Description
The Bollinger Bands® Percentage B is a technical indicator based upon the Bollinger Bands® study; it plots a histogram showing position of price relative to the bands. It is calculated as percentage ratio of two differences: first one is the difference between the price and the lower band value, second one is the difference between values of upper and lower bands.
Input Parameters
| Parameter | Description |
|---|---|
average type
|
The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull. |
price
|
The price used in calculations of the bands. |
displace
|
The number of bars to shift the Bollinger Bands® study forward or backward. Positive numbers signify a backward displacement. |
length
|
The number of bars used to calculate the Bollinger Bands® study. |
num dev dn
|
The number of deviations to plot the lower band. |
num dev up
|
The number of deviations to plot the upper band. |
Plots
| Plot | Description |
|---|---|
PercentB
|
The Bollinger Band® Percentage B histogram. |
ZeroLine
|
The zero level. Values below this line signify that price is less than the lower band value indicating oversold conditions. |
HalfLine
|
The 50% level. Values at this level signify that price is right in the middle of the bandwidth. |
UnitLine
|
The 100% level. Values above this line signify that price is higher than the upper band value indicating overbought conditions. |
Bollinger Bands® is a registered trademark of John Bollinger.
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.