I have also coded up 2 scripts to visualize %B and Bandwidth, just as in BollingerBands. As you can see %B is equivalent to the actual . Along with RSI_Bandwidth and %B, the bands convey a lot of information.
Another tip is to render along with RSIBands...endless possibilities :)
I have included all 3 scripts in the same chart, as they are all related. Since TradingView doesn't allow sharing more than one script in the same chart, you can only "Add script" Bands.
If you want to use %B and Bandwidth, follow this guide to "Make mine" this chart and get access to the source:
For the complete list of my indicators, check this post:
// // @author LazyBear // List of all my indicators: https://www.tradingview.com/v/4IneGo8h/ // study("RSI Bands [LazyBear]", shorttitle="RSIBANDS_LB", overlay=true) obLevel = input(70, title="RSI Overbought") osLevel = input(30, title="RSI Oversold") length = input(14, title="RSI Length") src=close ep = 2 * length - 1 auc = ema( max( src - src, 0 ), ep ) adc = ema( max( src - src, 0 ), ep ) x1 = (length - 1) * ( adc * obLevel / (100-obLevel) - auc) ub = iff( x1 >= 0, src + x1, src + x1 * (100-obLevel)/obLevel ) x2 = (length - 1) * ( adc * osLevel / (100-osLevel) - auc) lb = iff( x2 >= 0, src + x2, src + x2 * (100-osLevel)/osLevel ) plot( ub, title="Resistance", color=red, linewidth=2) plot( lb, title="Support", color=green, linewidth=2) plot( avg(ub, lb), title="RSI Midline", color=gray, linewidth=1)