Narrow Range Timeframe

4.5

This indicator utilizes the Narrow Range 7 concept. This concept says that if the seventh candle is the one with the smallest range, that is, the smallest difference between maximum and minimum of all 7 candles. The indicator marks this candle with two markers and waits for a breakout to happens in the next 6 candles.

It's called "timeframe" because if in the next 6 candles the breakout not happens, it will remove all marks on candle. If it exceeds 7 times the timeframe, it also will remove the marks. Let's say a trading session is 9 hours and third candle on H1 timeframe, it is waiting a breakout. But, in that session there was no breakout. In the next trading session, the previous marked candle will be unmarked because the breakout didn't happen.

This indicator shares some index information:

  • 0, value marked on graph or zero
  • 1, color index
  • 2, lower value marked during waiting
  • 3, candle ponctuaction (to count sequential NR7)
  • 4, highest high on 6 previous candles
  • 5, lowest low on 6 previous candles
  • 6, how many active marks waiting a breakout

I invite you to know our other product: Weis Wave!

Reviews 5
jmlocatelli
53
jmlocatelli 2024.06.14 15:07 
 

Ola, Obrigado por disponibilizar esse indicador. Procurando uma implementação mais elaborada de NR7 e encontrei a sua. Tentando testar uma estratégia baseado nele. Como Crabel sugere utilizar 4 ou 7 dias (barras), o número de dias poderia ser um parametro de entrada.

Mustafa Nail Sertoglu
1087
Mustafa Nail Sertoglu 2023.12.02 17:25 
 

Trying to get the logic and coordination with my trading style, thx for sharing

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Stormer RSI 2
Ricardo Rodrigues Lucca
This strategy was learned from Stormer to be used on B3. Basically, 15 minutes before closing the market, it will check RSI and decided if it will open an position. This strategy do not define a stop loss. If the take profit reach the entry price it will close at market the position. The same happens if the maximal number of days is reached. It is created to brazilian people, so all configuration are in portuguese. Sorry Activations allowed have been set to 50.
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jmlocatelli
53
jmlocatelli 2024.06.14 15:07 
 

Ola, Obrigado por disponibilizar esse indicador. Procurando uma implementação mais elaborada de NR7 e encontrei a sua. Tentando testar uma estratégia baseado nele. Como Crabel sugere utilizar 4 ou 7 dias (barras), o número de dias poderia ser um parametro de entrada.

Ricardo Rodrigues Lucca
5378
Reply from developer Ricardo Rodrigues Lucca 2024.06.15 00:43
Lembre-se somente que esse NR7 não é 7 barras ou velas e sim dias então ha uma variação de numero de velas dentro do tempo de 7 dias.
Mustafa Nail Sertoglu
1087
Mustafa Nail Sertoglu 2023.12.02 17:25 
 

Trying to get the logic and coordination with my trading style, thx for sharing

Ricardo Rodrigues Lucca
5378
Reply from developer Ricardo Rodrigues Lucca 2023.12.03 05:05
Thank you for review it.
Eduardo Aparizi
228
Eduardo Aparizi 2022.03.23 14:37 
 

Repinta?

Ricardo Rodrigues Lucca
5378
Reply from developer Ricardo Rodrigues Lucca 2022.03.23 17:10
Sim.
jleiton
94
jleiton 2022.02.17 02:40 
 

User didn't leave any comment to the rating

Aleksandr Tamonin
4108
Aleksandr Tamonin 2021.01.24 12:07 
 

User didn't leave any comment to the rating

Ricardo Rodrigues Lucca
5378
Reply from developer Ricardo Rodrigues Lucca 2021.01.24 13:47
Thank you.
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