LazyBear

RSI Bands, RSI %B and RSI Bandwidth

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.

If you want to use RSI %B and Bandwidth, follow this guide to "Make mine" this chart and get access to the source:
https://drive.google.com/file/d/0Bx48Du_...

For the complete list of my indicators, check this post:
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Ingin menggunakan skrip ini pada carta?
//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("RSI Bands [LazyBear]", shorttitle="RSIBANDS_LB", overlay=true)
obLevel = input(70, title="RSI Overbought")
osLevel = input(30, title="RSI Oversold")
length = input(14, title="RSI Length")
src=close
ep = 2 * length - 1
auc = ema( max( src - src[1], 0 ), ep )
adc = ema( max( src[1] - src, 0 ), ep )
x1 = (length - 1) * ( adc * obLevel / (100-obLevel) - auc)
ub = iff( x1 >= 0, src + x1, src + x1 * (100-obLevel)/obLevel )
x2 = (length - 1) * ( adc * osLevel / (100-osLevel) - auc)
lb = iff( x2 >= 0, src + x2, src + x2 * (100-osLevel)/osLevel )

plot( ub, title="Resistance", color=red, linewidth=2)
plot( lb, title="Support", color=green, linewidth=2)
plot( avg(ub, lb), title="RSI Midline", color=gray, linewidth=1)

List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Komen

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.
+13 Balas
Thanks for this great indicator.
Can you share RSI %B and Bandwidth scripts?
+5 Balas
how can i get RSI %B and Bandwidth?
+4 Balas
For those looking for the RB%B_LB I have posted the script at

since the make it mine feature is no longer available. Thanks for all these great indis lazy bear!
@migm
@nDman_sk
@TRADE2020
+2 Balas
nDman_sk SnekTrade
@SnekTrade, Thank you so much.
Balas
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!!
+2 Balas
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
+2 Balas
LazyBear MONEYMENOW
YW :)
+1 Balas
BizkitBR LazyBear
Hey LazyBear is your new RSIBands+ with background colors OB/OS lines ready to post here yet? Thanks....
Balas
LazyBear BizkitBR
Here you go:

Source: http://pastebin.com/EhbPU6TS

Sample image:
+3 Balas
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