Stochastic RSI Heat Bollinger Bands

30 oct 2021

This indicator is based on a combination of the famous Bollinger Bands and the Stochastic RSI indicator.

Bands are dynamically colored (and filled) with a RGB color composed by red and green values, directly generated from the average Stochastic RSI current value.
By default, colors represent the following status -> green zone is overgought & red zone is oversold.
A screener is also displayed on the chart, representing StochRSI K and D lines values, RSI value, as well as the current status (Overbought/Oversold) of the StochRSI and RSI indicators.

Notes:
The heat color and the screener status are both based on the average value between the K and D lines (for stochastic RSI based heat)
Bands can be disabled in options to use this indicator as a simple moving average colored by the Stochastic RSI heat color.

Options:

• Various moving average types (SMA, EMA, SMMA, VWMA...)
  
• Inversion of colors between overbought and oversold status
  
• Enabling/disabling heat color on bands / basis line and bands background color
  
• Show/Hide the screener
  
• Color source can be modified to base the heat on the RSI instead of the Stochastic RSI value
  
• Standards Bollinger bands, Stochastic and RSI parameters
  

Example


Feel free to suggest any improvements in comment.

30 oct 2021

Notas de prensa

Update

• Diamonds representing oversold and overbought situaitons has been added to the top of the chart. This option can be disabled in parameters