NR7 screener
NR7 screener
Sure, the NR7 screener is a technical analysis tool that helps traders identify stocks that have been trading in a narrow range for the past seven days. These stocks are potential breakout candidates, meaning that they may be poised for a sharp move higher or lower.
Here's an image of the NR7 screener on the Chartink platform:
The NR7 screener displays a list of stocks, along with their symbol, last traded price (LTP), open interest (OI), NR9, NR7, and NR4 values. The NR9, NR7, and NR4 values represent the highest and lowest prices of the stock over the past 9, 7, and 4 days, respectively.
Here's how to use the NR7 screener:
- Set filters based on the NR9, NR7, and NR4 values. For example, you might want to screen for stocks that have been trading in a narrow range for the past seven days but have also recently broken above their NR7 high.
- Consider other factors, such as the stock's fundamentals, before making any investment decisions. Technical analysis is just one piece of the puzzle.
- Remember that no technical indicator is foolproof. Always do your own research before making any investment decisions.
Here are some additional things to keep in mind when using the NR7 screener:
- The NR7 screener is just one of many technical indicators that can be used to identify potential breakout stocks. There is no guarantee that stocks that appear on the NR7 screener will actually break out.
- It is important to consider other factors, such as the stock's fundamentals, before making any investment decisions.
- Technical analysis is a complex subject. It is important to have a good understanding of technical analysis before using it to make investment decisions.
I hope this helps! Let me know if you have any other questions.
https://drive.google.com/drive/folders/1FoP0Md6H08bIL9gbYYKqPPjerUI12gSN
https://sites.google.com/view/nr7-screener/
https://merchandise01.blogspot.com/2024/01/nr7-screener.html
https://bit.ly/3TMkrTv