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//@version=4

study(title          = "BULB indicator",

     shorttitle      = "BULB indicator",

     overlay         = true,

     precision       = 4,

     linktoseries    = false,

     max_bars_back   = 1000,

     max_lines_count = 500)

recommendation = input(true, title = "BULB")

rsiSource = close

rsiLength = 13

rsiOverbought = 70

rsiOvesold = 30

rsiValue = rsi(rsiSource, rsiLength)

isOverbought = rsiValue >= rsiOverbought

isOversold = rsiValue <= rsiOvesold

var laststate = 0

var hh = low

var ll = high

var label labelll = na

var label labelhh = na

var line line_up = na

var line line_down = na

var last_actual_label_hh_price = 0.0

var last_actual_label_ll_price = 0.0

obLabelText() =>

    if(last_actual_label_hh_price < high)

        "sell"

    else

        "sell"

osLabelText() =>

    if(last_actual_label_ll_price < low)

        "buy"

    else

        "buy"

createOverBoughtLabel(isIt) =>

    if(isIt)

        label.new(x=bar_index, y=na ,yloc=yloc.price, style=label.style_label_down, color=#F70700, size=size.normal, text=obLabelText(), textcolor = color.white)

    else

        label.new(x=bar_index, y=na ,yloc=yloc.price, style=label.style_label_up, color=#22E139, size=size.normal, text=osLabelText(), textcolor = color.white)

moveOversoldLabel() =>

    label.set_x(labelll, bar_index)

    label.set_y(labelll, low)

    label.set_text(labelll, osLabelText())

    line.set_x1(line_down, bar_index)

    line.set_y1(line_down, low)

moveOverBoughtLabel() =>

    label.set_x(labelhh, bar_index)

    label.set_y(labelhh, high)

    label.set_text(labelhh, obLabelText())

    line.set_x1(line_up, bar_index)

    line.set_y1(line_up, high)

if(laststate == 2 and isOverbought and recommendation)

    hh := high

    labelhh := createOverBoughtLabel(true)

    last_actual_label_ll_price := label.get_y(labelll)

    labelll_ts = label.get_x(labelll)

    labelll_price = label.get_y(labelll)

    line_up := line.new(x1=bar_index, y1=high, x2=labelll_ts, y2=labelll_price, width=1)

if(laststate == 1 and isOversold and recommendation)

    ll := low

    labelll := createOverBoughtLabel(false)

    last_actual_label_hh_price := label.get_y(labelhh)

    labelhh_ts = label.get_x(labelhh)

    labelhh_price = label.get_y(labelhh)

    line_down := line.new(x1=bar_index, y1=high, x2=labelhh_ts, y2=labelhh_price, width=1)

if(isOverbought and recommendation)

    if(high >= hh)

        hh := high

        moveOverBoughtLabel()

    laststate := 1

if(isOversold and recommendation)

    if(low <= ll)

        ll := low

        moveOversoldLabel()

    laststate := 2

if(laststate == 1 and isOverbought and recommendation)

    if(hh <= high)

        hh := high

        moveOverBoughtLabel()

if(laststate == 2 and isOversold and recommendation)

    if(low <= ll)

        ll := low

        moveOversoldLabel()

if(laststate == 1 and recommendation)

    if(hh <= high)

        hh := high

        moveOverBoughtLabel()

if(laststate == 2 and recommendation)

    if(ll >= low)

        ll := low

        moveOversoldLabel()