OPEN-SOURCE SCRIPT
NR7 Indicator
NR7 is a narrow range over the past 7 candles, range contraction leads to range expansion! Think of it like a potential turning point in stock movement, like a pivot point. The common school of thought is to treat a "7" like an indecision candle, using a bracket order or long/short if you only want to take it a single direction. You can find a free tool that lists a stocks making an NR7 here:
swingtradebot.com/events/8/equities?selected_date=&min_vol=450000&min_price=5&max_price=199&adx_trend=up&grade=&include_etfs=0&html_button=as_html
swingtradebot.com/events/8/equities?selected_date=&min_vol=450000&min_price=5&max_price=199&adx_trend=up&grade=&include_etfs=0&html_button=as_html
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.