NR7 and NR7IB

3

This indicator shows the narrowest bar within the past seven bars, which is known as NR7 in the literature.

It will also show the NR4 bar.

The range is variable; thus, you can show any two ranges, e.g. NR7/NR4, NR11/NR6, etc. For the description of this indicator, I will continue to use the default of seven (7) and four (4).

If an NR7 bar also happens to be an Inside Bar, it gives a stronger signal. Thus NR7IB are denoted in another color. Sometimes this is known as NR7ID (for Inside Day). I kept the description generic because you can use this indicator on any time frame.

As a bonus, I have added the ability to show the:

  • Highest bar (HI7)
  • Lowest bar (LO7)
  • Widest bar (WI7)

within the range N.

By changing the range size N you can show other values, e.g. HI3, LO3, WI3.

This indicator shows on the main chart window, not a sub-window.


Disclaimers

Mac & Linux

Do not download this product if you have a Mac.

Wine doesn’t support the Market tab. Do not download this product if you do not have a Markets tab in MT5.


Calculations

Basically, it’s a lookback loop that goes through the past N bars to determine which bar is the narrowest.


Features

  • Works on all chart periods.
  • Can show Highest (HI7), Lowest (LO7), Widest (WI7) bars.
  • Can use any valid integer lookback range.
  • Will show values in Data Window


Indicator’s Parameters

  • Longer range width (lookback) in bars – This is the 7 of NR7. You can change the range to any logical integer value.
  • Shorter range width (lookback) in bars – This is the 4 of NR4. You can change the range to any logical integer value.
  • Symbol char code – This is the integer character code from the Wingdings characters. See the MQL5 “Object Constants” for specifics.
  • Show highest/lowest of range – Boolean that shows/hides the Highest (HI7) and Lowest (LO7) bars.
  • Show widest of range – Boolean that shows/hides the Widest (WI7) bars.
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Peter Stone
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Peter Stone 2025.01.19 03:28 
 

After installation, the indicator is working fine. But, after a short period of time, all the indicators are not showing. Do you know what happen? How to solve?

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