OPEN-SOURCE SCRIPT
BB %b & RSI Indicator & Alert
Updated
Indicator for displaying both RSI and a normalized Bollinger Bands %b (Usual 0 - 1 range of BB normalized to the 30 - 70 OB/OS range of RSI) simultaneously.
Settable periods for RSI and BB, and settable standard deviation for BB.
When both Bollinger Bands %b and RSI are OB/OS then the column will turn blue and a buy/sell arrow will appear in the indicator provided other conditions pertaining to the OB/OS condition in one of the last two candles are also met.
You can also set an alert on the arrow indicator appearing.
I use this mainly for Cryptocurrencies, though it is usable in Forex, for shorter time periods to indicate possible trade opportunities.
Settable periods for RSI and BB, and settable standard deviation for BB.
When both Bollinger Bands %b and RSI are OB/OS then the column will turn blue and a buy/sell arrow will appear in the indicator provided other conditions pertaining to the OB/OS condition in one of the last two candles are also met.
You can also set an alert on the arrow indicator appearing.
I use this mainly for Cryptocurrencies, though it is usable in Forex, for shorter time periods to indicate possible trade opportunities.
Release Notes
Small bugfixRelease Notes
Small bugfixRelease Notes
- Several enhancements and tweaks- Added selectable combination alert or individual buy or sell alerts
- Moved buy and sell arrows to opposite sides to enhance visibility (often obscured by plot lines before)
Release Notes
Fixed typo in alert.Release Notes
small fixRelease Notes
Removed limitation for up/down arrows only on 60 minute charts or less. Added separate alerts for buy or sell. A few other small tweaks.Release Notes
Small tweaks.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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