RedAndBlue Indicator Lights

RedAndBlue Indicator Lights — RSI, MFI, and Bollinger Band Sentiment Table

This indicator provides a multi-timeframe sentiment dashboard using RSI, MFI, and Bollinger Bands, visualized in a compact color-coded table.

What it does:

• Evaluates RSI and MFI values across multiple timeframes: 5m, 15m, 30m, 1h, 2h, 4h, and 1D
  
• Analyzes Bollinger Bands in two ways:
  BB = compares candle body position relative to Bollinger Bands
  BBw = checks whether candle wicks pierce above or below the bands
  
• Each cell displays the indicator value or a symbolic label (↓↓, ↓, –, ↑, ↑↑)
  
• Color-coded backgrounds reflect overbought/oversold zones
  
• All thresholds and colors are fully customizable in the input settings
  

Color meanings:

• Green: Strong oversold (value < low1)
  
• Light blue: Slightly oversold (value < low2)
  
• White: Neutral zone (between low2 and high2)
  
• Yellow: Slightly overbought (value > high2)
  
• Red: Strong overbought (value > high1)
  

BB and BBw label meanings:

• ↓↓ = Price (or wick) pierced below the lower Bollinger Band
  
• ↓ = Candle body is between lower band and midline
  
• – = Candle body crosses the midline (neutral)
  
• ↑ = Candle body is between midline and upper band
  
• ↑↑ = Price (or wick) pierced above the upper Bollinger Band
  

How to use it effectively:

• If RSI, MFI, BB, and BBw all show oversold signals (green or light blue) across multiple timeframes, especially on 1h, 4h, or 1D, it may signal a good buying opportunity
  
• If the indicators all show overbought signals (red or yellow), it may indicate a potential exit or short zone
  
• BBw shows wick-based signals and can act as an early warning; BB confirms with the candle body
  
• Use this table to spot sentiment confluence across timeframes before entering a trade
  
• If most cells are white, the market is likely in a sideways or neutral state
  

This indicator helps you quickly identify multi-timeframe sentiment shifts and potential reversal points through a clean, structured visual layout.