NR7 Indicator

NR7 is a narrow range over the past 7 candles, range contraction leads to range expansion! Think of it like a potential turning point in stock movement, like a pivot point . The common school of thought is to treat a "7" like an indecision candle, using a bracket order or long/short if you only want to take it a single direction. You can find a free tool that lists a stocks making an NR7 here:
Open-source script

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.

Want to use this script on a chart?


Simply click "add to favorite scripts" button, then go to your indicators, pick it from the list and click "add to chart". That's it!
+4 Reply
Thanks for sharing this, and the link. You are very kind.
+1 Reply
I have found that usually the stock bought goes up a few points but sees sell candles the same day, unless it's a trending day
thanks Matt, very cool