Introduction to NR7 STOCKS

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There are many ways to short list stocks for intraday, one such method is called as NR7 method. Trading using NR7 Method: Market goes through regular contraction (i.e. daily trading range getting shorter and shorter) and expansion (i.e. daily trading range getting bigger) cycle. Expanding range is followed by Contraction and vice-versa. So if we can indetify the narrow range days, then it give us a step ahead of everybody to benefit from coming expansion. 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. It is that simple. This is one of my favorite setup. It gives u a chance to be ahead of trade 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. Or Go short below the Day's Low of NR7 day with stop at the Day's High of NR7 day. Traders just need to place both buy and short order, Once the orders are placed, we just need to wait for the stock to either go up and trigger our buy order or go down and trigger our short order. But there are two major issues traders face with NR7 strategy. https://t.me/Algo_Trad

1. Sometimes there are more than 10 to 15 stocks that comes in NR7 watchlist, unable
to place all orders.
2. Sometimes after we place the order, the stock hits stop loss and reverses in opposite
direction. If we have not taken the 1st trade and taken only 2nd trade we would
have made profits.
So to simplify further and make it more easier, we just have to wait and watch for the first
order to get trigger, once it gets triggered, we will then place the second order in our
trading account.

We have developed Telegram bot
(https://t.me/Algo_Trad ) for Zerodha & Upstox users,

https://t.me/Algo_Trad



Sample alert: So its now easier for the user to place orders, as and when they get the alert, they can simply place the order. And even you get a confirmation alert if those orders are executed. Once the user gets the notification in Telegram, he can click of the button “Trade now in Zerodha” or “Trade now in Upstox” Here’s how the execution can be done from Telegram itself. 

You can change the quantity ( as well as other parameters too) while placing the order as it shown below Complete your order within minute from your mobile as well as in pc Hope this article is helpful For queries mail us to algozerodha@gmail.com