Originator of the NR4/NR7 narrow-range patterns
Toby Crabel
Toby Crabel founded Crabel Capital Management in 1997 as the successor to his trading sole proprietorship. He wrote Day Trading With Short Term Price Patterns and Opening Range Breakout (1990), the source of the NR4 and NR7 patterns, and is also a former NCAA Division II All-American tennis player.
What they argue
- Volatility contraction, such as the narrowest range in seven days, tends to be followed by volatility expansion.
- Short-term breakout trades must work right away; Crabel took profits quickly, often at the first close or first profitable close.
Sources
Summaries are Be The Puck's paraphrase of public material. Be The Puck has no affiliation with the people listed.
Books and papers
- Day Trading With Short Term Price Patterns and Opening Range Breakout (1990)
Toby Crabel's NR7 breakout (daily)
Rule and full recordBreakouts & channels · daily
An NR7 day has the narrowest high-to-low range of the last seven. Quiet days tend to come before big moves, so buy a close above that day's high and sell a close below its low.
In right now199 of 377As of the Oct 13, 2026 close.
Best risk-adjusted results against buy and hold: