Trading Terms from Tony Crabel (NR7, WS7, etc...)

[Soultrader]

Terms are taken from Tony Crabel's famous book, "Day Trading with Short Term Price Patterns & Opening Range Breakout".
This book is extremely rare and close to impossible to find. I have seen copies being sold on ebay for close to $1000.

NR; Narrow Range - Today's trading range was narrower than the previous days range.
NR7; Narrow Range 7 - Similar to the NR. The range was the narrowest compared to the last 7 trading days.
WS; Wide Spread - Exact opposite of the NR. Today's trading range was wider than the previous days range.
WS7; Wide Spread 7 - Similar to the WS. The range was the widest compared to the last 7 trading days.

Inside Day - Price bar in which the high is lower than the previous days high AND the low is higher than the previous days low.
Outside Day - Price bar in which the high is higher than the previous days high AND the low is lower than the previous days low.
IDnr4 - An inside day with the narrowest trading range in the last 4 trading session's.

Bear Hook - NR with Open < Previous Low and Close > Previous Close.
Bull Hook - NR with Open > Previous High and Close < Previous Close.
Stretch - The 10 period SMA of the absolute difference between the open and either the high or low, whichever difference is smaller.