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:
Usuń z Ulubionych Skryptów Dodaj do Ulubionych Skryptów
//
// @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
Dear LazyBear,
thank you a lot for splendid tools !
I use only RSI Bands and I feel its great power !
Could you please to sell code of other two indicators RSI %B and RSI Bandwidth ?
(I found them in your indicators list but URL of this page

115. RSI Bands:
116. RSI %B:
117. RSI Bandwidth: )

waiting for your answer,
Kind-man
Odpowiedź
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
+1 Odpowiedź
nDman_sk tlewis334
@tlewis334, Thank you so much.
Odpowiedź
Hey LB!
I love reading your posts and your scripts!

I was wondering if you or anyone here could directed to me to seeing the RSI %B and Bandwidth scripts?
That would be awesome! :)
Odpowiedź
Hey LB really amazing indicators you made here!!

Can you make an on-chart version of the MFI too?
Regrds Pipo.
Odpowiedź
how can i get RSI %B and Bandwidth?
+1 Odpowiedź
Thanks for this great indicator.
Can you share RSI %B and Bandwidth scripts?
+1 Odpowiedź
Thank you LazyBear for sharing the script. If you don't mind can you please tell which language is this? My self is also a programmer and I would like to learn the same. Thanks in advance.
Odpowiedź
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!!
Odpowiedź
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.
+6 Odpowiedź
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