LazyBear

RSI Bands, RSI %B and RSI Bandwidth

RSI bands provide an intuitive way of visualizing how the price movement causes RSI to move with in its range (0-100). Upper/Lower bands signify overbought and oversold levels respectively (Default: 70/30, you can customize them via options page). These bands closely match what Constance Brown explains in her book "Technical Analysis for the Trading Professional".

I have also coded up 2 scripts to visualize %B and Bandwidth, just as in BollingerBands. As you can see %B is equivalent to the actual RSI . Along with RSI_Bandwidth and %B, the bands convey a lot of information.

Another tip is to render Bollinger Bands along with RSIBands...endless possibilities :)

I have included all 3 scripts in the same chart, as they are all related. Since TradingView doesn't allow sharing more than one script in the same chart, you can only "Add script" RSI Bands.

If you want to use RSI %B and Bandwidth, follow this guide to "Make mine" this chart and get access to the source:
https://drive.google.com/file/d/0Bx48Du_...

For the complete list of my indicators, check this post:
הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים
//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("RSI Bands [LazyBear]", shorttitle="RSIBANDS_LB", overlay=true)
obLevel = input(70, title="RSI Overbought")
osLevel = input(30, title="RSI Oversold")
length = input(14, title="RSI Length")
src=close
ep = 2 * length - 1
auc = ema( max( src - src[1], 0 ), ep )
adc = ema( max( src[1] - src, 0 ), ep )
x1 = (length - 1) * ( adc * obLevel / (100-obLevel) - auc)
ub = iff( x1 >= 0, src + x1, src + x1 * (100-obLevel)/obLevel )
x2 = (length - 1) * ( adc * osLevel / (100-osLevel) - auc)
lb = iff( x2 >= 0, src + x2, src + x2 * (100-osLevel)/osLevel )

plot( ub, title="Resistance", color=red, linewidth=2)
plot( lb, title="Support", color=green, linewidth=2)
plot( avg(ub, lb), title="RSI Midline", color=gray, linewidth=1)

List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

תגובות

I want to use RSI %B and Bandwidth, i tried to look for "Make mine" button, i dont see that button any more. can you or any one, point me to where to find the RSI %B and Bandwidth ?
i can see the RSI bands in the indicator list but no the RSI %B and Bandwidth.
+9 השב
how can i get RSI %B and Bandwidth?
+2 השב
I like this overlay + indicator. These two combos have great results.
+2 השב
For those looking for the RB%B_LB I have posted the script at

since the make it mine feature is no longer available. Thanks for all these great indis lazy bear!
@migm
@nDman_sk
@TRADE2020
+1 השב
nDman_sk SnekTrade
@SnekTrade, Thank you so much.
השב
Thanks for this great indicator.
Can you share RSI %B and Bandwidth scripts?
+1 השב
Thank you LazyBear for sharing the script. If you don't mind can you please tell which language is this? My self is also a programmer and I would like to learn the same. Thanks in advance.
+1 השב
This is a fantastic indicator, thank you so much for sharing this with us. I have been looking for something like this for weeks. Once again, thanks so much!!
+1 השב
AMAZING INDICATOR.. my search for indicator has come to an end with this indicator. Thanks.. I have practically tried all possible indicators here.. this is the best and the last one.. thanks
+1 השב
LazyBear MONEYMENOW
YW :)
+1 השב
בית סורק מניות סורק מט"ח סורק מטבעות-קריפטו יומן כלכלי איך זה עובד‏ תכונות גרף מחירון הפנה חבר חוקי הבית מרכז תמיכה כלים לאתרים וברוקרים יישומונים פתרונות גרפיים ספריית גרפים קלי משקל בלוג וחדשות טוויטר‏
פרופיל הגדרות פרופיל חשבון וחיוב הפנה חבר לשוניות התמיכה שלי מרכז תמיכה רעיונות שפורסמו עוקבים עוקב הודעות פרטיות צ'אט התנתק