OPEN-SOURCE SCRIPT
Range Bound Channel Index (RBCI) w/ Expanded Source Types [Loxx]
Range Bound Channel Index (RBCI) w/ Expanded Source Types [Loxx] is a reversal and trend indicator. This version includes Bollinger bands to show trend exhaustion
What is Range Bound Channel Index (RBCI)?
Range Bound Channel Index (RBCI) is calculated by using a channel (bandwidth) filter (CF). Channel filter simultaneously fulfills two functions: removes low frequent trend formed by low frequent components of the spectrum; removes high frequency noise formed by the high frequent components of the spectrum.
When RBCI approaches its local maximum the prices approach upper border of the trading channel and when RBCI approach its local minimum the prices approach the lower border of the trading corridor.
Included:
-Toggle on/off bar coloring
-Loxx's Expanded Source Types
What is Range Bound Channel Index (RBCI)?
Range Bound Channel Index (RBCI) is calculated by using a channel (bandwidth) filter (CF). Channel filter simultaneously fulfills two functions: removes low frequent trend formed by low frequent components of the spectrum; removes high frequency noise formed by the high frequent components of the spectrum.
When RBCI approaches its local maximum the prices approach upper border of the trading channel and when RBCI approach its local minimum the prices approach the lower border of the trading corridor.
Included:
-Toggle on/off bar coloring
-Loxx's Expanded Source Types
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Open-source script
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