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.
Skrypt open-source
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Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.