kinetix360

Bollinger Bands %RSI

389 1 97
Hi All,
I am not a programmer, but I tried to buid BB% of RSI , base of John Bollinger' book. I cut and paste the function from LazyBear MFI/RSI BB indicator and original BB% scripts. Now, I need help for 2 things :

1. I already check by side with LazyBear indicator for the OB/OS, and all are good. One thing I don't understand is why we build the Basis for bb using "sma" ? any one can help me to understand with this?

2. I am happy with this, but I need to make the Source Price become customisable (close, hl/2, hlc/3, etc). and I don't know how to set it up. please help me with this.

Thank you.
Remove from Favorite Scripts Add to Favorite Scripts
study(title = "Bollinger Bands %RSI", shorttitle = "BB %RSI")

source = hlc3
length = input(14, minval=1), mult = input(2.0, minval=0.001, maxval=50)
HighlightBreaches=input(true, title="Highlight Oversold/Overbought?", type=bool)

//Define RSI
rsi_s = rsi(source, length)


// BB of RSI

basis = sma(rsi_s, length)
dev = mult * stdev(rsi_s, length)
upper = basis + dev
lower = basis - dev

bbr = (rsi_s - lower)/(upper - lower)
plot(bbr, color=teal)
band1 = hline(1, color=gray, linestyle=dashed)
band0 = hline(0, color=gray, linestyle=dashed)
fill(band1, band0, color=teal)

//p1 = plot(upper, color=blue)
//p2 = plot(lower, color=blue)
//fill(p1,p2, blue)

b_color = (rsi_s > upper) ? red : (rsi_s < lower) ? green : na
bgcolor(HighlightBreaches ? b_color : na)
snapshot


Good tool. Have you toyed with the different moving averages for Line 13?
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out