Boll %B

The Boll %B indicator finds the position of a security within Bollinger Bands. BBoll %B is simply a percentage measure of a security’s location between the bands. Boll %B can be lower than 0 or higher than 100 if price moves outside the bands

Generally speaking, a Boll %B near or above 100 can suggest an overbought market, while a value near or below 0 can indicate an oversold market.

Configuration Options

• Field: Price or combination of prices to use as the base for average calculations. Possible values include:

• Open

• High

• Low

• Close

• Adjusted Close

• HL/2 \( \left ( \frac{High + Low}{2} \right ) \)

• HLC/3 \( \left ( \frac{High + Low + Close}{3} \right ) \)

• HLCC/4 \( \left ( \frac{High + Low + Close + Close}{4} \right ) \)

• OHLC/4 \( \left ( \frac{Open + High + Low + Close}{4} \right ) \)

• Period: Number of bars to use in the calculations.
• Standard Deviations: Number of standard deviations above and below the average to draw the bands.
• Moving Average Type: Type of moving average to use in the calculations:
  • Simple
  • Exponential
  • Time Series
  • Triangular
  • Variable
  • VIDYA
  • Weighted
  • Welles Winder
  • Hull
  • Double Exponential
  • Triple Exponential
• Color Selectors: Colors to use for graph elements.
• Display Axis Label: Whether to display the most recent value on the Y axis.

Typically, bandwidth parameters will match the user’s preferred Bollinger Band parameters.

Formula