NR7 Template

17:20 Ensign Howard: Next topic for training is on a DYO I did recently for a user on the topic of Narrow Range 7 bars.

17:21 Ensign Howard: This DYO example does a couple clever things, such as use the Bar Offset to reference prior bars. We used 6 lines of the DYO to read the bar ranges of the prior 6 bars and stored these 6 values in adjacent Global Variables, 1 though 6.

17:22 Ensign Howard: Line G then finds the Minimum value in a set of GVs, and the set size is the Number field value of 6, and the starting position of the set is the Read GV index of 1. So this function returns the smallest of the ranges for the prior 6 bars.

17:23 Ensign Howard: This value is then compared with the current bar's Range and when the current bar range is smaller then it is marked with the pink chevron

17:24 Ensign Howard: This example shows referencing earlier bars with the negative Bar Offset values, and finding the Minimum value in a set of GVs.

17:24 Ensign Howard: Any question about this example for the NR7 concept, which is to flag the bar if it is the smallest range in a set of seven bars. We have NR7 already built into the Donchian Channel study, and prefer you use that study if you want to mark NR7 bars.

17:26 Ensign Howard: The DYO was done to show concepts and the user wanted to do something with alert signals he did not feel he could do with the Donchian channel.

17:27 Ensign Howard: OK, it is uploaded and will show on the Template dropdown list on the Internet Services form. Enjoy.

17:28 marketguy: How do we set NR7 in Donchian study?

17:29 Ensign Howard: marketguy, on the Donchian property form is a check box for show NR7 and it uses the marker on the top line

17:29 Ensign Howard: Let me post example of the Donchian

17:32 Ensign Howard: Here is an example, but as I marked it with arrows I realized I had not changed the 1st parameter to be a 7, so that is a small mistake. For a NR7 you need 1st parameter on 7. My example is really a NR 6. And the Donchian channel lines are not being plotted, but they could be if you want them to show