BB + RSI, Double Strategy (by ChartArt) / Owl of Profit remake

Special thanks to ChartArt for the original concept and inspiration.

This strategy combines Bollinger Bands with the Relative Strength Index (RSI) to identify overbought and oversold conditions, providing precise entry and exit points.

Features:
Bollinger Bands:

Measures volatility and price deviations from the SMA.
Period Length: 200 (default).
Standard Deviation Multiplier: 2.0 (default).
Helps identify potential reversal zones at the upper and lower bands.
Relative Strength Index (RSI):

A momentum oscillator to measure overbought and oversold conditions.
Length: 6 (default).
Overbought Level: 50 (default).
Oversold Level: 50 (default).
Entry and Exit Logic:
Long Entry:

RSI crosses above the oversold level (50).
Price crosses above the lower Bollinger Band.
Short Entry:

RSI crosses below the overbought level (50).
Price crosses below the upper Bollinger Band.
Exit Logic:

Long positions are closed when the price and RSI criteria for a short entry are met.
Short positions are closed when the price and RSI criteria for a long entry are met.
Visualization:
Bollinger Bands:

Plotted with the basis (aqua line), upper band (silver), and lower band (silver).
Background fill highlights the bands.
Bar and Background Colors:

Green for bullish conditions (price below the lower band and RSI below the oversold level).
Red for bearish conditions (price above the upper band and RSI above the overbought level).
Customization:
Adjustable Bollinger Bands and RSI parameters to fit different market conditions.
Optional bar and background coloring for enhanced chart readability.
This strategy is ideal for traders looking to combine volatility and momentum analysis for high-probability entries and exits.

Visit my website for more tools and strategies: bybitindicators.com

Happy trading!