MT5 Bollinger Bands RSI Indicator Download – Free | Forex Indicator Download – MetaTrader 5 Resources

The Bollinger Bands RSI indicator was developed by combining two analytical tools: the Bollinger Bands indicator and the Relative Strength Index (RSI).

By analyzing price fluctuations and trend momentum, this oscillator helps to accurately identify reversal areas and is used to determine entry and exit points.

Bollinger Bands RSI Oscillator Spec Sheet

The specifications of the Bollinger Bands RSI indicator are as shown in the table below:

Bollinger Bands RSI indicator overview

In the Bollinger Bands RSI oscillator, when the “RSI” line touches the lower band, it indicates an oversold condition and the indicator draws a green arrow to give a buy signal.

On the contrary, when the “RSI” line hits the upper limit, an overbought condition is detected and the indicator shows a red arrow as a sell signal.

Buy Position

According to the GBP/USD currency pair chart on the 1 hour time frame, the RSI line touching the lower band indicates entering the oversold zone .

Subsequently, the indicator identified a potential reversal and issued a buy signal at the same spot by displaying a green arrow.

Sell ​​Position

According to the USD/JPY 30-minute chart, the RSI line hitting the upper band indicates overbought conditions and a potential price reversal.

In this case, the indicator considers the contact point as a sell signal and marks it with a red arrow.

Bollinger Bands RSI indicator settings

The Bollinger Bands RSI indicator is set up as follows:

• RSI period: relative strength index calculation period
• RSI price: price type used for RSI calculations
• BB periods: Number of periods used to calculate Bollinger Bands
• BB deviation: draw the standard deviation value of the upper and lower bounds
• BB shift: the movement amount of Bollinger Bands relative to the chart
• ALERT: Enable alert
• EMAIL: Send alerts via email
• NOTIFICATION: Enable notifications
• MESSAGE_TIMEOUT: Display the duration of the signal alert message
• MESSAGE_SUBJECT: Title or label of the alert message when sent

Conclusion

Bollinger Bands RSI oscillator, by combining Bollinger Bands and RSI, accurately displays overbought and oversold zones.

When the RSI line touches the lower band, the indicator generates a buy signal, while when it touches the upper band, it generates a sell signal.

Combining volatility analysis with momentum makes this tool ideal for analyzing stocks, forex markets and cryptocurrencies .