QuantTherapy

APEX - Bollinger Bands %B

Bollinger Bands %B is essentially BB Range it is an indicator derived from the standard Bollinger Bands . Bollinger Bands are a volatility indicator that creates a band of three lines which are plotted on the screen.

Bollinger Bands %B works the same as other momentum oscillators, it is best to look for short-term oversold in this case a volatility imbalance between upper and lower volatility . You are looking for values that are near 0 or negative.

Compared to other momentum Oscillators the %B is slightly less responsive than CCI but it does provide more signals than RSI / STOCH and STOCHRSI.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
https://www.tradingview.com/u/QuantTherapy/#published-scripts

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