,BuyTP1),0);
BuyTP3=BarsSince(BuyTP2);
BuyTP4=IIf(BuyTP3>=0,Hold(BuyTP2==1,Limit),0);
Short= (Buy9>=0 AND IsEmpty(BuyTP4) AND since AND (Cross(Short10,L) OR Cross(Short10,C)));
ShortPrice=(round(ValueWhen(Short,Short10)*10)/10);

//Long entry exits
Shortcalc1=((Low-(((Ref(High,-1)-Ref(Low,-1))*factor)/100)) AND isSlopeDN AND prc);
Shortcalc2=((Low-(((Ref(High,-1)-Ref(Low,-1))*factor)/100)) AND prc);
Shortcalc=IIf(Slope,Shortcalc1,Shortcalc2);
Short1=IIf((Ref(nr7,-1) AND trades==1) OR (Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4) AND trades==1),Shortcalc,0);
Short2=IIf((Ref(nr8,-1) AND trades==2) OR (Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4) AND trades==2),Shortcalc,0);
Short3=IIf(((Ref(nr1,-1) AND Ref(nr7,-1)) AND trades==3) OR (Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4) AND trades==3),Shortcalc,0);
Short4=IIf(((Ref(nr1,-1) AND Ref(nr7,-1) AND Ref(nr8,-1)) AND trades==4) OR (Ref(nr7,-1) AND Ref(nr7,-2) AND Ref(nr7,-3) AND Ref(nr7,-4) AND trades==4),Shortcalc,0);
Short5=Short1+Short2+Short3+Short4 AND since;
Short6=Short1+Short2+Short3+Short4 AND (Hac<BR3) AND since;
Short7= IIf(synch,Short6,Short5);
ShortPrice1=IIf(Short7==1,(round(( (Ref(Low,-1))-(((Ref(High,-1)-Ref(Low,-1))*factor)/100))*10)/10),0);
ShortTP=IIf(Short7==1,(round(((Ref(Low,-1)-((Ref(High,-1)-Ref(Low,-1))*profitfactor)))*10)/10),0);
Short8=((L<=ShortPrice1) AND Short7==1);
Short9=BarsSince(Short8);
Buy10=ValueWhen(Short8,Ref(H,-1));
Buy11=ValueWhen(Short8,Ref(L,-1));
Buy12=(Buy10-Buy11);
ShortTP1=ValueWhen(Short8,ShortTP);
ShortTP2=IIf(Short9>=0,Cross(ShortTP1,L) OR Cross(ShortTP1,C),0);
ShortTP3=BarsSince(ShortTP2);
ShortTP4=IIf(ShortTP3>=0,Hold(ShortTP2==1,Limit),0);
Buy= (Short9>=0 AND IsEmpty(ShortTP4) AND since AND (Cross(H,Buy10) OR Cross(C,Buy10)));
BuyPrice=(round(ValueWhen(Buy,Buy10)*10)/10);

//stop levels
Buystopprice=(round((Buy11-((Buy12*factor*2)/100))*10)/10); // multiply by 2 for more sl
Buystop=Cross(Buystopprice,L) OR Cross(Buystopprice,C);
Shortstopprice=(round((Short11+((Short12*factor*2)/100))*10)/10);
Shortstop=Cross(H,Shortstopprice) OR Cross(C,Shortstopprice);

//profit levels
BuyProfitprice=(round((Buy10+(Profit*Buy12))*10)/10);
Buyprofit=(Cross(H,BuyProfitprice) OR Cross(C,BuyProfitprice));
ShortProfitprice=(round((Short10-(Profit*Short12))*10)/10);
Shortprofit=Cross(ShortProfitprice,L) OR Cross(ShortProfitprice,C);

//cumulative trades individual

tradesB=Cum(Buy);
TSB1=IIf(tradesB>=1,(Cross(H,Buyprofitprice) OR Cross(C,Buyprofitprice)) AND since,0);
BSL1=IIf(tradesB>=1,(Cross(Buystopprice,L) OR Cross(Buystopprice,C)) AND since,0);
tradesBTP=Cum(TSB1);
tradesBSL=Cum(BSL1);
tradesS=Cum(Short);
TSS1=IIf(tradesS>=1,(Cross(Shortprofitprice,L) OR Cross(Shortprofitprice,C)) AND since,0);
SSL1=IIf(tradesS>=1,(Cross(H,Shortstopprice) OR Cross(C,Shortstopprice)) AND since,0);
tradesSTP=Cum(TSS1);
tradesSSL=Cum(SSL1);
Sell1=IIf(TradesBTP==1,TSB1,0);
Sell2=IIf(TradesBTP>=1,Hold(Sell1==1,Limit),0);
Cover1=IIf(tradesSTP==1,TSS1,0);
Cover2=IIf(tradesSTP>=1,Hold(Cover1==1,Limit),0);
bstop1=IIf(tradesBSL==1,BSL1,0);
bstop2=IIf(tradesBSL>=1,Hold(bstop1==1,Limit),0);
sstop1=IIf(tradesSSL==1,SSL1,0);
sstop2=IIf(tradesSSL>=1,Hold(sstop1==1,Limit),0);
Sell=IIf(bstop2==1,0,Sell1);
bstop=IIf(Sell2==1,0,bstop1);
Cover=IIf(sstop2==1,0,Cover1);
sstop=IIf(Cover2==1,0,sstop1);

//money management
lotSizeb = round((riskAmount/(BuyPrice-Buystopprice)));
lotSizes = round((riskAmount/(Shortstopprice-ShortPrice)));

//shapes
PlotShapes(nr1,colorGreen,0,L);
PlotShapes(nr7,colorGreen,0,H);
PlotShapes(nr8,colorRed,0,(L-(H-L)/4));
PlotShapes(IIf((pShowMarkers AND Buy), shapeUpArrow, Null), colorWhite, 0,L,Offset=-45);
PlotShapes(IIf((pShowMarkers AND Short), shapeDownArrow, Null), colorOrange, 0,H,Offset=-45);

//line plot basic
Bars = BarsSince(TimeNum() >= 094500 AND TimeNum() < 100000);//,BarInde),1); // AND DateNum()==LastValue(DateNum());
x0 = BarCount-LastValue(Bars);
x1 = BarCount-1;
BuyStopline=LineArray(x0,LastValue(Buystopprice),x1,LastValue(Buystopprice),0);
BuyTPline=LineArray(x0,LastValue(Buyprofitprice),x1,LastValue(Buyprofitprice),0);
SellStopline=LineArray(x0,LastValue(Shortstopprice),x1,LastValue(Shortstopprice),0);
SellTPline=LineArray(x0,LastValue(Shortprofitprice),x1,LastValue(Shortprofitprice),0);
BuyPriceline=LineArray(x0,LastValue(BuyPrice),x1,LastValue(BuyPrice),0);
SellPriceline=LineArray(x0,LastValue(ShortPrice),x1,LastValue(ShortPrice),0);

//tradelines plot
Plot(IIf(pShowtradeLines AND BuyPrice,BuyPriceline,Null),"",colorBrightGreen,styleDots|styleNoRescale);
Plot(IIf(pShowtradeLines AND ShortPrice,SellPriceline,Null),"",colorRed,styleDots|styleNoRescale);
Plot(IIf(pShowtradeLines AND BuyPrice,BuyStopline,Null),"",colorBrightGreen,styleDots|styleNoRescale| styleNoLine);
Plot(IIf(pShowtradeLines AND BuyPrice,BuyTPline,Null),"",colorBrightGreen,styleDashed|styleNoRescale);
Plot(IIf(pShowtradeLines AND ShortPrice,SellStopline,Null),"",colorRed,styleDots|styleNoRescale| styleNoLine);
Plot(IIf(pShowtradeLines AND ShortPrice,SellTPline,Null),"",colorRed,styleDashed|styleNoRescale);

//indicator
if( Status("action") == actionIndicator )
(
Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Hi %g, Lo %g (%.1f%%) {{VALUES}}", H, L, SelectedValue( ROC( C, 1 ) ) )+"\n"+EncodeColor(colorWhite)+ "NR7 System" + " - " + Name() + EncodeColor(colorWhite) +

"\n" +EncodeColor(colorYellow) + WriteIf(((BuyPrice) ) AND since, "Position Size : "+( lotSizeb )+" ","")+ WriteIf(((ShortPrice) ) AND since, "Position Size : "+( lotSizes )+" ","")+
WriteIf( rang, "Range "+(rang)+" ","")+EncodeColor(colorBrightGreen)+"\n" +
WriteIf((BuyPrice), "GO LONG : "+( BuyPrice)+" ","")+
WriteIf( Buyprofitprice, " - LONG TP : "+(Buyprofitprice)+" ","")+
WriteIf(Buystopprice, " - LONG SL : "+(Buystopprice),"")+

"\n"+
EncodeColor(colorRed) +
WriteIf(ShortPrice, "GO Short : "+( ShortPrice)+" ","")+
WriteIf(Shortprofitprice, " - Short TP : "+(Shortprofitprice),"")+
WriteIf( Shortstopprice, " - Short SL : "+(Shortstopprice)+" ",""));

//exploration
AddColumn( IIf(Buy OR bstop OR Sell, TimeNum(), IIf(Short OR sstop OR Cover, TimeNum(),01 )), "Time", 1, colorWhite, bkcolor= IIf(Short OR sstop OR Cover,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(Buy, 66, IIf(Short, 83,01 )), "GO", formatChar, colorWhite, bkcolor= IIf(Short,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(Sell, 80, IIf(Cover, 80,01 )), "PR", formatChar, colorWhite, bkcolor= IIf(Cover ,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(bstop, 76, IIf(sstop, 76,01 )), "SL", formatChar, colorWhite, bkcolor= IIf(sstop ,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(Buy OR bstop OR Sell, BuyPrice, IIf(Short OR sstop OR Cover, ShortPrice,01 )), "ENTRY@", 1.2, colorWhite, bkcolor= IIf(Short OR sstop OR Cover,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(Buy OR bstop OR Sell, BuyStopprice, IIf(Short OR sstop OR Cover, ShortStopprice,01 )), "STPLS@", 1.2, colorWhite, bkcolor= IIf(Short OR sstop OR Cover,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(Buy OR bstop OR Sell, Buyprofitprice, IIf(Short OR sstop OR Cover, Shortprofitprice,01 )), "PROFIT@", 1.2, colorWhite, bkcolor= IIf(Short OR sstop OR Cover,colorDarkRed,colorDarkGreen) );
AddColumn( IIf(Buy OR bstop OR Sell, Lotsizeb, IIf(Short OR sstop OR Cover, Lotsizes,01 )), "QTY", 1.0, colorWhite, bkcolor= IIf(Short OR sstop OR Cover,colorDarkRed,colorDarkGreen) );

//Alerts
AlertIf( Buy, "SOUND C:\\Windows\\Media\\Windows XP Startup.wav", "Buy",2);
AlertIf( Short, "SOUND C:\\Windows\\Media\\Windows XP Startup.wav", "Short", 2 );
AlertIf( BuyStop, "SOUND C:\\Windows\\Media\\Ringin.wav", "BuyStop Hit", 2 );
AlertIf( Buyprofit, "SOUND C:\\Windows\\Media\\Ringin.wav", "Buy Take Profit", 2 );
AlertIf( ShortStop, "SOUND C:\\Windows\\Media\\Ringin.wav", "Short Stop Hit", 2 );
AlertIf( Shortprofit, "SOUND C:\\Windows\\Media\\Ringin.wav", "Short Take Profit", 2 );



// csv file

if (IsEmpty(StaticVarGet("EntrySignal"+Name())))
{
StaticVarSet("EntrySignal"+Name(), 1);
}


if (IsEmpty(StaticVarGet("BuySL"+Name())))
{
StaticVarSet("BuySL"+Name(), 1);
}
if (IsEmpty(StaticVarGet("BuyTP"+Name())))
{
StaticVarSet("BuyTP"+Name(), 1);
}

if (IsEmpty(StaticVarGet("SellSL"+Name())))
{
StaticVarSet("SellSL"+Name(), 1);
}

if (IsEmpty(StaticVarGet("SellTP"+Name())))
{
StaticVarSet("SellTP"+Name(), 1);
}






if ((StaticVarGet("EntrySignal"+Name()) == 1) && LastValue( Buy ) ) {
fh = fopen( "C:\\signals\\trades_buy_"+Name()+".csv", "awr");
if( fh)
{
fputs(Name()+","+Date()+","+BuyPrice+","+Buyprofitprice+","+Buystopprice+","+ round(Buystopprice*0.9995*10)/10+","+lotSizeb, fh);
StaticVarSet("EntrySignal"+Name() , 0);
fclose( fh );
}
}




if ((StaticVarGet("EntrySignal"+Name()) == 1) && LastValue( Short ) ) {
fh = fopen( "C:\\signals\\trades_sell_"+Name()+".csv", "awr");
if( fh)
{
fputs(Name()+","+Date()+","+SellPrice+","+Shortprofitprice+","+ Shortstopprice+","+round(Shortstopprice*1.0005*10)/10+","+lotSizes , fh);
StaticVarSet("EntrySignal"+Name() , 0);
fclose( fh );
}
}





// buy sl to file

if ((StaticVarGet("BuySL"+Name()) == 1) && LastValue( bstop) ) {
fh = fopen( "C:\\signals\\results\\buy_sl_"+Name()+".csv", "awr");
if( fh)
{
fputs(Name()+","+Date(), fh);
StaticVarSet("BuySL"+Name() , 0);
fclose( fh );
}
}

// buy tp to file

if ((StaticVarGet("BuyTP"+Name()) == 1) && LastValue( Sell) ) {
fh = fopen( "C:\\signals\\results\\buy_tp_"+Name()+".csv", "awr");
if( fh)
{
fputs(Name()+","+Date(), fh);
StaticVarSet("BuyTP"+Name() , 0);
fclose( fh );
}
}


// sell sl to file

if ((StaticVarGet("SellSL"+Name()) == 1) && LastValue( sstop) ) {
fh = fopen( "C:\\signals\\results\\sell_sl_"+Name()+".csv", "awr");
if( fh)
{
fputs(Name()+","+Date(), fh);
StaticVarSet("SellSL"+Name() , 0);
fclose( fh );
}
}

// sell tp to file

if ((StaticVarGet("SellTP"+Name()) == 1) && LastValue( Cover) ) {
fh = fopen( "C:\\signals\\results\\sell_tp_"+Name()+".csv", "awr");
if( fh)
{
fputs(Name()+","+Date(), fh);
StaticVarSet("SellTP"+Name() , 0);
fclose( fh );
}
}



//filter
Filter = Buy OR Short OR Sell OR Cover OR bstop OR sstop ;

Long Trade




Today's Tata Steel trade. After NR7i bar, next bar tried to go down but failed, we took LONG at high of NR7i bar and our target is achieved

Long Trade

Long Trade

I always was fascinated by NR7 and wanted to find a way to trade it intraday. If it works on eod, it has to work on smaller TF. will follow the progress regularly...

keep up the good work...BL

Hi Bandlab2. good to see that u have developed a system around NR7 concept for intraday trading.
I certainly agree with your powerful setup which is FAILURE of a BREAKOUT. This works with double power - 1) of the main player who want the new trend and 2) trapped traders who are running to cover their wrong entry. The stops of trapped traders give extra push to the price action after failed breakout.. So pretty powerful setup.

Looking forward for more posts from you here.

Happy Trading

bandlab nice one u developed

hi vinod,

hope you are fine. i dont hear anything from you these days, can you ping me when i am online ?

thanks in advance

thanks AW10 for the kind words. in general i am fascinated by failed patterns, failed break-outs. as you rightly said, such failed break-outs would be volatile and fill the target very quickly

NR7, is basicaly the fundamentals of technicals which states every expension has to be preceding by a compression and vice versa, if Nr7 is supplemented by coiled springs its efficiency increases by more than 70%............ regards