OPEN-SOURCE SCRIPT
Bollinger Bands Width and Bollinger Bands %B
This script shows both the Bollinger Band Width(BBW) and %B on the same indicator window.
Both the BBW and %B are introduced by John Bollinger(creator of Bollinger Bands) in 2010.
Default Parameter values: Length = 20, Source = Close, Mult = 2
Bollinger Bands Width (BBW): Color = (Default: Green [#138484])
- I consider stocks with "BBW >= 4" are at a volatile state and ready for price contraction, but this depends on the parameter values of your choice.
Bollinger Bands %B (%B): Color = (Default: Blue [#62b6ee])
1. %B Above 10 = Price is Above the Upper Band
2. %B Equal to 10 = Price is at the Upper Band
3. %B Above 5 = Price is Above the Middle Line
4. %B Below 5 = Price is Below the Middle Line
5. %B Equal to 0 = Price is at the Lower Band
6. %B Below 0 = Price is Below the Lower Band
Both the BBW and %B are introduced by John Bollinger(creator of Bollinger Bands) in 2010.
Default Parameter values: Length = 20, Source = Close, Mult = 2
Bollinger Bands Width (BBW): Color = (Default: Green [#138484])
- I consider stocks with "BBW >= 4" are at a volatile state and ready for price contraction, but this depends on the parameter values of your choice.
Bollinger Bands %B (%B): Color = (Default: Blue [#62b6ee])
1. %B Above 10 = Price is Above the Upper Band
2. %B Equal to 10 = Price is at the Upper Band
3. %B Above 5 = Price is Above the Middle Line
4. %B Below 5 = Price is Below the Middle Line
5. %B Equal to 0 = Price is at the Lower Band
6. %B Below 0 = Price is Below the 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.