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I would like to know if anyone knows of an existing efs based on Crabels work, that would identify an Narrow Range 4 bar, a Narrow Range 7 bar, and either place an indicator above the bar and/or trigger an alert? I am pretty sure I have seen such a study, but cannot seem to locate it. Thanks
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rdick
Run a Search using narrow as the Keyword and you should find some scripts that identify narrow range days.
Alex -
I use something called 'Color Bars + NR7-WR7.efs' that I downloaded some time ago. I don't know if it does NR4s but can be easily modified.
I don't know where I got it but it was probably in file share.Comment
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Hay guys, did either of you ever find these files? If so, can you point me to them?
Also, what type of time frames/strategies/markets are you using them for, if you don't mind my asking?Comment
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Wasn't looking -- thought you had enough info to figure it out.
Anyway, I searched 'efs' and 'NR7' on Google and got this link to get you started:
I don't use NR4/WR4's as that is little better than a coin toss. I am usually more interested in a market that is reflected in a NR7 on a daily chart. I haven't used weekly but I probably should as the results would probably be much stronger. Basically I am looking for market contraction, as that precedes range expansion and a more trending market. The NR7 is just one of the indicators I use for that purpose and even then not a major one. Probably the most important point is that you should be more aggressive playing the breakout following a NR7 and more aggressive fading it following a WR7.Comment
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Thanks Buhrmaster for the insight and for finding that file.
Happy Holidays.Comment
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