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  • RSI Bands (LazyBear)

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    Matías
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    This document contains the code for a TradingView study that plots RSI bands. It defines inputs for overbought, oversold, and RSI length levels. It then calculates upper and lower band lines using exponential moving averages of gains and losses relative to the overbought and oversold levels. The bands, midline, and RSI values are plotted on the chart.

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    RSI Bands [LazyBear]

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    This document contains the code for a TradingView study that plots RSI bands. It defines inputs for overbought, oversold, and RSI length levels. It then calculates upper and lower band lines using exponential moving averages of gains and losses relative to the overbought and oversold levels. The bands, midline, and RSI values are plotted on the chart.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    75 views1 page

    RSI Bands (LazyBear)

    Uploaded by

    Matías
    This document contains the code for a TradingView study that plots RSI bands. It defines inputs for overbought, oversold, and RSI length levels. It then calculates upper and lower band lines using exponential moving averages of gains and losses relative to the overbought and oversold levels. The bands, midline, and RSI values are plotted on the chart.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    //

    // @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)

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