Zamboniman

BB %b & RSI Indicator & Alert

Zamboniman 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.
Release Notes:
Small bugfix
Release Notes:
Small bugfix
Release 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 fix
Release 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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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