OPEN-SOURCE SCRIPT

RSI + BB + ATR Short Signal

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This indicator highlights potential short setups by combining three conditions:

  1. RSI Overbought – RSI must be above the user-defined level.
  2. Bollinger Band Break – Price must close above the upper Bollinger Band.
  3. Extended Above the 5-Day Low – Price must sit at least X ATR above the recent 5-day low.


When all conditions line up on the same bar, the script plots a red triangle above the candle and triggers an alert so you can act immediately.

To help visualise the setup, the script also plots the full Bollinger Bands (upper, middle, lower) and a line showing the threshold of 5-day-low + ATR × multiplier. You can adjust RSI length and level, Bollinger settings, ATR length, and the ATR multiplier.

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