OPEN-SOURCE SCRIPT
BB %B + BandWidth
**1. First Look At The Cyan Line: %B**
`%B` shows where price is located within the Bollinger Bands:
- `100`: Price is near the upper Bollinger Band
- Above `80`: Strong zone, but may also be short-term overheated
- `50`: Price is near the middle band
- Below `20`: Weak zone, but may also be short-term oversold
- `0`: Price is near the lower Bollinger Band
- Above `100`: Price has broken above the upper band
- Below `0`: Price has broken below the lower band
In your chart, the current `%B` is around `99.59`, which means price is very close to the upper Bollinger Band. Short-term momentum is strong, but it is also close to an overheated zone.
**2. Then Look At The Orange/Red Line: BandWidth PercentRank**
`BandWidth` measures the width of the Bollinger Bands, which represents volatility.
The default mode is `PercentRank`:
- Below `20`: Low volatility, likely in a squeeze
- Crossing above `20`: Possible squeeze release, volatility may start expanding
- Around `50`: Normal volatility
- Above `80`: Volatility is already high, chasing entries becomes riskier
The red background means the market is in a squeeze zone, where the Bollinger Bands are narrow and price may be building energy.
**3. How To Read The Markers**
- Green upward triangle: `%B` breaks above the upper band, a strong bullish breakout signal
- Red downward triangle: `%B` breaks below the lower band, a strong bearish breakout signal
- Red dot near the top: `%B` crosses above `80`, entering a strong/overheated zone
- Green dot near the bottom: `%B` crosses below `20`, entering a weak/oversold zone
- Yellow diamond: BandWidth exits the squeeze, volatility starts expanding
**4. Practical Usage Sequence**
A more reliable way to use it:
1. First look for the red background, which means a squeeze.
2. Wait for the yellow diamond, which means volatility is starting to release.
3. Check the direction of `%B`:
- `%B` crossing above `80` means the bullish side is stronger
- `%B` crossing below `20` means the bearish side is stronger
4. If `%B` breaks above `100` or below `0`, it means price has broken outside the Bollinger Bands and momentum is stronger.
`%B` shows where price is located within the Bollinger Bands:
- `100`: Price is near the upper Bollinger Band
- Above `80`: Strong zone, but may also be short-term overheated
- `50`: Price is near the middle band
- Below `20`: Weak zone, but may also be short-term oversold
- `0`: Price is near the lower Bollinger Band
- Above `100`: Price has broken above the upper band
- Below `0`: Price has broken below the lower band
In your chart, the current `%B` is around `99.59`, which means price is very close to the upper Bollinger Band. Short-term momentum is strong, but it is also close to an overheated zone.
**2. Then Look At The Orange/Red Line: BandWidth PercentRank**
`BandWidth` measures the width of the Bollinger Bands, which represents volatility.
The default mode is `PercentRank`:
- Below `20`: Low volatility, likely in a squeeze
- Crossing above `20`: Possible squeeze release, volatility may start expanding
- Around `50`: Normal volatility
- Above `80`: Volatility is already high, chasing entries becomes riskier
The red background means the market is in a squeeze zone, where the Bollinger Bands are narrow and price may be building energy.
**3. How To Read The Markers**
- Green upward triangle: `%B` breaks above the upper band, a strong bullish breakout signal
- Red downward triangle: `%B` breaks below the lower band, a strong bearish breakout signal
- Red dot near the top: `%B` crosses above `80`, entering a strong/overheated zone
- Green dot near the bottom: `%B` crosses below `20`, entering a weak/oversold zone
- Yellow diamond: BandWidth exits the squeeze, volatility starts expanding
**4. Practical Usage Sequence**
A more reliable way to use it:
1. First look for the red background, which means a squeeze.
2. Wait for the yellow diamond, which means volatility is starting to release.
3. Check the direction of `%B`:
- `%B` crossing above `80` means the bullish side is stronger
- `%B` crossing below `20` means the bearish side is stronger
4. If `%B` breaks above `100` or below `0`, it means price has broken outside the Bollinger Bands and momentum is stronger.
Script de código abierto
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.