OPEN-SOURCE SCRIPT
RSI+BB BANDS[jackieee]
RSI + BB Bands [jackieee]
This indicator combines RSI, a moving average of RSI, and Bollinger Bands built on RSI into one panel, helping traders evaluate momentum, volatility, and market rhythm in a clearer way.
The core idea is simple:
RSI shows momentum strength and overbought/oversold conditions
RSI MA helps smooth short-term noise and makes shifts in momentum easier to read
Bollinger Bands on RSI show whether RSI is expanding, compressing, or pushing toward relative extremes within its own recent range
What this indicator includes
RSI line
RSI moving average
Bollinger Band basis line
Upper and lower Bollinger Bands
Custom overbought and oversold reference lines
How it can be used
This tool can help traders:
identify when RSI is stretching toward the upper or lower side of its recent range
observe whether momentum is accelerating or fading
track short-term pullbacks and recoveries with the RSI moving average
spot periods of compression and expansion in RSI behavior through the Bollinger Bands
Basic interpretation
When RSI pushes near or above the upper band, momentum is strengthening and price may be entering an extended phase
When RSI moves near or below the lower band, momentum is weakening and the market may be approaching an exhaustion area
The RSI MA can be used as a smoother guide for short-term momentum direction
Wider bands suggest stronger RSI volatility, while tighter bands suggest compression and possible expansion ahead
Inputs
The script allows full customization of:
RSI source
RSI length
overbought / oversold thresholds
RSI MA length
Bollinger Band length
Bollinger Band multiplier
This makes the indicator flexible for different markets, timeframes, and personal trading styles.
Notes
This indicator is designed as a visual analysis tool and should be used together with price structure, trend context, and risk management.
This indicator combines RSI, a moving average of RSI, and Bollinger Bands built on RSI into one panel, helping traders evaluate momentum, volatility, and market rhythm in a clearer way.
The core idea is simple:
RSI shows momentum strength and overbought/oversold conditions
RSI MA helps smooth short-term noise and makes shifts in momentum easier to read
Bollinger Bands on RSI show whether RSI is expanding, compressing, or pushing toward relative extremes within its own recent range
What this indicator includes
RSI line
RSI moving average
Bollinger Band basis line
Upper and lower Bollinger Bands
Custom overbought and oversold reference lines
How it can be used
This tool can help traders:
identify when RSI is stretching toward the upper or lower side of its recent range
observe whether momentum is accelerating or fading
track short-term pullbacks and recoveries with the RSI moving average
spot periods of compression and expansion in RSI behavior through the Bollinger Bands
Basic interpretation
When RSI pushes near or above the upper band, momentum is strengthening and price may be entering an extended phase
When RSI moves near or below the lower band, momentum is weakening and the market may be approaching an exhaustion area
The RSI MA can be used as a smoother guide for short-term momentum direction
Wider bands suggest stronger RSI volatility, while tighter bands suggest compression and possible expansion ahead
Inputs
The script allows full customization of:
RSI source
RSI length
overbought / oversold thresholds
RSI MA length
Bollinger Band length
Bollinger Band multiplier
This makes the indicator flexible for different markets, timeframes, and personal trading styles.
Notes
This indicator is designed as a visual analysis tool and should be used together with price structure, trend context, and risk management.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.