RSI + BB TP1-TP5 + SL + Custom Zones
RSI + BB Reversal Signals with TP1–TP5, Stop Loss & Custom Time Zones
This indicator combines RSI and Bollinger Bands to find mean-reversion entries. It adds a five-level take-profit ladder, a stop loss, session-based signal filtering and a live dashboard.
HOW IT WORKS
1. Setup
- When RSI crosses below the Buy Level (default 25), the script starts waiting for a BUY.
- When RSI crosses above the Sell Level (default 75), the script starts waiting for a SELL.
2. Entry confirmation
- A BUY fires on the first confirmed bullish candle (close > open) after the oversold setup.
- A SELL fires on the first confirmed bearish candle (close < open) after the overbought setup.
- Signals only fire on closed bars, so they don't repaint.
3. Targets and stop loss
- TP1 is the distance from the entry price to the upper Bollinger Band for buys, or the lower band for sells.
- TP2 to TP5 are multiples of that TP1 distance (defaults 1.25x, 1.5x, 1.75x and 2.0x, all adjustable).
- The stop loss is placed using the signal candle's range, scaled by the Stop Loss Multiplier (default 2.0).
- A trade closes when TP5 or the stop loss is hit. TP1 to TP4 are marked on the chart as they're reached.
4. Custom time zones (optional)
- Define up to 5 trading windows and choose the timezone they use (Adelaide, New York or UTC).
- When the zone filter is on, signals only fire inside an enabled window. Each window can be shaded on the chart in its own colour.
5. Dashboard
- Current State: BUY, SELL, NO TRADE, STOPPED OUT or TP5 HIT.
- Setup: TRADE RUNNING, WAITING BUY, WAITING SELL or NONE. It also tells you when a setup is pending but the current time is outside your zones.
- A level table shows the SL and TP1–TP5 prices and whether each has been hit.
SETTINGS
- RSI length and buy/sell levels
- Bollinger Band length and multiplier
- Stop loss multiplier and TP2–TP5 multipliers
- Zone filter on/off, timezone, and per-zone session, colour and transparency
ALERTS
Alerts are available for BUY entry, SELL entry, Stop Loss, and TP1 through TP5.
NOTES
- The indicator tracks one trade at a time. A new signal replaces the previous trade's levels.
- TP/SL hits are detected on bar high/low, so the order of events within a single candle isn't known.
- Best used as a decision aid alongside your own analysis, risk management and higher-timeframe context. Test settings on your market and timeframe before using them.
DISCLAIMER
This script is for educational and informational purposes only and is not financial advice. Trading involves risk, and past performance does not guarantee future results.
This indicator combines RSI and Bollinger Bands to find mean-reversion entries. It adds a five-level take-profit ladder, a stop loss, session-based signal filtering and a live dashboard.
HOW IT WORKS
1. Setup
- When RSI crosses below the Buy Level (default 25), the script starts waiting for a BUY.
- When RSI crosses above the Sell Level (default 75), the script starts waiting for a SELL.
2. Entry confirmation
- A BUY fires on the first confirmed bullish candle (close > open) after the oversold setup.
- A SELL fires on the first confirmed bearish candle (close < open) after the overbought setup.
- Signals only fire on closed bars, so they don't repaint.
3. Targets and stop loss
- TP1 is the distance from the entry price to the upper Bollinger Band for buys, or the lower band for sells.
- TP2 to TP5 are multiples of that TP1 distance (defaults 1.25x, 1.5x, 1.75x and 2.0x, all adjustable).
- The stop loss is placed using the signal candle's range, scaled by the Stop Loss Multiplier (default 2.0).
- A trade closes when TP5 or the stop loss is hit. TP1 to TP4 are marked on the chart as they're reached.
4. Custom time zones (optional)
- Define up to 5 trading windows and choose the timezone they use (Adelaide, New York or UTC).
- When the zone filter is on, signals only fire inside an enabled window. Each window can be shaded on the chart in its own colour.
5. Dashboard
- Current State: BUY, SELL, NO TRADE, STOPPED OUT or TP5 HIT.
- Setup: TRADE RUNNING, WAITING BUY, WAITING SELL or NONE. It also tells you when a setup is pending but the current time is outside your zones.
- A level table shows the SL and TP1–TP5 prices and whether each has been hit.
SETTINGS
- RSI length and buy/sell levels
- Bollinger Band length and multiplier
- Stop loss multiplier and TP2–TP5 multipliers
- Zone filter on/off, timezone, and per-zone session, colour and transparency
ALERTS
Alerts are available for BUY entry, SELL entry, Stop Loss, and TP1 through TP5.
NOTES
- The indicator tracks one trade at a time. A new signal replaces the previous trade's levels.
- TP/SL hits are detected on bar high/low, so the order of events within a single candle isn't known.
- Best used as a decision aid alongside your own analysis, risk management and higher-timeframe context. Test settings on your market and timeframe before using them.
DISCLAIMER
This script is for educational and informational purposes only and is not financial advice. Trading involves risk, and past performance does not guarantee future results.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.