Bollinger Bands %RSI
Hi All,
I am not a programmer, but I tried to buid BB% of RSI , base of John Bollinger' book. I cut and paste the function from LazyBear MFI/RSI BB indicator and original BB% scripts. Now, I need help for 2 things :
1. I already check by side with LazyBear indicator for the OB/OS, and all are good. One thing I don't understand is why we build the Basis for bb using "sma" ? any one can help me to understand with this?
2. I am happy with this, but I need to make the Source Price become customisable (close, hl/2, hlc/3, etc). and I don't know how to set it up. please help me with this.
Thank you.
I am not a programmer, but I tried to buid BB% of RSI , base of John Bollinger' book. I cut and paste the function from LazyBear MFI/RSI BB indicator and original BB% scripts. Now, I need help for 2 things :
1. I already check by side with LazyBear indicator for the OB/OS, and all are good. One thing I don't understand is why we build the Basis for bb using "sma" ? any one can help me to understand with this?
2. I am happy with this, but I need to make the Source Price become customisable (close, hl/2, hlc/3, etc). and I don't know how to set it up. please help me with this.
Thank you.
study(title = "Bollinger Bands %RSI", shorttitle = "BB %RSI") source = hlc3 length = input(14, minval=1), mult = input(2.0, minval=0.001, maxval=50) HighlightBreaches=input(true, title="Highlight Oversold/Overbought?", type=bool) //Define RSI rsi_s = rsi(source, length) // BB of RSI basis = sma(rsi_s, length) dev = mult * stdev(rsi_s, length) upper = basis + dev lower = basis - dev bbr = (rsi_s - lower)/(upper - lower) plot(bbr, color=teal) band1 = hline(1, color=gray, linestyle=dashed) band0 = hline(0, color=gray, linestyle=dashed) fill(band1, band0, color=teal) //p1 = plot(upper, color=blue) //p2 = plot(lower, color=blue) //fill(p1,p2, blue) b_color = (rsi_s > upper) ? red : (rsi_s < lower) ? green : na bgcolor(HighlightBreaches ? b_color : na)