OPEN-SOURCE SCRIPT
Madrid Bollinger Bands %D
BB %B : Madrid : 06/JUN/2014 23:36 : 2.0
This displays the distance from the lower band in terms of percentage. The farther it is from the basis line, the stronger the trend.
When the price exceeds 100% or it's below 0% it means the price has reached an overbought (above 100) or oversold (below 0) level.
This displays the distance from the lower band in terms of percentage. The farther it is from the basis line, the stronger the trend.
When the price exceeds 100% or it's below 0% it means the price has reached an overbought (above 100) or oversold (below 0) level.
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.
Related publications
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.
Related publications
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.