Get started
OPEN-SOURCE SCRIPT
Updated

Bollinger Bands Stochastic RSI Extreme Signal

This is the finalized code released to the public that I created in a video linked here.

This indicators combines a Bollinger Band and Stochastic RSI to produce signals for possible price reversal. The signals are displayed by default as green arrows for bullish and red arrows for bearish.

To trigger a signal the indicator checks for the following:

(Bullish)
  • A candle closes above the upper Bollinger Band
  • The following candle closes within the upper Bollinger Band
  • The RSI Stochastic is below the set threshold (10 by default)


(Bearish)
  • A candle closes below the lower Bollinger Band
  • The following candle closes within the lower Bollinger Band
  • The RSI Stochastic is above the set threshold (90 by default)


Release Notes
Added alert functionality
norok
Wizard
"Be to others the person you needed to meet 10 years ago"

Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Also on:
Bollinger Bands (BB)educationalStochastic RSI (STOCH RSI)

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

norok
Wizard
"Be to others the person you needed to meet 10 years ago"

Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.