The strategy closes the long trade next time the daily close is larger than the open in any of the next trading days. In addition the NR7ID can be colored (the color is green when the close is larger that day than the open, else the color is red) and the can be drawn with a color based on the direction of the slope. To fine-tune the strategy it is highly recommended to change the period length of the , which determines if the measured slope is upwards or not.
How to trade NR7 and Inside Day Pattern
NR7 indicator script from Tradingview user Lazybear:
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.