Zamboniman

Bollinger Bands %b & RSI & Stochastic Smoothed Indicator & Alert

This indicator displays RSI , a normalized Bollinger Band &b (Usual 0 -1 range of BB normalized to the OBOS range of RSI ), and a normalized smoothed Stochastic (again, normalized to the OBOS of RSI ) simultaneously with a single indicator.

It also displays buy and sell signals based upon the above.

The stochastic can be turned on and off, and the sell signal calculation will be changed accordingly ( Stochastic not used to calculate buy signal).

All periods, OBOS levels, deviation, etc, are user adjustable. The buy and sell arrows can be optionally turned off.

The indicator supports alerts for the buy and sell signals.

This is a considerably rewritten, cleaned up, and updated version of my BB %b & RSI Indicator and Alert with many more features, and including a stochastic .

This indicator is mainly for use with Cryptocurrencies in shorter time periods to display possible trade opportunities. Can also be used with Forex.




Note di rilascio: Typos fixed
Note di rilascio: more typos fixed
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Thanks you, Zamboniman.
Did you do a backtest for this indicator?
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Thank You soo much!

Do you by any chance have a video or further documentation on how to use this for Buy & Sell, I prefer not to use the alerts. Thanks
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Please be aware, sudden market drops in altcoins producing a 'buy' signal , like we saw this morning, are indeed great possible trade entry points. But I suggest in those cases to not wait for a corresponding sell signal, as the market for a given coin will often settle lower. Instead, look to sell at approximately half the drop for a tidy profit.

As always, don't take my thoughts as anything other than speculative ruminations and never invest more than you can lose.
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Thank you !! but it indicates for me only sell zones
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Zamboniman Najjar-Nidhal
@Najjar-Nidhal

Depending on the pair and currency there will be more sell signals than buy signals.

If you turn stochastic off then you will have sell signals as the inverse calculation that produces buy signals, but this will greatly limit your sell opportunities. The buy signals are limited for a reason, to ensure that it is more likely that a turnaround will occur. However, the sell signals are designed to be conservative when stochastic is turned on, to allow a profitable trade.

This can, of course, be turned off. YMMV.

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Biotin770 Zamboniman
@Zamboniman, Thank You for the script.

do you have any specific setting and what other indicators can be used together with the script for better prediction?
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Zamboniman Biotin770
@Biotin770,

I use the default settings for altcoin / btc pairs. I typically choose not to wait for a sell signal before selling, instead I set a limit order after buying for what seems an appropriate percentage gain given the chart action. I use several EMAs, short and long, as well as MACD to carefully watch the trend, and usually check other timeframes before buying, to ensure everything looks like it will indeed bounce.
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