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RSI with BB for Amibroker (AFL)

ravivulli almost 11 years ago Amibroker (AFL)

  • Rating:
    4 / 5 (Votes 4)
  • Tags:
    oscillator, amibroker, bands

Instead of using RSI 70/30 levels it is more accurate to use it with the Bollinger Bands. This formula draws Bollinger Bands also draw lines for 70/30 levels. This is a working progress, I am planning to add Divergence arrows to the same formula in future.

Indicator / Formula

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_SECTION_BEGIN("RSI-BB");

T1=Param("RSI Period",14,1,200,1);

T2=Param("BBand Period",50,1,200,1);

T3=Param("BBand Standard Deviations",2.1,1,5,0.1);

fn1=RSIa(C,T1);

fn2=BBandBot(fn1,T2,T3);

fn3=BBandTop(fn1,T2,T3);


Plot(fn1,"RSI",colorGreen);
Plot(fn2,"BBBot",ParamColor( "Color", colorCycle ),ParamStyle("Style", styleLine ));
Plot(fn3,"BBTop",ParamColor( "Color", colorCycle ),ParamStyle("Style", styleLine ));

_SECTION_END();

_SECTION_BEGIN("RSI-70");
Plot(70, "RSI", ParamColor( "Color", colorGreen ), ParamStyle("Style", styleDashed )); 
_SECTION_END();

_SECTION_BEGIN("RSI-50"); 
Plot(50, "RSI", ParamColor( "Color", colorLightGrey ), ParamStyle("Style", styleDashed )); 
_SECTION_END();

_SECTION_BEGIN("RSI-30");
Plot(30, "RSI", ParamColor( "Color", colorRed ), ParamStyle("Style", styleDashed )); 
_SECTION_END();

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