Hi Gino,
Food for thought and depends how much effort and risk you want to take. Purely your (trading) decision.
I studied numerous alogorithms in the late 90s for my job at the time. Technical charting became our play ground and decisions where I worked (bunch of frequency analysts, lots of algo's)
Anyway. We studied algo's on BBs and RSI. In a nut shell both are very simliar. BBs use the 20sma and deviations from this. Being 20day sma it levels out the variations. RSI uses 14day and shows a bit more variation and reactions to market sentiment (emotion).
For info, ema's are weighted sma's to the more recent days, so can then be usful against the sma to see the difference. Hence people like the 8ema v 20sma. Which sure I use sometimes.
I like to have 3 signals in my charts for my trades, either ST or LT.
The chart below shows that a BB by itself is not overly useful, but one can see that the 20sma did break the lower BB, but would be a risky trade and big balls given that it just broke the channel. Same goes for the RSI, not overly useful by itself, it is trading slightly upwards (ie, higher highs, higher lows).
However! Now if one includes the candles, everything changes. It all becomes so much clear and the quick flip of slicks is a good trade (but risky and he knows over time trend anaylsis, well done. Paper trade first Gino before you try this IMO). But given the US SVB news on Thurs night I am sitting my hands until after US trade tonight).
The Candles show how good BBs can be, as to RSI. Slick has mastered the
combination of both using pattern recognition, not just BB, IMO. As to I, I use RSI with candles and can really more than most as I like to see the 'emotion' of the peoples trading styles. Hence why I love IMU, full of emotion and generally good volume to get in and out of. BB's are on my charts as my third indicator, then volume 4th.
This is all for info, and sharing of my knowledge, not suggested trading on without practice. Please DYOR into Algo's, it can be dry and boring but you'll understand what I mean above.
All the best.
(20min delay)