DislikedThank you for the kind words.
There is so much that can be said here, I may have to use more than one post. First, I do not use the term WRBs. I use Expansion Body 4s (EB4) and Expansion Body 7 (EB7).
Which brings me to the first idea to cover: Volatility.
Many have heard or seen the terms Narrow Range 4 (NR4), Narrow Range 7 (NR7), Wide Range 4 (WR4) and Wide Range (WR7). These terms are ways of talking about price volatility. To these I add EB4 and EB7. EB7 refers to the width (range) of the open to close rather than the entire width or...Ignored
I've looked nr4 and nr7, and the definitions I have found refer to them as the narrowest range bars over the last 4 and 7 bars respectively. I'm presuming that WR4/7 and EB4/7 follow the same definitions. This brings me to my question, what is the significance of reviewing 4 and 7 bars back. For example, why not an NR8 or an NR5?
Looking forward to reading more of your thoughts on trading.