The %b indicator shows the percentage ratio of the last price and the lower and upper Bollinger bands. If the price is on the moving average line, the %b indicator will be displayed in the additional window with a value of 50, which means 50% between the bands. The value of %b can be negative (below the lower band) or more than 100 (above the upper band) if the price goes beyond the bands. In the indicator, you can also specify the values for the upper and lower lines. By default, they are set to 0 and 100 – 0% and 100%, showing the lower and upper bounds of the Bollinger Bands. These lines can be moved to display the necessary boundaries, for example, 15 and 85, to see the price crossing the 15% or 85% levels.

Use this indicator with our free Bollinger BandWidth product to make efficient use of the Bollinger bands. The %b indicator allows you to see the position of the price relative to the Bollinger bands with increasing and decreasing volatility. Input parameters:

• BandPeriods: The number of periods for calculating the moving average in the middle of the Bollinger Bands.
• Deviations: The number of standard deviations used to calculate the upper and lower Bollinger bands.
• UpperLevel: the upper line of the indicator
• LowerLevel: the lower line of the indicator

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Calculations of the %b indicator:

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