TA Challenge: BIAS, a day trading tool for the rebound

Bias, or deviation rate, is an indicator which shows how far the current stock price deviates from a certain moving average in a certain period. The period can be 5, 20 days and so on for short-term trading. It can also be in minutes. The 30 minute BI, with candles set at 30 minute intervals, can be used for day trading. The BI is a percentage difference.
The BI shows how far the price is away from the MA. A positive BI means that the price is above the MA and there is a bullish bias. A negative BI means that the price is below the MA and the bears are in control. When the gap widens, the stock may become overbought or oversold and the trend may reverse. Hence, the BI can be used to generate trading signals based on overbought or oversold levels and trend reversals.

The chart above shows the BI. In May 2022, the BI had a very large negative value and the trend reversed to bullish. However, in late May 2022, the BI was very positive but there wasn't any trend reversal. So, the BI has to be used with other technical indicators to confirm trend reversals.
BI and RSI

The BI can also be used with the BB as shown in the chart above. In Apr 2022, the BI was positive and the price was at the top of the upper BB, a sell signal was generated. In May 2022, the BI was very negative and the price was below the lower BB, a buy signal was generated. In Jun, the BI was positive and the price was above the upper BB, a sell signal was generated. And in Jul, a buy signal was generated when the BI was negative and the price was below the lower BB.