RSI bands provide an intuitive way of visualizing how the price movement causes RSI to move with in its range (0-100). Upper/Lower bands signify overbought and oversold levels respectively (Default: 70/30, you can customize them via options page). These bands closely match what Constance Brown explains in her book "Technical Analysis for the Trading Professional".
I have also coded up 2 scripts to visualize %B and Bandwidth, just as in BollingerBands. As you can see %B is equivalent to the actual RSI. Along with RSI_Bandwidth and %B, the bands convey a lot of information.
Another tip is to render Bollinger Bands along with RSIBands...endless possibilities :)
I have included all 3 scripts in the same chart, as they are all related. Since TradingView doesn't allow sharing more than one script in the same chart, you can only "Add script" RSI Bands.
I want to use RSI %B and Bandwidth, i tried to look for "Make mine" button, i dont see that button any more. can you or any one, point me to where to find the RSI %B and Bandwidth ?
i can see the RSI bands in the indicator list but no the RSI %B and Bandwidth.
Mnbrass549
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@TRADE2020, well you can just need to merge the 2 simple click the +++ button on the indicator and move it to same PANE as the Other Pane and Merge Indicators on the Right.
nDman_sk
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Thanks for this great indicator.
Can you share RSI %B and Bandwidth scripts?
This is a fantastic indicator, thank you so much for sharing this with us. I have been looking for something like this for weeks. Once again, thanks so much!!
MONEYMENOW
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These 3 indicators have lots of info.. OMG.. it has so much info that I can write few pages on how to use it.. May I? if u permit me then I would like post notes on these 3 combo bomb.. Also, could u write such a program using Ultimate Oscillator.. can u write a program that would mark SR Levels using Ultimate Oscillator on the chart. If u could, it would be great help. Thanks.
LazyBear
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Sure. Will see if I can do a similar thing for UO.
BTW, appreciate if you could send me those "few pages" doc you mentioned, once done. :)
MONEYMENOW
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AMAZING INDICATOR.. my search for indicator has come to an end with this indicator. Thanks.. I have practically tried all possible indicators here.. this is the best and the last one.. thanks
i can see the RSI bands in the indicator list but no the RSI %B and Bandwidth.