This indicator calculates standardized z-scores of price data across four different lookback periods (6, 14, 26, and 100). Standardizing data subtracts the moving average from the price and divides by the standard deviation. It applies a Double Exponential Mov
Indicator · Pine Script v5 · Own pane
RSI with Boll %B
An oscillator shown in a separate pane.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code61
Settings8inputs
LicenceNone stated
Last update1 year ago17 Jan 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
RSI with Boll %B builds an RSI centred on zero with a short default length, smooths it with an EMA, and measures how far the RSI sits from that average in standard-deviation units, similar to Bollinger %B. Dashed lines mark plus and minus 0.8, with gradient fills beyond them. Optional breakout conditions trigger oversold and overbought alerts when the normalised value and raw RSI both reach set thresholds.
- Zero-centred RSI
- Bollinger-style normalisation of RSI
- Overbought and oversold alert conditions
- Gradient fills beyond threshold lines
Details
Published by
zhuzp98 on GitHub
Code credit
rhapsodyz, as written in the script's header
Type
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Length | int | 6 | rsiLength |
| RSI Source | source | hlc3 | rsiSource |
| MA Length | int | 14 | rsiMALength |
| Boll StdDev | float | 2.0 | rsiBollMult |
| Show Breakout | bool | true | showBreakout |
| Breakout Value Low | float | 0.9 | rsiDivBreakLow |
| Breakout Value High | float | 1.4 | rsiDivBreakHigh |
| RSI Raw Breakout Value | int | 25 | rsiRawBreak |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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