Frankator BBRSI

🧭Strategy Description of Frankator BBRSI: Bollinger Bands + RSI Signal (only on 5 min chart)

Overview

This indicator combines Bollinger Bands and the Relative Strength Index (RSI) to identify potential overbought and oversold market conditions.
It generates buy and sell signals when the price reaches extreme levels confirmed by RSI momentum — helping traders anticipate potential reversals or continuation setups.

📊 How It Works

Bollinger Bands

The script plots three lines:
Upper Band: SMA + (Standard Deviation × Multiplier)
Basis (Middle Band): Simple Moving Average (SMA)
Lower Band: SMA - (Standard Deviation × Multiplier)
When the price touches or breaks the upper band, it may indicate an overbought market.
When the price touches or drops below the lower band, it may indicate an oversold market.

RSI Confirmation

RSI measures momentum to confirm whether the market is truly overbought or oversold.
Default RSI levels:
Overbought: RSI > 70
Oversold: RSI < 30

Signal Conditions

Buy Signal:

Price closes at or below the lower Bollinger Band
RSI < 30 (oversold)
A green triangle appears below the candle

Sell Signal:

Price closes at or above the upper Bollinger Band
RSI > 70 (overbought)
A red triangle appears above the candle

Alerts

You can set TradingView alerts for automatic notifications when either a Buy or Sell condition is met.

Go to “Add Alert” → “Condition” → Choose this indicator → Select Buy/Sell Signal, or Any alert for both alerts.

⚠️ Disclaimer

This indicator is a technical analysis tool, not a guarantee of future performance. Always use proper risk management and confirm signals with other indicators or price patterns before entering trades.