RSI Deviation Oscillator

This Oscillator measures the %B of the RSI with a length of 14 Periods. This means: the current position of the RSI relative to its 20-period Simple Moving Average. Values above 1 are above the upper Bollinger Band (2 StdDev) and can be considered overbought, values below 0 are below the Lower Bollinger Band and can be considered oversold.

⚠️ Important info: ⚠️

Do not use the indicator on its own. No indicator is magic. Only use in confluence with other price action methods.

✅ Recommendations: ✅

Use the Indicator for Exits, not Entries.

Keep BB length at 20, or:
10 for quick info on where the price currently stands
50 for the bigger picture and less noise

Works best with:
Support & Resistance Levels
Bollinger Bands on the Chart
Combination with the Standard RSI