Double RSI + BB

2023年1月3日

RSI stands for Relative Strength Index.
Bollinger Bands stands for a channel open by standard deviation values plotting upper, lower lines.
Double RSI with Bollinger bands adapted Bollinger bands to RSI not using overlay mode. It tries to filter fake signals while giving more good signals according to volatility even below overbought areas or above oversold areas. This way you can use greater values for RSI, like 25 and 100, increasing smoothness with less market noise.
We added an extra gap spacer to smooth Bollinger bands while widening the channel with a lower multiplier.

I found better results when Fast RSI crosses back into Bollinger bands channel.

You can play with the following settings:

• Source
Close is the most used
• Fast RSI length
Default to 25
• Slow RSI length
Default to 100
• RSI Smoothing
To filter out some graphic noise
• RSI Overbought, Oversold
Regular overbought, oversold lines handled by a single value. For 70/30, set it to 20 although with longer RSI something around 15 is enough.
• Bollinger Spacer
Ads thickness to the channel with lower multiplier
• Bollinger Length
Regular Bollinger length applied to slow RSI
• Bollinger Multiplier
Regular Bollinger multiplier applied to slow RSI

Disclaimer:
For study purposes only, trading without a good risk management can be regrettable, do your own research, always add confirmations, use it as is, at your own risk.

2023年1月4日

版本注释

Minor color fix upgrade.

2025年12月14日

版本注释

**Double RSI + Bollinger Bands** is an advanced momentum indicator that combines dual RSI analysis with Bollinger Bands to identify high-probability trading opportunities. This powerful tool detects overbought/oversold conditions, momentum shifts, and critical divergence patterns that often precede trend reversals.

### 🎯 Key Features

✅ **Dual RSI System** - Fast (25) and Slow (100) RSI with customizable smoothing
✅ **Bollinger Bands** - Applied to slow RSI to identify volatility-based zones
✅ **Smart Divergence Detection** - Automatically finds bullish/bearish divergences with visual alerts
✅ **Color-Coded Zones** - Dynamic fills show market conditions at a glance
✅ **Built-in Alerts** - Get notified when divergences occur
✅ **Fully Customizable** - Adjust all parameters to match your trading style

### 📊 How It Works

The indicator displays two smoothed RSI lines in a sub-window. Bollinger Bands wrap around the slow RSI, creating dynamic support/resistance zones. The fast RSI provides entry/exit signals when it interacts with these bands.

**Color Signals:**
- 🔴 Red = Extreme overbought (above upper band + overbought threshold)
- 🟠 Orange = Overbought (above upper band)
- 🟢 Green = Oversold (below lower band)
- 🟡 Yellow = Neutral zone

**Divergence Detection:**
- **Bullish Divergence** (Lime): Price makes lower low, RSI makes higher low → Potential reversal up
- **Bearish Divergence** (Purple): Price makes higher high, RSI makes lower high → Potential reversal down

### ⚙️ Quick Setup

**Default Settings (Recommended to start):**
- Fast RSI: 25
- Slow RSI: 100
- RSI Smoothing: 4
- Bollinger Length: 15
- Bollinger Multiplier: 3
- RSI OS/OB: 15 (for 65/35 levels, or set to 20 for 70/30)
- Divergence Sensitivity: 10

### 🚀 Trading Signals

**Long Entry:**
- Fast RSI crosses above lower Bollinger Band from oversold
- Bullish divergence detected (lime line + dot)

**Short Entry:**
- Fast RSI crosses below upper Bollinger Band from overbought
- Bearish divergence detected (purple line + dot)

### 💡 Pro Tips

1. **Best Timeframes**: 5m-15m for day trading, 1h-4h for swing trading, 1D for position trading
2. **Confirm with Price Action**: Always validate signals with chart patterns
3. **Multiple Timeframes**: Check higher timeframe trend before entering
4. **Risk Management**: Use stop losses and proper position sizing
5. **Avoid Choppy Markets**: Works best in trending conditions

### 🔔 Alerts

Set up alerts for:
- Bearish Divergence (price higher high, RSI lower high)
- Bullish Divergence (price lower low, RSI higher low)

### 📈 Use Cases

- Day Trading: Identify momentum shifts and reversal points
- Swing Trading: Catch trend reversals early with divergence signals
- Position Trading: Confirm long-term trend changes
- Risk Management: Identify overbought/oversold conditions for exits

### ⚠️ Important

This is a tool, not a standalone system. Always use proper risk management, confirm signals with price action, and backtest strategies before live trading.

**Works on all markets**: Crypto, Forex, Stocks, Commodities, Futures

---

*Like this indicator? Please leave a comment and share your results!*

---

2025年12月14日

版本注释

**Double RSI + Bollinger Bands** is an advanced momentum indicator that combines dual RSI analysis with Bollinger Bands to identify high-probability trading opportunities. This powerful tool detects overbought/oversold conditions, momentum shifts, and critical divergence patterns that often precede trend reversals.

### 🎯 Key Features

✅ **Dual RSI System** - Fast (25) and Slow (100) RSI with customizable smoothing
✅ **Bollinger Bands** - Applied to slow RSI to identify volatility-based zones
✅ **Smart Divergence Detection** - Automatically finds bullish/bearish divergences with visual alerts
✅ **Color-Coded Zones** - Dynamic fills show market conditions at a glance
✅ **Built-in Alerts** - Get notified when divergences occur
✅ **Fully Customizable** - Adjust all parameters to match your trading style

### 📊 How It Works

The indicator displays two smoothed RSI lines in a sub-window. Bollinger Bands wrap around the slow RSI, creating dynamic support/resistance zones. The fast RSI provides entry/exit signals when it interacts with these bands.

**Color Signals:**
- 🔴 Red = Extreme overbought (above upper band + overbought threshold)
- 🟠 Orange = Overbought (above upper band)
- 🟢 Green = Oversold (below lower band)
- 🟡 Yellow = Neutral zone

**Divergence Detection:**
- **Bullish Divergence** (Lime): Price makes lower low, RSI makes higher low → Potential reversal up
- **Bearish Divergence** (Purple): Price makes higher high, RSI makes lower high → Potential reversal down

### ⚙️ Quick Setup

**Default Settings (Recommended to start):**
- Fast RSI: 25
- Slow RSI: 100
- RSI Smoothing: 4
- Bollinger Length: 15
- Bollinger Multiplier: 3
- RSI OS/OB: 15 (for 65/35 levels, or set to 20 for 70/30)
- Divergence Sensitivity: 10

### 🚀 Trading Signals

**Long Entry:**
- Fast RSI crosses above lower Bollinger Band from oversold
- Bullish divergence detected (lime line + dot)

**Short Entry:**
- Fast RSI crosses below upper Bollinger Band from overbought
- Bearish divergence detected (purple line + dot)

### 💡 Pro Tips

1. **Best Timeframes**: 5m-15m for day trading, 1h-4h for swing trading, 1D for position trading
2. **Confirm with Price Action**: Always validate signals with chart patterns
3. **Multiple Timeframes**: Check higher timeframe trend before entering
4. **Risk Management**: Use stop losses and proper position sizing
5. **Avoid Choppy Markets**: Works best in trending conditions

### 🔔 Alerts

Set up alerts for:
- Bearish Divergence (price higher high, RSI lower high)
- Bullish Divergence (price lower low, RSI higher low)

### 📈 Use Cases

- Day Trading: Identify momentum shifts and reversal points
- Swing Trading: Catch trend reversals early with divergence signals
- Position Trading: Confirm long-term trend changes
- Risk Management: Identify overbought/oversold conditions for exits

### ⚠️ Important

This is a tool, not a standalone system. Always use proper risk management, confirm signals with price action, and backtest strategies before live trading.

**Works on all markets**: Crypto, Forex, Stocks, Commodities, Futures

---

*Like this indicator? Please leave a comment and share your results!*

---