NR4 NR7 Stock Screener

What is NR4 NR7 Stock Screener?

NR4 stands for "Narrow Range 4," and NR7 stands for "Narrow Range 7," referring to the specific number of trading days used to calculate the narrow range. This screener will help you to identify stocks that have experienced a period of reduced price fluctuation, potentially indicating an imminent breakout.

For example:- the NR4 scanner identifies stocks that have had a four-day narrow range, while the NR7 scanner identifies those with a seven-day narrow range. By spotting such patterns, you can make informed decisions on when to enter or exit positions, harnessing the principle that volatility contraction often precedes volatility expansion. You receive stock data, including symbol names, last traded prices (LTP), open interest (OI), and lists of NR9, NR7, and NR4 stocks for the following day. These NR4 and NR7 stocks are particularly useful for identifying those that were part of the NR breakout list at the end of the trading day and have subsequently crossed either the high or low of the NR candle while also staying within the range of previous candles in the live market. This can be a valuable strategy if you are looking to capitalize on short-term price movements in the stock market.

What is Narrow Range Strategy?

Narrow Range Trading is a breakout based strategy that assumes that the stock price will move up or down after the stocks consolidate in the narrow range. The breakout may happen in either direction.

What is the NR7 Trading Strategy?

NR7 stands for “Narrow Range of seven days” As the name tells us, NR7 strategy is used to recognize NR7 stocks where the range is narrowing, and the current day range is the smallest than the last seven days ranges. NR7 is a breakout based strategy that assumes that the stock price will move up or down after the stocks consolidate in the narrow range. The breakout may happen in either direction.

NR7 candlestick pattern is composed of seven candles. The current day candle should have a lower price range than the last six days candles, then it is considered as NR7. In the below image, you can clearly see that the seventh bar has a shorter range than the last six days candles. We can clearly say that NR4 is formed.

In a simple way, to confirm NR7 stocks, you have to check the last six day’s price range. Then you have to observe that the last six days candles range should be more than the current day range, then the pattern is considered as NR7. You can check the list of NR7 stocks today (NR7 scanner for intraday) here.

In the NR7, the breakout happens when the stock price is above the top or below the bottom of the NR7 candle. If the breakout occurs at the top of NR7 candle, then it indicates a bullish market, and in the same way, if the breakout occurs at the lower side of NR7 candle, then it indicates the market is bearish.

Features available in the NR4 and NR7 Live Breakouts

NR4/NR7 screener lists down stocks that were in Narrow Range breakout list end of day and have crossed high or low of NR candle in live market. You get data of a stock like a symbol name, LTP, OI, NR9, NR7, NR4 stocks for tomorrow, inside the bar.

How to find NR7 Day?

• Collect the high and low data of the last seven days.
• Find the range of every candle.
• Examine current day candle range with the last six days candles.
• If the current day candlestick price range is less than the last six days, then it is NR7 or else it is not an NR7 candlestick pattern.
• After confirming NR7 pattern, traders can take buy position when the current bar is moving up and in the same way, when the current bar is moving down then traders can sell their position.

Example of NR7 Trading Strategy

The below example is PVR LTD. We can clearly say that the current day’s candle range is smaller than the last 7 days. If the Break out happens above the last candle, it is considered as a bullish market, and the breakout below the candle is considered a bearish market. It is always recommended to select the stock with NR7 breakout with high volume.

What is the NR4 Trading Strategy?

NR4 stands for “Narrow Range of four days” As the name tells us, the NR4 scanner is used to recognize stocks where the range is narrowing, and the current day range is smaller than the last four day's ranges. NR4 is a breakout based strategy that assumes that the stock price will move up or down after the stocks consolidate in the narrow range. The breakout may happen in either direction.

This candlestick pattern is composed of four candles. The current day candle should have a lower price range than the last three candles, then it is considered as NR4. In the below image, you can clearly see that the fourth bar has a shorter range than the last three days candles. We can clearly say that NR4 is formed.

In a simple way, to confirm NR4 stocks, you have to check the last four days range. Then you have to observe that the last three days candles range should be more than the current day range, then the pattern is considered as NR4.

In the NR4, the breakout happens when the stock price is above the top or below the bottom of the NR4 candle. If the breakout occurs at the top of NR4 candle, then it indicates a bullish market, and in the same way, if the breakout occurs at the lower side of NR4 candle, then it indicates the market is bearish. Bar Range is nothing but the difference between the bar high and bar low.

How to find NR4 Day?

• Collect the high and low data of the last seven days.
• Find the range of every candle.
• Examine current day candle range with the last six days candles.
• If the current day candlestick price range is less than the last six days, then it is NR7 or else it is not an NR7 candlestick pattern.
• After confirming NR7 pattern, traders can take buy position when the current bar is moving up and in the same way, when the current bar is moving down then traders can sell their position.

Example of NR4 Trading Strategy

The below example is PVR LTD. We can clearly say that the current day’s candle range is smaller than the last three days. If the Break out happens above the last candle, it is considered a bullish market, and the breakout below the candle is considered as bearish market.

FAQs

What is NR4 And NR7 in the Stock Market?

NR4 pattern means the narrow range in four days, while the NR7 means the narrow range in seven days. Both of them are short-term candlestick patterns created based on the opening range breakout.

What is Narrow CPR?

Narrow CPR can be determined from the prior day high, low and close. If the average of CPR width is less than 70% from the last 20 days, it is considered as narrow CPR width. If the average of CPR is more than 120% from the last 20 days it is considered as broad CPR width.