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RSI T-Bands

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Overview
RSI T-Bands is a trend-following indicator that wraps RSI with upper and lower bands built from standard deviation. Instead of treating RSI as a simple overbought/oversold oscillator, it uses the position of these bands relative to the 50 midline to define a bullish or bearish trend state. Bands expand and contract with RSI volatility, making the indicator adaptive to changing momentum conditions.

• Bullish state: begins when the lower RSI band moves above 50.
• Bearish state: begins when the upper RSI band moves below 50

How to use
Candle coloring reflects the current trend state (green = bullish, red = bearish).

The upper and lower RSI bands act as dynamic thresholds around RSI.

The dashed 50 midline is the trend decision boundary.

Alerts
The script includes two alert conditions:

RSI T-Bands Bullish: triggers when the trend state flips from bearish to bullish.

RSI T-Bands Bearish: triggers when the trend state flips from bullish to bearish.
Sürüm Notları
Added separate upper and lower standard deviation multipliers.
Sürüm Notları
Changed bar coloring.

Feragatname

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