Just another RSI with 2 bollinger bands. Coded following a request in the indicator forum section.
Initial data:
1) RSI
2) Bollinger Bands (Basis – EMA )
3) Dispersion (around basis)
Signal for purchase: RSI crosses the dispersion zone upwards
Signal for sale: RSI crosses the dispersion zone downwards
Buffer zone: white area, it is not recommended to make transactions.
— Add (02.10.2018)
1) RSI lines (overbought / oversold) = 70 / 30. Сan be changed in the settings.
2) Alerts:
• RSI line crossover Dispersion Zone (green)
• RSI line crossunder Dispersion Zone (red)
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//PRC_RSI+BB (EMA)+Dispersion | indicator //05.09.2022 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //converted from pinescript // --- settings forrsi = 14 //RSI_period forma = 20 //Basis_BB formult = 2 // Stdev forsigma = 0.1 //Dispersion // --- end of settings src = customclose currentrsi = rsi[forrsi](src) basis = average[forma](currentrsi) dev = formult * std[forma](currentrsi) upper = basis + dev lower = basis - dev dispup = basis + ((upper - lower) * forsigma) dispdown = basis - ((upper - lower) * forsigma) if currentrsi>=dispup then r=0 g=255 elsif currentrsi<=dispdown then r=255 g=0 else r=255 g=234 endif colorbetween(70,30,"white",95) colorbetween(dispup,dispdown,"white",80) return 70 coloured(212,212,212,95) style(dottedline),30 coloured(212,212,212,95) style(dottedline), currentrsi coloured(r,g,0) style(line,2), basis, upper style(line,2) coloured(0,255,240), lower style(line,2) coloured(0,255,240), dispup coloured("white"), dispdown coloured("white") |
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Thank you Nicolas! Looks like TDI (Trader Dynamic Index). Interesting to give Exit Signal as well. Is “colorbetween” a new instruction on PRT?
ColorBetween is an instruction added last year: https://www.prorealcode.com/documentation/colorbetween/