Sir, I have created a Google sheet scanner. Of NR 4 and NR 7.
Formula of NR4 :
Supposed all r green candle then formula will be:
(Day4 close – Day 4 open)<(Day3 close – Day 3 open)<(Day2 close – Day 2 open)<(Day1 close – Day 1 open).
And Day 4 is NR 4.
Is the calculation correct??
And trade set up:
Buy on above price break out of day 4 upper range with volume.
Stop loss 50% of that day 4’s range.
Exit half on 0.5% and rest half trailing stop loss.
I back tested it works better I.e monthly 8-9 trades. But I want confirmation from you sir.
I do
Only cash market.
Only F&O stocks price above 200 volume above 5 lacs.