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Old 03-06-2013, 12:31 AM
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Default Narrow Range Bar Trading System

Nothing new Narrow range Bar trading system is one of the old, simple yet very profitable way of trading. I have seen many traders who are trading only and only on this system.

Well this thread will be bit different which you generally see on other forums.

We will be trading on three types of concept

1) NR 21 : Stocks which made Narrow range Bar of last 21 days

2) Inside Bar (Bullish harami / Bearish Harami) + NR21 or NR7

3) NR 21 / NR 7 where either of high / low of Bar is almost equal to previous Bar.

We will selecting these stocks on EOD basis.


Problem with this trading system is : After an outside day(like last Friday) not many stocks comes in scan and when Nifty itself makes Narrow range Bar then there are so many stocks under this category .

Filtration : We will select stocks which are in some definite trend, just had a pause today and now they can either resume or reverse their current trend as well we will select highly liquid stocks only.

(It will be more clear in coming days with live examples)

Since Friday was a big outside day so today not many stocks are NR21 so practical we will be doing from tomorrow.


Now question is how to find / search / scan Narrow Range stocks ?

Some one can make Afl then it will be better for Ami users.
Alternatively you can use my software's free version i.e Keystocks lite , its totally free.

You can download it directly from www.keystock.co.in/keystocks-lite.zip

Windows XP users will require .net framework 3.5


For support on software , i am available at Inditraders most of time during day.
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Old 03-06-2013, 12:50 AM
TrendCatcher123 TrendCatcher123 is offline
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a very gud initiative/thread buddy v need some quality threads like these! otherwise, of late i thot tht here quantity is given preference over quality

a v nice gesture on ur s/w part. i didnt knw ur s/w is free (or making it free). so nice of u this how u differentiate urself wid braggers, narcissists and boasters who are living in their virtual fantasy world!

btw cn u rechristen Narrow range Bar trading system as ASNRBS (ashish sharma narrow range bar system) - u see its a fad nowadays to rechristen already proven methods

ALL THE BEST IN THIS ENDEAVO

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Old 03-06-2013, 01:01 AM
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Originally Posted by TrendCatcher123 View Post
btw cn u rechristen Narrow range Bar trading system as ASNRBS (ashish sharma narrow range bar system) - u see its a fad nowadays to rechristen already proven methods

Well i can ask for copyright of NR21 but never thought of since all of my little knowledge is gained from here only . So nothing is mine its ours
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Old 03-06-2013, 09:42 AM
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Originally Posted by ashish.sharma View Post
Since Friday was a big outside day so today not many stocks are NR21 so practical we will be doing from tomorrow.


Only one stock came as result in NR21 scan among high liquid stock.

HeroMoto Corp : Friday high 1751.4 and low 1726.7

How to trade : Simple buy above Friday's high and short below friday's low.

What should be SL and Target : It depends on trader to trader , personally i trade them for 1 % target with 1% stoploss only.

Suppose Nifty trend in down and heromoto also gave opportunity to short then we can think of little bit big target.
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Old 03-06-2013, 10:43 AM
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BAJAJ FINANCE LIMITED also made the cut as per my data (nse cash)
high 1478 low 1456
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Old 03-06-2013, 10:54 AM
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Originally Posted by achinj View Post
BAJAJ FINANCE LIMITED also made the cut as per my data (nse cash)
high 1478 low 1456

Yes it is also one among, but i follow only 200 Mostly traded stocks for trading
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Old 03-06-2013, 07:36 PM
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Originally Posted by ashish.sharma View Post

Filtration : We will select stocks which are in some definite trend, just had a pause today and now they can either resume or reverse their current trend as well we will select highly liquid stocks only.

(It will be more clear in coming days with live examples)



Stock : Lovable




Stock : Aban




Stock : Canbk




Which stock we should select and which should be left ??

I will not trade Lovable on basis of NR21 since it is not trending at this moment , while Aban and CANBK are in some trend tomorrow they can either continue their current trend or reverse their trend.

** It does not means lovable is not tradable, i just meant to say it is not tradeable in this setup and may or may not give good movement tomorrow due to some other setup.
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Old 03-06-2013, 07:55 PM
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NR21 Stocks for Tuesday

How to trade : Buy above high or short below low (otherwise specified)

ABAN : High 297.1 low 290.1

ACC : High 1228 Low 1211.15 (Inside bar and yesterday low i.e 1208 is near, may prove as hurdle so better short below 1208 )

CanBK : High 414 Low 406 (Inside bar and yesterday low i.e 405.55 is near, so better short below 405.55 )
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Old 03-06-2013, 09:21 PM
rkkarnani rkkarnani is offline
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Ashish, Just an observation, not trying to criticize....
Just like MA isnt NR21 just a figure? May be NR7 is enough or NR11 maybe better or NR24 is the best.
I do realise that all NR21 shall also be NR7 ! There will be more trades in NR7 ! Normally the NR21 bar range shall be lower than NR7 range !
Main thing is we are looking for a Range expansion after a sustained narrowing of the same. So does NR21 score over NR7 in terms of results???
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Old 03-06-2013, 09:31 PM
rkkarnani rkkarnani is offline
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Originally Posted by ashish.sharma View Post
NR21 Stocks for Tuesday

How to trade : Buy above high or short below low (otherwise specified)

ABAN : High 297.1 low 290.1

ACC : High 1228 Low 1211.15 (Inside bar and yesterday low i.e 1208 is near, may prove as hurdle so better short below 1208 )

CanBK : High 414 Low 406 (Inside bar and yesterday low i.e 405.55 is near, so better short below 405.55 )

Ashish, Please recheck, In Metastock for NR21 Scan none of these Stocks was listed. I scanned CASH shares as ABAN is there.
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