%B quantifies a security's price relative to the Upper and Lower Bollinger Band.
There are six basic relationship Levels :
%B equals 1 when price is at the upper band
%B equals 0 when price is at the lower band
%B is above 1 when price is above the upper band
%B is below 0 when price is below the lower band
%B is above .50 when price is above the middle band (20-day SMA)
%B is below .50 when price is below the middle band (20-day SMA)
%B can be used to identify Overbought and Oversold situations.
However, it is Important to know when to look for Overbought readings and when to look for Oversold readings.
As with most Momentum oscillators, it is Best to look for Short-term Oversold situations when the Medium-term trend is Up. And Short-term Overbought situations when the Medium-term trend is Down.
In other words, look for opportunities in the direction of the bigger trend, such as a pullback within a bigger uptrend. Define the bigger trend before looking for overbought or oversold readings.
Parameter :
Price
Period
Std Dev
MA Type -- type for MA
1. Simple
2, Exponential
3. Time Series
4. Triangular
5. VIDYA
6. Weighted
7. Wilder Smoothing
NOTE :
Can Add the 'Other Levels' in Levels ie. -0,25 ; -0.50 and 0.25 ; 0.50 etc.
