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Narrow Range 4 / NR 4 Scanner
| Code | Price | Chart | |||||
|---|---|---|---|---|---|---|---|
| AADHARHFC | 456.8 | ||||||
| AARTIPHARM | 826.95 | ||||||
| ADANIENSOL | 1373.0 | ||||||
| ADANIPORTS | 1764.6 | ||||||
| ATGL | 594.8 | ||||||
| ABCAPITAL | 395.0 | ||||||
| ABLBL | 83.61 | ||||||
| CPPLUS | 3825.5 | ||||||
| AFFLE | 1567.6 | ||||||
| AIAENG | 4096.6 | ||||||
| ALIVUS | 1386.8 | ||||||
| ALOKINDS | 7.36 | ||||||
| ANTHEM | 940.9 | ||||||
| APTUS | 249.11 | ||||||
| ATLANTAELE | 1777.8 | ||||||
| AUROPHARMA | 1679.8 | ||||||
| AVANTIFEED | 798.6 | ||||||
| AXISCADES | 1831.8 | ||||||
| BALAMINES | 2276.5 | ||||||
| BALKRISIND | 2164.6 |
Narrow Range 4 (NR4) Scanner
What is Narrow Range 4 (NR4)?
Narrow Range 4 (NR4) is a volatility contraction pattern where the current candle has the smallest high-to-low trading range compared to the previous four candles. It indicates reduced market volatility and often precedes a significant price expansion. Traders monitor NR4 setups for potential breakout opportunities in either direction.
How the NR4 Pattern Forms
- The market experiences normal price fluctuations over several candles.
- The latest candle records the narrowest trading range among the last four candles.
- The shrinking range reflects reduced volatility and temporary market indecision.
- Buyers and sellers remain in balance as the price consolidates.
- A breakout above the high or below the low of the NR4 candle often signals the next directional move.
Trading Strategy
- Monitor the high and low of the NR4 candle for potential breakout levels.
- Enter a trade only after a confirmed breakout in either direction.
- Many traders place a stop-loss on the opposite side of the NR4 candle.
- Use volume and trend confirmation indicators to improve the reliability of breakout signals.
Advantages
- Helps identify periods of low volatility before strong price movements.
- Provides clearly defined breakout and stop-loss levels.
- Can capture both bullish and bearish breakout opportunities.
- Suitable for swing, and positional trading across multiple timeframes.
TSR Scanner Features
- Real-Time Alerts: Set up alerts to get notified exactly as the condition meets.
- Fine-Tune Filter: Combine with volume and TSR strength index for better accuracy.
- Custom Tracking: Filter signals based on specific stock baskets or your personalized watchlist.
- Backtesting Capabilities: Evaluate historical data to gain confidence.
- Flexible Timeframes: Filter intervals from 1-minute to monthly ticks.
- Auto Refresh: Keeps your scanner data continuously updated.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.