OPEN-SOURCE SCRIPT
%Bs
An indicator with 10 configurable %B lines for identifying trends, overbought and oversold conditions, and reversal points. %B is a linear representation of a securities relationship to the Upper and Lower Bollinger Bands. The best opportunities arise when a security is oversold in a bullish trend and overbought in a bearish trend. The longer %B trend-lines in this indicator are very useful for major reversals. They can be used to indicate the high or low of the day on a 1-minute chart or show a multi-year reversal point.
%B = (Current Price - Lower Band) / (Upper Band - Lower Band)
%B = (Current Price - Lower Band) / (Upper Band - Lower Band)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.