This is my best approximation of the RBCI . Its not perfect, but it does the job well enough.
A good way to use it is to enter when the singal line (light blue) RE ENTERS the channel from below. I circled these points on the indicator in green.
Information to create was gathered mostly here: http://www.finware.com/article1.html
RBCI (Range Bound Channel Index) – is calculated by means of the channel (bandwidth) filter ( CF ). Channel filter simultaneously fulfills two functions:
Removes low frequent trend formed by low frequent components of the spectrum with periods, more T2= 1/fc2;
Removes high frequency noise formed by the high frequent components of the spectrum with periods, less T1= 1/fc1.
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