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.
סקריפט קוד פתוח
ברוח האמיתית של TradingView, יוצר הסקריפט הזה הפך אותו לקוד פתוח, כך שסוחרים יוכלו לעיין בו ולאמת את פעולתו. כל הכבוד למחבר! אמנם ניתן להשתמש בו בחינם, אך זכור כי פרסום חוזר של הקוד כפוף ל־כללי הבית שלנו.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
סקריפט קוד פתוח
ברוח האמיתית של TradingView, יוצר הסקריפט הזה הפך אותו לקוד פתוח, כך שסוחרים יוכלו לעיין בו ולאמת את פעולתו. כל הכבוד למחבר! אמנם ניתן להשתמש בו בחינם, אך זכור כי פרסום חוזר של הקוד כפוף ל־כללי הבית שלנו.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.