RSI BB StdDev Signal

19 déc. 2024

Overview
The RSI BB StdDev Signal Indicator is a powerful tool designed to enhance your trading strategy by combining the Relative Strength Index (RSI) with Bollinger Bands (BB). This unique combination allows traders to identify potential buy and sell signals more accurately by leveraging the strengths of both indicators. The RSI helps in identifying overbought and oversold conditions, while the Bollinger Bands provide a dynamic range to assess volatility and potential price reversals.

Key Features
— RSI Calculation: The indicator calculates the RSI based on user-defined parameters, allowing for customization to fit different trading styles.
— Bollinger Bands Integration: The RSI values are smoothed using a moving average, and Bollinger Bands are applied to this smoothed RSI to generate buy and sell signals.
— Divergence Detection: The indicator includes an optional feature to detect and alert on bullish and bearish divergences between the RSI and price action.
— Customizable Alerts: Users can set up alerts for buy and sell signals, as well as for divergences, ensuring they never miss a trading opportunity.
— Visual Aids: The indicator plots the RSI, Bollinger Bands, and signals on the chart, making it easy to visualize and interpret the data.

How It Works
1. RSI Calculation:
— The RSI is calculated using the change in the source input (default is close price) over a specified period.
— The RSI values are then plotted on the chart with customizable overbought and oversold levels.

2. Smoothing and Bollinger Bands:
— The RSI values are smoothed using a moving average (SMA, EMA, SMMA, WMA, VWMA) selected by the user.
— Bollinger Bands are applied to the smoothed RSI to create dynamic upper and lower bands.

3. Signal Generation:
—Buy signals are generated when the RSI crosses above the lower Bollinger Band.
—Sell signals are generated when the RSI crosses below the upper Bollinger Band.
—These signals are plotted on both the RSI pane and the main price chart for easy reference.

4. Divergence Detection:
— The indicator can detect and alert on regular bullish and bearish divergences between the RSI and price action.
— Bullish divergences occur when the price makes a lower low, but the RSI makes a higher low.
— Bearish divergences occur when the price makes a higher high, but the RSI makes a lower high.

Usage
1. Setting Up:
— Add the indicator to your TradingView chart.
— Customize the RSI length, source, and other parameters in the settings panel.
— Enable or disable the divergence detection based on your trading strategy.

2. Interpreting Signals:
— Use the buy and sell signals generated by the RSI crossing the Bollinger Bands as potential entry and exit points.
— Pay attention to divergences for additional confirmation of trend reversals.

3. Alerts:
— Set up alerts for buy and sell signals to receive notifications in real-time.
— Enable divergence alerts to be notified of potential trend reversals.

Conclusion
The RSI BB StdDev Signal Indicator is a comprehensive tool that combines the strengths of the RSI and Bollinger Bands to provide traders with more accurate and reliable signals. Whether you are a beginner or an experienced trader, this indicator can enhance your trading strategy by offering clear visual cues and customizable alerts.

Note
This indicator is provided with open-source code, allowing users to understand its logic and customize it further if needed. The detailed description and customizable settings ensure that traders of all levels can benefit from its unique features.

20 déc. 2024

Notes de version

Additional Features
— Minimum Bars Between Signals: A new setting allows you to specify the minimum number of bars between buySignal and sellSignal. This helps avoid frequent false signals and improves the quality of trading decisions. Signals will only be generated if the number of bars between the previous signal and the current signal is greater than or equal to the specified value. This adds an extra layer of filtering and enhances signal accuracy.
—🔌Connector🔌: The indicator signals are connected to other scripts in the format +1 for buy and -1 for sale (it was not in the original description)

23 déc. 2024

Notes de version

Additional Features
— "Wait for Opposite Signal" mode: A new setting allows you to enable a mode where buy and sell signals alternate. This helps avoid false signals and improves the quality of trading decisions. Signals will only be generated if the previous signal was of the opposite type, regardless of the number of bars between them. This adds an additional layer of filtering and increases signal accuracy.

— All signal-related settings are now grouped under "Signal Settings": To enhance user experience, all settings that influence signal generation, including "BB StdDev", "Minimum Bars Between Signals", and "Wait for Opposite Signal", are now consolidated under a single section called "Signal Settings". This makes it easier to configure and manage your trading signals.

► Description
The RSI BB StdDev Signal Indicator combines RSI with Bollinger Bands to help traders identify accurate buy and sell signals. The RSI indicates overbought and oversold conditions, while Bollinger Bands show volatility and potential price reversals. Buy signals occur when the RSI crosses above the lower Bollinger Band, indicating a potential reversal from an oversold condition. Sell signals occur when the RSI crosses below the upper Bollinger Band, suggesting a reversal from an overbought condition. These signals are clearly plotted on the chart for easy reference.

To improve signal accuracy, the indicator includes several filters and settings. The "BB StdDev" setting adjusts the width of the Bollinger Bands, controlling signal sensitivity. The "Minimum Bars Between Signals" setting ensures signals are not generated too frequently, reducing false signals. The "Wait for Opposite Signal" mode ensures that signals alternate, further enhancing accuracy.

To use the indicator, simply add it to your TradingView chart and customize the settings. Enable or disable the "Wait for Opposite Signal" mode based on your trading strategy. Use the buy and sell signals as potential entry and exit points. Set up alerts to receive real-time notifications. This indicator is user-friendly and customizable, making it a valuable tool for traders of all levels.

28 déc. 2024

Notes de version

🔍 How signals work
— A buy signal is generated when the RSI line crosses the lower Bollinger Bands band from bottom to top. This indicates that the market may be oversold and ready for a rebound. They are displayed as green triangles located under the RSI graph. On the main chart, buy signals are displayed as green triangles labeled "Buy" under candlesticks. In addition, alerts are available for signals that allow you to receive🔔 Alerts. A 🔌Connector🔌 is also provided, which allows you to integrate signals into automatic trading strategies and test them on historical data.

— A sell signal is generated when the RSI line crosses the upper Bollinger Bands band from top to bottom. This indicates that the market may be overbought and ready for a correction. They are displayed as red triangles located above the RSI chart. On the main chart, the sell signals are displayed as red triangles with the word "Sell" above the candlesticks. In addition, alerts are available for signals that allow you to receive🔔 Alerts. A 🔌Connector🔌 is also provided, which allows you to integrate signals into automatic trading strategies and test them on historical data.


🔧 Filters for signals
— Minimum Bars Between Signals
The user can adjust the minimum number of bars between the signals to avoid false signals. This helps to filter out noise and improve signal quality.


— Mode "Wait for Opposite Signal"
In this mode, buy and sell signals are generated only after receiving the opposite signal. This adds an additional level of filtering and helps to avoid false alarms.


— Mode "Overbought and Oversold Zones"
A buy signal is generated only when RSI is below the 30 level (Lower Band). A sell signal is generated only when RSI is above 70 (Upper Band).


📊 Divergences
— Bullish divergence occurs when RSI shows a higher low while price shows a lower low. This indicates a possible upward reversal. They are displayed as green lines and labels labeled "Bull" on the RSI chart. On the main chart, bullish divergences are displayed as green triangles labeled "Bull" under candlesticks.
— A bearish divergence occurs when RSI shows a lower high, while the price shows a higher high. This indicates a possible downward reversal. They are displayed as red lines and labels labeled "Bear" on the RSI chart. On the main chart, bearish divergences are displayed as red triangles with the word "Bear" above the candlesticks.


➕ Signal and Divergence Mode
— Mode "Signal and Divergence"
In this mode, signals are generated only when both the signal and divergence conditions are met. This mode uses the logical "AND" operator to ensure that both conditions must be true for a signal to be generated. For example, a buy signal will be generated only if RSI crosses above the lower Bollinger Band and there is a bullish divergence. This mode helps to filter out false signals and provides more reliable trading opportunities. In addition, 🔔 Alerts are available for this mode, which allow you to receive notifications about generated alarms. A 🔌Connector🔌 is also provided, which allows you to integrate signals into automatic trading strategies and test them on historical data.
This mode only works when the Calculate Divergence signals mode is enabled.


— Mode "Signal or Divergence"
In this mode, signals are generated when either the signal or divergence condition is met. This mode uses the logical "OR" operator, meaning that a signal will be generated if either condition is true. For example, a buy signal will be generated if RSI crosses above the lower Bollinger Band or if there is a bullish divergence. This mode increases the frequency of signals, providing more trading opportunities based on either condition.In addition, 🔔 Alerts are available for this mode, which allow you to receive notifications about generated alarms. A 🔌Connector🔌 is also provided, which allows you to integrate signals into automatic trading strategies and test them on historical data.
This mode only works when the Calculate Divergence signals mode is enabled.

30 déc. 2024

Notes de version

🔍 Additional Signals from Moving Averages
— Buy and sell signals can now also be generated based on the RSI crossing other moving averages (MAs) such as SMA, EMA, SMMA (RMA), WMA, and VWMA. For example, a buy signal is generated when the RSI line crosses above the selected MA, indicating a potential upward trend. Conversely, a sell signal is generated when the RSI line crosses below the selected MA, indicating a potential downward trend. These signals are displayed similarly to the Bollinger Bands signals and are also subject to the same filters.


🔧 Enhanced Overbought and Oversold Zones
— In the "Overbought and Oversold Zones" mode, users can now manually set the levels for overbought and oversold zones. By default, the overbought level is set to 70 and the oversold level is set to 30. However, users can customize these levels to better fit their trading strategy. A buy signal is generated only when RSI is below the user-defined oversold level, and a sell signal is generated only when RSI is above the user-defined overbought level.

8 janv.

Notes de version

🔧 Simplified signal settings
The signal settings have been simplified and grouped. Instead of choosing the type of moving average for all signals, you can now set up a separate moving average for the signals and for the Bollinger lines.

𖦏 Signal labels
Now the signal labels on the indicator itself show the short name of the signal to which it belongs, "MA", "BB" and "Div"

🔔 Additional alerts
Added new alerts for signal combinations

🔌 Additional Connectors
New Connectors have been added to connect the indicator to other indicators and strategies.

🛠 Divergence signal filters
Divergence signals can now be filtered just like other signals using filters.: Minimum Bars Between Signals, Mode "Overbought and Oversold Zones", Mode "Wait for Opposite Signal"

il y a 6 jours

Notes de version

New Features in RSI Signal [trade_lexx] Indicator


Compact Menu
We have implemented a compact menu that allows users to easily customize the indicator's parameters. Now, all settings are grouped by categories, making navigation more intuitive and convenient. You can quickly find and adjust the necessary parameters without getting lost in numerous options.

New Moving Average Types for MA Type and BB Type
We have added new moving average (MA) types for both the main moving average (MA Type) and Bollinger Bands (BB Type) settings. Now you can choose from the following MA types:
- SMA (Simple Moving Average)
- EMA (Exponential Moving Average)
- WMA (Weighted Moving Average)
- HMA (Hull Moving Average)
- KAMA (Kaufman Adaptive Moving Average)
- VWMA (Volume Weighted Moving Average)
- ALMA (Arnaud Legoux Moving Average)
- TEMA (Triple Exponential Moving Average)
- ZLEMA (Zero Lag Exponential Moving Average)
- LSMA (Least Squares Moving Average)
These new MA types provide more flexibility in analysis and allow you to adapt the indicator to various market conditions.

Enhanced Overbought and Oversold Zones
We have enhanced the customization options for overbought and oversold zones. Now you can set both lower and upper levels for these zones, allowing for more precise tuning of buy and sell signals. For example, you can set:
- Lower level of overbought zone (ABOVE)
- Upper level of overbought zone (BELOW)
- Lower level of oversold zone (ABOVE)
- Upper level of oversold zone (BELOW)

These settings will help you more accurately determine entry and exit points, minimizing risks and increasing potential profits.

il y a 5 jours

Notes de version

// Minor Update
The names of alerts have been fixed, and the divergence signal mode has been moved to the BB signal section