BollingerBands

Bollinger bands (BB) is a technical analysis indicator, which is based on the simple moving average and two moving windows of standard deviations in a specific period. This indicator advantage lies in its ability to adapt to the market volatility. If the volatility is low, the indicator bars narrow their range and if the volatility is high, they expand it. Therefore, many interesting market strategies that use Bollinger Bands are based on the price breaking out of a narrow range of moving standard deviations.

The indicator view on the chart.

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To add and set up this indicator, open the settings window.


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Top Band/Middle Band/Bottom Band

Use Alerts - enable the indicator’s alerts.

Repeat alert - trigger an alert even if it has already been on the current bar.

Approximation filter - alert triggering borders from the desired level.

Alert file - select an alert sound.

Font color - alert text color.

Background - alert background color.


Common.

Sourse-setup of the indicator calculation parameters:

  • Open
  • High
  • Low
  • Close
  • Volume

Period - setup of the indicator calculation period.

Channel width-setup of the channel width.

Shift - a horizontal shift of the indicator according to the specified number of bars.

Drawing.

Panel - select the location of the indicator on the chart:

  • New panel.
  • Chart.

BackGround

Visible-On/off of the channel background display.

Scale-if this option is on, the scale is calculated automatically based on the minimum and maximum values of the indicator to fit the latter in the chart.

Color-color channel background.

BollingerBands Up/Down

Show value - display of the indicator value on the left on the price scale.

Scale – if this option is enabled, the scale will be automatically calculated based on the minimum and maximum values of the indicator so it would fit on the chart.

Color-color setup of the indicator.

Visual type– visual setup of the indicator display on the chart:

  • Line
  • Histogram
  • Hash
  • Block
  • Cross
  • Square
  • Dots
  • Up arrow
  • Down arrow
  • Axis label
  • Hide

Line style-setup of the line display:

  • Solide
  • Dash
  • Dash-dot
  • Dash-dot-dot

Width - set the thickness of the indicator line.

BackGround Neutral/Up/Down.

Visible - enable/disable channel background display.

Scale - if this option is enabled, the scale will be automatically calculated based on the minimum and maximum values of the indicator so it would fit on the chart.

Color - channel background color setting.

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