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Louie  
#1 Posted : Thursday, August 31, 2006 3:15:15 PM(UTC)
Louie

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Joined: 3/20/2006(UTC)
Posts: 7
Does anyone have the Metastock code for the NR7? Any help would be greatly appreciated..
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wabbit  
#2 Posted : Thursday, August 31, 2006 7:08:25 PM(UTC)
wabbit

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Louie,

Do you have the code for the ABC32 indicator? Of course you don't, because you have absolutely no idea of what I am talking about!

If you have to refer to a formula by name, can you please include the original author or some reference as to where the indicator comes from. Not everyone here has read every TA and investing book. You might be able to bandy around phrases like "NR7" but it means absolutely nothing to me. If you had said that "NR" stands for narrowest range, and 7 is the period, then we would not have to hunt down codes ourselves on your behalf. You could have mentioned it is also included on page 100 of "Trading Tactics" as to give another clue to its inception (it's yet another book I dont have so it wouldn't have helped me) but it could help a Google search.

Luckily I had done some work for a client previously so had some idea of what the NR stood for, but wasn't aware that people changed time frames!

Code:

prd:=7;
range:=H-L;
signal:=range<Ref(LLV(range,prd-1),-1);
signal;


Just understanding that you are looking for the smallest value in the range on a single bar in a number of periods would have yielded a similar result.


Hope this helps.

wabbit [:D]
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Louie  
#3 Posted : Thursday, August 31, 2006 9:34:46 PM(UTC)
Louie

Rank: Newbie

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Joined: 3/20/2006(UTC)
Posts: 7

Hey Wabbit;

Thanks for the reply. I appreciate your time. I also apologize for the jargon.. I should know better since we have to deal with the everyday jargons like PMS and so on.. LOL..

NR7 is a chart pattern, not indicator, based on traditional candlesticks/bars. NR7 means that the last candlestick/bar has the narrowest price range of the last 7 candlesticks/bars. It could really be used with any range: not only seven.. I just seen the 7 used very often. I don't really know who the author is. I just came across it using TC2000. This pattern really rocks and spots some good breakouts.

The chart pattern shows when a stock’s price is in a short-term pattern of decreasing volatility. It's like a triangle chart pattern, but with more emphasis on the volatility, and less emphasis on the specific shape or direction; meaning, it can spot and ascending/decending triangles, pennants, and even flags in some cases. It's great to spot break outs (specially when used with the ADX and the MACD or Stoch to confirm).

If this is the code, thanks a million.. I have been doing this the old way (using and abusing my eyes to scan tens of charts).

Thanks..

Louie[:D]
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mt4eas  
#4 Posted : Sunday, September 9, 2018 11:54:14 AM(UTC)
mt4eas

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Joined: 3/12/2012(UTC)
Posts: 5

First create an indicator as below

NR7 {the name shud be only this} RANGE:=H-L; NR7:=If(RANGE<Ref(RANGE,-1) AND RANGE<Ref(RANGE,-2) AND RANGE<Ref(RANGE,-3) AND RANGE<Ref(RANGE,-4) AND RANGE<Ref(RANGE,-5) AND RANGE<Ref(RANGE,-6),1,0); NR7

{Then create a metastock system tester – u can give ur own name}

Buy Order: REF(Fml( “NR7”),-1) =1 and h>(0.05+ref(h,-1)) and REF(l,-1)> REF(Mov(c,5,s),-1)

{For profit stop we are using a trailing 5 period MA. Therfore We have included and REF(l,-1)> REF(Mov(c,5,s),-1) in order to avoid controvacies. i.e. we are not entering long is the low of the NR7 is lesser than 5 period MA. If anybody have better suggestion u can give}

Order type STOP LIMIT

{We are doing all trades in stop loss basis only, If NR7 method gives a buy and yest high is 357.50, then we are giving a stop loss buying at 357.55, i.e. 0.05 paisa plus yest high}

Stop Price 0.05+REF(H,-1)

Expiration Good gor Day ___________

Sell order IF(REF( Fml( “NR7”) ,-1)=1,l<(REF(L,-1)-0.05),l<REF(mov(c,5,s),-1))

{If yest is NR7 then we have bought today, our s/l is yest’s low less 5 paise. In other cas, If we have entered yesterday or older then if the prices cuts 5 day MA(of yest) then we are closing by S/l. This will work as a trailing stop loss and also a profit stop. We will put stop loss in the mkt opening itself with trigger is yest’s 5 day MA if we have entered yest or older. If we have entered today, i.e. if yest is NR7, We will put a stop loss at yest’s low less 5 paisa.}

Order type Stop Limit

Stop Price: IF(REF( Fml( “NR7”),-1)=1,(REF(L,-1)-0.05) , REF(Mov(c ,5 ,s ),-1) )

Expiration Good gor Day __________________

Sell Short Order

REF(Fml( “NR7”),-1) =1 and L<(-0.05+ref(l,-1)) and REF(h,-1)< REF(Mov(c,5,s),-1)

Order type Stop Limit

Stop Price: -0.05+REF(l,-1)

Expiration Good gor Day

__________

Buy to Cover Order

IF(REF( Fml( “NR7”) ,-1)=1,h>(REF(h,-1)+0.05),h>REF(mov(c,5,s),-1))

Order type: Stop Limit

Limt Price: IF(REF( Fml( “NR7”),-1)=1,(REF(L,-1)-0.05) , REf(Mov(c ,5 ,s ),-1) )

Expiration

Good for Day

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