The Bollinger Bands Percentage B indicator presents a histogram on a subgraph, displaying the position of the current price in relation to the Bollinger Bands. By expressing this as a percentage, it highlights the distance of the price from the upper or lower bands.
Bollinger Percent B: Displays a histogram highlighting the position of the price in relation to the Bollinger Bands.
Zero Line: Represents the lower boundary of the Bollinger Bands. Values falling beneath this line may suggest the price is below the lower band, potentially indicating an oversold scenario.
Half Line: Represents the midpoint of the Bollinger Bands, indicating that the price aligns directly with the center of the bandwidth.
Unit Line: Represents the upper limit of the Bollinger Bands. When values exceed this line, it indicates the price has surpassed the upper band, and may be associated with potential overbought conditions.
Parameters:
Average Type: Determines the type of moving average applied in calculations. Options available are 'Simple', 'Exponential', 'Weighted', 'Wilders', and 'Hull'.
Price: Specifies which price point will form the foundation for the band calculations, with choices like 'Close', 'High', 'Low', 'Open', 'Volume', and 'VWAP'.
Displace: Indicates the number of bars to adjust the Bollinger Bands either forward or backward. Positive values correspond to a backward adjustment.
Length: Represents the total bars or periods employed in deriving the Bollinger Bands.
Num Dev Down: Sets the number of deviations for charting the lower band.
Num Dev Up: Determines the deviations count to draft the upper band.
Half Line: Fixed at 50, designating the midpoint of the Bollinger Bands spectrum.
Unit Line: Positioned at 100, indicating the upper boundary of the Bollinger Bands.
Bollinger Percent B Indicator subgraph on chart
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.