Bollinger Bands Bands with Telson T8

Indicator idea based on classic Bollinger bands and Telson T8 moving average.
The indicator detects Bollinger bands narrowing which should predict a move to a direction, up or down.

NOTE: You need to define in the indicator settings ("Percent Narrow") the percentage between the upper and lower bands that would be highlighted.
For example: if you set 5%, the indicator will highlight the parts that the upper and lower bands are less than 5% compare the current price (usually close price, but you can define otherwise)

Use the Telson T8 to determinate the trend/direction of the move.
Telson T8 changes based on if close price is above the T8 (green) or close price is below the T8 (red).

Comment:

Note that now script is available in TV at scripts.
Look for "Bollinger Bands Bands with Telson T8"