Sunit's ID / NR4 / NR7 / IDNR4 / IDNR7 + LVQ/LVY/LVE

This indicator identifies some of the most powerful price compression patterns used in short-term and swing trading, including:

Inside Day (ID)

NR4 (Narrowest Range in 4 Bars)

NR7 (Narrowest Range in 7 Bars)

IDNR4 (Inside Day + NR4)

IDNR7 (Inside Day + NR7)

Along with volume-based exhaustion signals:

LVQ — Lowest Volume in Quarter

LVY — Lowest Volume in Year

LVE — Lowest Volume Ever (dataset minimum)

These patterns originate from volatility breakout logic used by Toby Crabel, quantitative traders, prop firms, and systematic momentum strategies.

🎯 Why These Patterns Matter

Markets move in a cycle:

Volatility contraction → Volatility expansion → Trend continuation or reversal.

NR4, NR7, and Inside Days highlight tight consolidation, where market participants become indecisive.
Low-volume conditions (LVQ/LVY/LVE) often signal complete disinterest — usually right before volatility expansion.

When price compression AND volume contraction occur together, it often precedes:

✔ Breakouts
✔ Trend continuation
✔ Momentum bursts
✔ Opening Range Breakouts (ORB)
✔ Swing explosive moves

This script highlights those conditions visually and generates optional alerts.

🧠 Trade Application Ideas

This is NOT a buy/sell indicator — it's a setup detector.

Common use cases:

Day trading / Opening Range Breakouts (ORB)

Swing trading volatility expansion

Scanning for breakout candidates

Filtering for best risk-reward environments

Momentum burst and continuation setups

Mean reversion failure traps (failed breakouts)

Best timeframes: Daily, 4H, 1H
(Though intraday scalpers may also use it.)

🛠 Features Included

✔ Highlights ID, NR4, NR7, IDNR4, IDNR7 patterns
✔ Separate color coding for each pattern
✔ Labels plotted on chart
✔ Volume exhaustion tags (LVQ, LVY, LVE)
✔ Compression combo detection (price + volume)
✔ Fully configurable options
✔ Works on stocks, futures, crypto, forex
✔ Built in TradingView Alerts for every pattern

Ideal for scans, dashboards, and watchlist building.

🧭 Best Practice Workflow

Night Before / After Market Close:

Scan for IDNR7, IDNR4, NR7, NR4

Add any with LVQ / LVY / LVE to watchlist

The next day: wait for breakout levels or ORB structure

Next Day Execution Examples:

ORB breakout above Inside Day/NR high

Break of previous high/low with volume

Trend continuation in direction aligned with broader structure

⚠️ Notes / Disclaimer

This tool does not generate direct buy/sell signals.

It is a market structure scanner for discretionary or systematic setups.

Always combine with context: trend, liquidity, ATR, session behavior.