Seven bars are required for this price action pattern. If the last bar has the smallest bar range in the sequence, the pattern is NR7. NR7 refers to reduced volatility as well as internal band. The NR7 pattern is a stronger sign of declining volatility because less volatility occurs in the seven-bar context. However, unlike the inside bar, the NR7 pattern can stay within the range of previous bars up or down. This pattern warns of the need to be prepared for sudden chart movements as the market alternates its swing range between contraction and expansion. As a result, it is a popular price action pattern among professional traders.