RSI indicator with Bollinger bands applied to it.
- RSI parameters included to change.
- bollinger bands parameters included to change.
RSI Bands Formula
it's default RSI indicator but with bollinger bands indicator applied to RSI value instead of apply it to price.
How to Trade RSI Bands
you can use this indicator as Osciallator indicator to determine overbought and oversold areas, for example if RSI line goes below lower band it's a sign for oversold and if RSI line goes above upper band it's a sign for overbought.
RSI Bands indicator has some parameters so you can adjust it according to your needs, I'll explain it in details.
RSI Period, Apply to
RSI indicator parameters.
Bands Period, Bands Deviation, Bands Shift
Bollinger bands indicator parameters.
Version 1.0 17.11.2019
- First initial version