John Bollinger created this indicator in 2010 as a way to read the original indicator (Bollinger Bands) in a more “technical” way, shown as an oscillator. The typical range of the Bollinger Bands %B is 0 – 0.5 – 1.0, where “0” represents the lower band, the “0.5” the middle band, and “1” the upper band. The line on the indicator represents the Closing prices. As simple as that.
SETTINGS
- Bollinger Bands period of analysis
- Standard Deviation multiplier
- Shift
- Price type to be analyzed
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