Trending: Jurnal Manajemen dan Ekonomi
Vol. 4 No. 4 (2026): Oktober: Trending: Jurnal Manajemen dan Ekonomi

Integrasi Moving Average (MA), Relative Strength Index (RSI), dan Bollinger Bands (BB) dalam Analisis Teknikal Pergerakan Harga Saham Indeks LQ45

Afrilia Saputri (Politeknik Negeri Sriwijaya)
Neneng Miskiyah (Politeknik Negeri Sriwijaya)
Divianto Divianto (Politeknik Negeri Sriwijaya)



Article Info

Publish Date
01 Oct 2026

Abstract

Stock price fluctuations demand the use of technical analysis that is able to provide more comprehensive information to support investment decision-making. This study aims to analyze stock price movements using the Moving Average (MA), Relative Strength Index (RSI), and Bollinger Band (BB) indicators, as well as evaluate the accuracy of the transaction signals produced. The study uses a descriptive quantitative approach with secondary data in the form of the daily closing prices of 10 companies that are members of the LQ45 Index for the 2023–2025 period. Samples were determined using purposive sampling techniques, while data were analyzed through the calculation of MA, RSI, and BB indicators and evaluated using the backtesting method. The results of the study show that six stocks have a downtrend trend, while the other four stocks are dominated by an uptrend. The average RSI value of the entire sample is at neutral conditions, while the volatility level measured using the Bollinger Band shows variations on each stock. The integration of the three indicators is able to provide information on trends, momentum, and volatility more thoroughly and generate transaction signals that can support technical analysis. The results  of backtesting showed that the signal accuracy rate ranged from 42% to 53%, with the highest accuracy in UNTR shares and the lowest in ASII shares. These findings suggest that the combination of MA, RSI, and BB can be used as one approach in technical analysis to support investment decision-making.

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Journal Info

Abbrev

Trending

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

kajian-kajian aktual seputar bidang manajemen dan bisnis dalam perspektif ekonomi konvensional maupun ekonomi syariah. Kajian-kajian tersebut diharapkan dapat memperkaya khasanah keilmuan di bidang manajemen dan bisnis sehingga dapat menjadi salah satu referensi bagi para akademisi, pemangku ...