Frankator BBRSI

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🧭Strategy Description of Frankator BBRSI: Bollinger Bands + RSI Signal (only on 5 min chart)

Overview

This indicator combines Bollinger Bands and the Relative Strength Index (RSI) to identify potential overbought and oversold market conditions.
It generates buy and sell signals when the price reaches extreme levels confirmed by RSI momentum — helping traders anticipate potential reversals or continuation setups.

📊 How It Works

Bollinger Bands

The script plots three lines:
Upper Band: SMA + (Standard Deviation × Multiplier)
Basis (Middle Band): Simple Moving Average (SMA)
Lower Band: SMA - (Standard Deviation × Multiplier)
When the price touches or breaks the upper band, it may indicate an overbought market.
When the price touches or drops below the lower band, it may indicate an oversold market.

RSI Confirmation

RSI measures momentum to confirm whether the market is truly overbought or oversold.
Default RSI levels:
Overbought: RSI > 70
Oversold: RSI < 30

Signal Conditions

Buy Signal:

Price closes at or below the lower Bollinger Band
RSI < 30 (oversold)
A green triangle appears below the candle

Sell Signal:

Price closes at or above the upper Bollinger Band
RSI > 70 (overbought)
A red triangle appears above the candle

Alerts

You can set TradingView alerts for automatic notifications when either a Buy or Sell condition is met.

Go to “Add Alert” → “Condition” → Choose this indicator → Select Buy/Sell Signal, or Any alert for both alerts.

⚠️ Disclaimer

This indicator is a technical analysis tool, not a guarantee of future performance. Always use proper risk management and confirm signals with other indicators or price patterns before entering trades.

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Phát hành các Ghi chú

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Phát hành các Ghi chú

Re entry signals modified.
The signals will trigger only when the RSI is about to re enter the set RSI levels by 1.

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Phát hành các Ghi chú

✅ What’s new and dynamic:

Each BB touch automatically opens a new detection cycle.
You can get new re-entry alerts every time price hits a band again.

Opposite-side resets:
If price touches the opposite Bollinger Band, the script resets the prior touch’s state.
(E.g., if it hit upper, the lower detection resets.)

Multiple RSI re-entries per touch:
RSI can move up and down multiple times within the reentryLookback window — and each crossover triggers a new alert.

Fully self-contained & automatic:
You don’t need to reset or wait manually; it just keeps tracking dynamically.

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Phát hành các Ghi chú

Dynamic script with Buying Selling Background colour added
The RSI and BB multiple re entry alerts

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Phát hành các Ghi chú

dynamic updates

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Phát hành các Ghi chú

Added alerts for both buy and sell