Rsi, Rsi divergences and Bollinger Bands

• 09/30/2021 at 10:47 AM #178778
  robertogozzi

  In reply to this question https://www.prorealcode.com/topic/risk-and-money-management-errors/page/2/#post-178768, this is my reply.
  Make the last line read:

  Return rsi_14 AS "Rsi",70 AS "OverBought",30 AS "OverSold"

  1	Return rsi_14 AS "Rsi",70 AS "OverBought",30 AS "OverSold"

  

  robertogozzi

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  10/02/2021 at 6:23 AM #178928
  jkadda

  @robertogozzi

  Many thanks for the solution.

  Now lets say a typical instrument presenting both ranging and trending market conditions over some periods. I want to add RSI crossover indicator signals and RSI divergence indicator signals to Bollinger bands such that whatever market conditions currently being presented the appropriate or corresponding signal will trigger.

  May i know how feasible this strategy can be?

  Regards.

   

  

  jkadda

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  10/02/2021 at 6:43 AM #178934
  robertogozzi

  Start new topics for different questions.

  Thanks 🙂

  I did it.

  I’ll make it asap.

   

  

  robertogozzi

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  10/02/2021 at 9:21 AM #178936
  jkadda

  @ Robertogozzi

  Please i don’t understand your previous message, does it mean you have already created a different  topic for this? If so where is it, how can i access it?

  May i know whether you also mean you will be able to help me in writing this strategy?

  

  jkadda

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  10/03/2021 at 5:38 PM #178976
  jkadda

  Hello can you reply so i can proceed for there please.

  

  jkadda

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  10/03/2021 at 6:26 PM #178977
  robertogozzi

  I already replied.

   

  

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  10/04/2021 at 2:08 AM #178985
  robertogozzi

  Do not double post. Ask your question only once and only in one forum. All double posts will be deleted anyway so posting the same question multiple times will just be wasting your own time and will not get you an answer any quicker. Double posting just creates confusion in the forums.

  Thank you 🙂

  I ALREADY replied you and did it (it wasn’t the same topic as before, couldn’t you see that?), as I already told you.

  Be patient, I will do it as soon as possible (that’s what asap means).

   

   

  

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  10/05/2021 at 6:09 AM #179043
  robertogozzi

  There you go. This indicator will return:

  •  1 = bullish signal
  • -1 = bearish signal

  You will set settings as best suits you.

  I suggest that you set the properties so that the signal is plotted as a histogram.

  // BB-Rsi-Rsi Divergences // // settings //ONCE RsiP = 14 //14 RSI periods //ONCE RsiOB = 70 //70 - 30 (Overbought & Oversold) //ONCE DivLB = 40 //40 lookback periods for divergences //ONCE BB = 20 //20 Bollinger Bands periods ONCE RsiP = max(1,min(999,RsiP)) ONCE RsiOB = max(0,min(100,RsiOB)) ONCE DivLB = max(1,min(999,DivLB)) ONCE RsiOS = 100 - RsiOB // RSI divergences MyDivergence = DivergenceRSI[RsiP,RsiOS,RsiOB,DivLB](close) L1 = (MyDivergence = 1) //bullish divergence S1 = (MyDivergence = -1) //bearish divergence // RSI crossovers MyRSI = Rsi[14](close) L2 = MyRsi CROSSES OVER RsiOS //bullish crossover S2 = MyRsi CROSSES UNDER RsiOB //bearish crossover // BB (Bollinger Bands crossovers) L3 = close CROSSES OVER BollingerDOWN[BB] S3 = close CROSSES UNDER BollingerUP[BB] // combine Long & Short conditions Lcond = L1 AND L2 AND L3 Scond = S1 AND S2 AND S3 // return the correct triggering signal Signal = 0 IF Lcond THEN Signal = 1 //LONG Signal ELSIF Scond THEN Signal = -1 //SHORT Signal ENDIF RETURN Signal AS "(Signal: 1=↑, -1=↓) ",0 AS "Zero"

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  // BB-Rsi-Rsi Divergences // // settings //ONCE RsiP  = 14                           //14  RSI periods //ONCE RsiOB = 70                           //70 - 30 (Overbought & Oversold) //ONCE DivLB = 40                           //40  lookback periods for divergences //ONCE BB    = 20                           //20  Bollinger Bands periods ONCE RsiP    = max(1,min(999,RsiP)) ONCE RsiOB   = max(0,min(100,RsiOB)) ONCE DivLB   = max(1,min(999,DivLB)) ONCE RsiOS   = 100 - RsiOB // RSI divergences MyDivergence = DivergenceRSI[RsiP,RsiOS,RsiOB,DivLB](close) L1           = (MyDivergence = 1)           //bullish divergence S1           = (MyDivergence = -1)          //bearish divergence // RSI crossovers MyRSI        = Rsi[14](close) L2           = MyRsi CROSSES OVER  RsiOS    //bullish crossover S2           = MyRsi CROSSES UNDER RsiOB    //bearish crossover // BB (Bollinger Bands crossovers) L3           = close CROSSES OVER  BollingerDOWN[BB] S3           = close CROSSES UNDER BollingerUP[BB] // combine Long & Short conditions Lcond       = L1 AND L2 AND L3 Scond       = S1 AND S2 AND S3 // return the correct triggering signal Signal      = 0 IF Lcond THEN    Signal = 1        //LONG  Signal ELSIF Scond THEN    Signal = -1       //SHORT Signal ENDIF RETURN Signal AS "(Signal: 1=↑, -1=↓)    ",0 AS "Zero"

  I also suggest that you import the attached ITF file where variables are already defined and declared. If you prefer to Copy & Paste the above code, uncomment lines 4-7.

  

  robertogozzi

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  10/06/2021 at 6:47 AM #179114
  jkadda

  @robertogozzi

  Am so grateful for the codes.

  After running according to your instruction i got the result in the attached screenshot.

  Please can you help me interpret the result? am not familiar with the histogram presentation.

  Also the signal symbols (arrows ) are not printed on the chart.

  Also how are we able to confirm the RSI Crossover signals are confined to ranging conditions only?

  Regards.

   

  

  jkadda

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  10/06/2021 at 6:49 AM #179115
  jkadda

  Sorry i forgot to attached the screenshot

  

  jkadda

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  10/09/2021 at 11:26 AM #179252
  robertogozzi

  Open the indicator’s setting (xPic) and select HISTOGRAM (you can also change colours). I also sugget that you remove any color zone (yPic).

  The indicator returns 1 for Long signals and -1 for short signals.

  There is no provision for RSI crossovers. If you want to signal them just explain me what you want and, for ranging periods, how you want to detect them.

  As for arrows, this is the version to be added ON your chart (not below like the other one) as from attached zPic:

  // BB-Rsi-Rsi Divergences // // settings //ONCE RsiP = 14 //14 RSI periods //ONCE RsiOB = 70 //70 - 30 (Overbought & Oversold) //ONCE DivLB = 40 //40 lookback periods for divergences //ONCE BB = 20 //20 Bollinger Bands periods ONCE RsiP = max(1,min(999,RsiP)) ONCE RsiOB = max(0,min(100,RsiOB)) ONCE DivLB = max(1,min(999,DivLB)) ONCE RsiOS = 100 - RsiOB Offset = average[50,0](range) * 2 // RSI divergences MyDivergence = DivergenceRSI[RsiP,RsiOS,RsiOB,DivLB](close) L1 = (MyDivergence = 1) //bullish divergence S1 = (MyDivergence = -1) //bearish divergence // RSI crossovers MyRSI = Rsi[14](close) L2 = MyRsi CROSSES OVER RsiOS //bullish crossover S2 = MyRsi CROSSES UNDER RsiOB //bearish crossover // BB (Bollinger Bands crossovers) L3 = close CROSSES OVER BollingerDOWN[BB] S3 = close CROSSES UNDER BollingerUP[BB] // combine Long & Short conditions Lcond = L1 AND L2 AND L3 Scond = S1 AND S2 AND S3 // return the correct triggering signal //Signal = 0 IF Lcond THEN //Signal = 1 //LONG Signal DrawArrowUP(BarIndex,low -Offset) coloured(0,128,0,150) ELSIF Scond THEN //Signal = -1 //SHORT Signal DrawArrowDOWN(BarIndex,high + Offset) coloured(255,0,0,255) ENDIF RETURN //Signal AS "(Signal: 1=↑, -1=↓) ",0 AS "Zero"

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  // BB-Rsi-Rsi Divergences // // settings //ONCE RsiP  = 14                           //14  RSI periods //ONCE RsiOB = 70                           //70 - 30 (Overbought & Oversold) //ONCE DivLB = 40                           //40  lookback periods for divergences //ONCE BB    = 20                           //20  Bollinger Bands periods ONCE RsiP    = max(1,min(999,RsiP)) ONCE RsiOB   = max(0,min(100,RsiOB)) ONCE DivLB   = max(1,min(999,DivLB)) ONCE RsiOS   = 100 - RsiOB Offset       = average[50,0](range) * 2 // RSI divergences MyDivergence = DivergenceRSI[RsiP,RsiOS,RsiOB,DivLB](close) L1           = (MyDivergence = 1)           //bullish divergence S1           = (MyDivergence = -1)          //bearish divergence // RSI crossovers MyRSI        = Rsi[14](close) L2           = MyRsi CROSSES OVER  RsiOS    //bullish crossover S2           = MyRsi CROSSES UNDER RsiOB    //bearish crossover // BB (Bollinger Bands crossovers) L3           = close CROSSES OVER  BollingerDOWN[BB] S3           = close CROSSES UNDER BollingerUP[BB] // combine Long & Short conditions Lcond       = L1 AND L2 AND L3 Scond       = S1 AND S2 AND S3 // return the correct triggering signal //Signal      = 0 IF Lcond THEN    //Signal = 1        //LONG  Signal    DrawArrowUP(BarIndex,low -Offset) coloured(0,128,0,150) ELSIF Scond THEN    //Signal = -1       //SHORT Signal    DrawArrowDOWN(BarIndex,high + Offset) coloured(255,0,0,255) ENDIF RETURN //Signal AS "(Signal: 1=↑, -1=↓)    ",0 AS "Zero"

  

  robertogozzi

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  11/03/2021 at 12:24 PM #180857
  supertiti

  Hola Roberto

  I don’t see the coefficient of the bollinger bands ? how can we add it ?…

  thank you

  

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  11/03/2021 at 12:46 PM #180861
  robertogozzi

  BollingerUP and BollingerDOWN have a built-in 2.0 standard deviation that cannot be changed.
  They need to be replaced by a custom BB calculation:

  BBp = 20 //20 BB periods BBdev = 2.0 //2.0 BB deviation BBavg = average[BBp,0](close) //BB mean (middle line) BollUP = BBavg + ((std[BBp](close)) * BBdev) //BB Upper Band BollDN = BBavg - ((std[BBp](close)) * BBdev) //BB Lower Band

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  BBp    = 20                                  //20   BB periods BBdev  = 2.0                                 //2.0  BB deviation BBavg  = average[BBp,0](close)               //BB mean (middle line) BollUP = BBavg + ((std[BBp](close)) * BBdev) //BB Upper Band BollDN = BBavg - ((std[BBp](close)) * BBdev) //BB Lower Band

  then replace BolligerUP and BolligerDOWN with BollUP and BollDN, respectively.

  

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  11/03/2021 at 1:08 PM #180862
  supertiti

  thank you so much Roberto

  

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  11/03/2021 at 1:29 PM #180866
  supertiti

  BBRSI divergences

  // BB-Rsi-Rsi Divergences Arrows by RobertoGozzi // // settings //ONCE RsiP = 14 perso =12 //14 RSI periods //ONCE RsiOB = 70 //70 - 30 (Overbought & Oversold) //ONCE DivLB = 40 perso = 30 //40 lookback periods for divergences //ONCE BB = 20 perso = 34 //20 Bollinger Bands periods ONCE RsiP = max(1,min(999,RsiP)) ONCE RsiOB = max(0,min(100,RsiOB)) ONCE DivLB = max(1,min(999,DivLB)) ONCE RsiOS = 100 - RsiOB Offset = average[50,0](range) * 2 // RSI divergences MyDivergence = DivergenceRSI[RsiP,RsiOS,RsiOB,DivLB](close) L1 = (MyDivergence = 1) //bullish divergence S1 = (MyDivergence = -1) //bearish divergence // RSI crossovers MyRSI = Rsi[12](close) L2 = MyRsi CROSSES OVER RsiOS //bullish crossover S2 = MyRsi CROSSES UNDER RsiOB //bearish crossover /////////////////////////////////////////////////////////////////////////// BBp = 20 //20 BB periods BBdev = 2 //2.0 BB deviation BBavg = average[BBp,0](close) //BB mean (middle line) BollUP = BBavg + ((std[BBp](close)) * BBdev) //BB Upper Band BollDN = BBavg - ((std[BBp](close)) * BBdev) //BB Lower Band //then replace BolligerUP and BolligerDOWN with BollUP and BollDN, respectively. // BB (Bollinger Bands crossovers) L3 = close CROSSES OVER BollDN [BBp] //BollingerDOWN[BB] S3 = close CROSSES UNDER BollUP [BBp] //BollingerUP[BB] ////////////////////////////////////////////////////////////////////////// // combine Long & Short conditions Lcond = L1 AND L2 AND L3 Scond = S1 AND S2 AND S3 // return the correct triggering signal //Signal = 0 IF Lcond THEN //Signal = 1 //LONG Signal DrawArrowUP(BarIndex,low -Offset) coloured(0,128,0,150) ELSIF Scond THEN //Signal = -1 //SHORT Signal DrawArrowDOWN(BarIndex,high + Offset) coloured(255,0,0,255) ENDIF RETURN //Signal AS "(Signal: 1=↑, -1=↓) ",0 AS "Zero"

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  // BB-Rsi-Rsi Divergences Arrows  by RobertoGozzi // // settings //ONCE RsiP  = 14 perso =12                 //14  RSI periods //ONCE RsiOB = 70                           //70 - 30 (Overbought & Oversold) //ONCE DivLB = 40 perso = 30                //40  lookback periods for divergences //ONCE BB    = 20 perso = 34                //20  Bollinger Bands periods ONCE RsiP    = max(1,min(999,RsiP)) ONCE RsiOB   = max(0,min(100,RsiOB)) ONCE DivLB   = max(1,min(999,DivLB)) ONCE RsiOS   = 100 - RsiOB Offset       = average[50,0](range) * 2 // RSI divergences MyDivergence = DivergenceRSI[RsiP,RsiOS,RsiOB,DivLB](close) L1           = (MyDivergence = 1)           //bullish divergence S1           = (MyDivergence = -1)          //bearish divergence // RSI crossovers MyRSI        = Rsi[12](close) L2           = MyRsi CROSSES OVER  RsiOS    //bullish crossover S2           = MyRsi CROSSES UNDER RsiOB    //bearish crossover /////////////////////////////////////////////////////////////////////////// BBp    = 20                                   //20   BB periods BBdev  = 2                                 //2.0  BB deviation BBavg  = average[BBp,0](close)               //BB mean (middle line) BollUP = BBavg + ((std[BBp](close)) * BBdev) //BB Upper Band BollDN = BBavg - ((std[BBp](close)) * BBdev) //BB Lower Band //then replace BolligerUP and BolligerDOWN with BollUP and BollDN, respectively.   // BB (Bollinger Bands crossovers) L3           = close CROSSES OVER  BollDN [BBp]  //BollingerDOWN[BB] S3           = close CROSSES UNDER BollUP [BBp]  //BollingerUP[BB] ////////////////////////////////////////////////////////////////////////// // combine Long & Short conditions Lcond       = L1 AND L2 AND L3 Scond       = S1 AND S2 AND S3 // return the correct triggering signal //Signal      = 0 IF Lcond THEN //Signal = 1        //LONG  Signal DrawArrowUP(BarIndex,low -Offset) coloured(0,128,0,150) ELSIF Scond THEN //Signal = -1       //SHORT Signal DrawArrowDOWN(BarIndex,high + Offset) coloured(255,0,0,255) ENDIF RETURN //Signal AS "(Signal: 1=↑, -1=↓)    ",0 AS "Zero"

  Is this code is right ? because my signal on “banco de sabadell” on October 6th with the same parameters  is missing  ?

  

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