OPEN-SOURCE SCRIPT
Ultimate BB Reversal Indicator
Ultimate BB Reversal Indicator
A Bollinger Band reversal signal tool that combines price action, RSI, and volume to identify high-probability turning points at the band extremes.
How it works:
Price must close back inside the band after being outside it, RSI must have reached an extreme (oversold below 30 or overbought above 70) within the lookback window, and volume must be at or above average — all three must align for a signal to fire.
Signals:
🟢 Green ✕ below the candle — bullish reversal at the lower band
🔴 Red ✕ above the candle — bearish reversal at the upper band
Candle coloring:
🔵 Dark blue — candle touched or pierced the upper band
🩷 Dark pink — candle touched or pierced the lower band
Inputs:
BB Length & StdDev Multiplier — controls band width
RSI Length, Overbought & Oversold levels — tune RSI sensitivity
Confirmation Bars — how many closes inside the band are required before signaling
Volume MA Length & Multiplier — sets the volume threshold
Require RSI Momentum Turn — optional stricter filter; when on, RSI must be turning back toward neutral
Notes:
A Bollinger Band reversal signal tool that combines price action, RSI, and volume to identify high-probability turning points at the band extremes.
How it works:
Price must close back inside the band after being outside it, RSI must have reached an extreme (oversold below 30 or overbought above 70) within the lookback window, and volume must be at or above average — all three must align for a signal to fire.
Signals:
🟢 Green ✕ below the candle — bullish reversal at the lower band
🔴 Red ✕ above the candle — bearish reversal at the upper band
Candle coloring:
🔵 Dark blue — candle touched or pierced the upper band
🩷 Dark pink — candle touched or pierced the lower band
Inputs:
BB Length & StdDev Multiplier — controls band width
RSI Length, Overbought & Oversold levels — tune RSI sensitivity
Confirmation Bars — how many closes inside the band are required before signaling
Volume MA Length & Multiplier — sets the volume threshold
Require RSI Momentum Turn — optional stricter filter; when on, RSI must be turning back toward neutral
Notes:
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.