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Friday, May 11, 2007

NR7

* Must not overbought
* volume diminshing (significant)
* NR1 volume is at least 2~3 times more than the previous 50 average volume
* NR7 volume should be less the the previous 50 average volume
* If the NR7 is same as the pervious average volume, the force to shoot up will be diminished
* If drop from the top, the bottom will have VERY large volume (very important)
* The NR7 - NR4 have a biger higher volume 2 times higher than NR3-1
* in congestion zone / empty zone
* the trend should be upwards
* fast to response
* risky with good reward
* tight cut lose / risk mangement
* SMA 50, 20 , 10 close / stick with each other ? for downtrend (No must still in uptrend for the price action)
* BB 14 days, 2 dev, closing up ( lower band move upwards quickly than upper band slowly moving downwards)
* uptrend (SMA 50, 20, 10 should upwards) maybe 10 cross 20 (stick together)
* Gap with high volume and then prints NR7
* Becareful other bearish pattern eg. Hell triangle, double top

Still difficult to think about this setup

http://traderjamie.blogspot.com/
http://www.movethemarkets.com/blog/

Filter out OTC and low volume stocks
----------------------------------------------*/
Show stocks where market is not OTCB
Band close is between 1.00 and 100
and average volume(30) is greater than 200000
and volume is greater than 50000

/*NR7 Price and Volume contraction scan
----------------------------------------------*/

and average day point range(1) reached a new 7 day low
and volume is more than 20% below volume 1 day agoand average volume(2) is below average volume(5)

/*Find recent huge volume movers from the NR7 results
---------------------------------------------------------------*/
and average volume(5) is more than 50% above average volume(30)
and volume reached a new 12 week high within the last 3 weeks

/*Change date offset to get results from the past
---------------------------------------------------------*/
and date offset is 0

/*Lines below are just for chart formatting.Change according to your preferences!
-----------------------------------------------------*/
and draw ema(5) and draw ema(30)
and draw average day point range(1) 7 day high

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