It is one of the simple Intraday Trading system. which requires just few minutes of your time every day.
NR7 is term given to a day that has the daily range smallest of last 7 days including that day.
How to Find NR7 day
1) Get the High and Low data of last few period
2) Calculate the range of each day i.e. high - low) for each day
3) Compare the range of a today and previous 6 days range (to get NR7. To get NR4 get last 3 days range)
4) If today's range is smallest of all 7 days, then today is NR7 day..else not.
This is one of my favorite setup. It gives u a chance to be ahead of trend follower / indicator followers who will jump in the trend after you.
One of the easiest way to trade this setup will be to go long above the Day's high of NR7 day with stop at the Day's Low of NR7 day.
Go short below the Day's Low of NR7 day with stop at the Day's High of NR7 day.
Now we have an automated Trading bot for you, which will automatically scan the list all stocks and find the one that are NR7 stocks. All you have to do is, go to NR7 BOT or search for @NR7_squareoff_bot in Telegram app and enter your input. It is very similar to the ORB Trading bot. Check this link for more info https://medium.com/@support_12620/how-to-use-nr7-trading-bot-bb073781320a
It has one week free trial and this NR7 BOT is free for exiting users of SquareOff.
New users who wish to subscribe to this bot can use the below link.