Custom Indicator with Bollingerbands and RSI.
Bolinger Band Settings: Length 19, Standard Deviation 2, Other settings can be default
RSI Setting: Length 19, other settings default
Going Long:
When Price closes below the lowest part of Bollinger Band wait for RSI to go above 45. If both conditions are true create a Buy Long Alert, at candle close. This should also produce a green line or green candles to show trading view chart is in a Going Long Status. (Note Bollinger Band condition must be valid within 5 Candles of RSI above 45.)
Create a Sell Long Alert when RSI drops below 40 and Line or Candles are green (Showing currently going long on trading view chart)
Going Short:
When Price closes above the Highest part of Bollinger Band wait for RSI to go below 55. If both conditions are true create a Buy Short Alert, at candle close. This should also produce a red line or red candles to show trading view graph is in a Going Short Status. (Note Bollinger Band condition must be valid within 5 Candles of RSI below 55.)
Create a Sell Short Alert when RSI rises above 60 and Line or Candles are Red (Showing currently going short on trading view chart)
When not going long or going short please show line or candles in Grey on trading view chart. This shows that no trading is currently going on.
No repainting all signals should happen after the close of bars.
Hello,
I have good knowledge to develop indicators, strategy, alerts and etc using pine script in tradingView.
I would like to discuss more detail with you.
Best,
Okcana D.