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. To this end, many interesting strategies in the market using Bollinger Bands are based on the price exceedance of the narrow moving standard deviation range.
View indicator on the chart.
The Middle stripe-SMA with a period of 20 by default;
Lower band-SMA minus 2 standard deviations;
Upper band-SMA plus 2 standard deviations.
To add and set up this indicator, open the settings window.
Sourse-setup of the indicator calculation parameters:
Period-setup of the indicator calculation parameters:
Channeel width-setup of the channel width.
Panel-select the location indicator on the chart:
- New panel.
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.
Show value - display of the indicator value on the left on the price scale.
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 setup of the indicator.
Visual type– visual setup of the indicator display on the chart:
- Up arrow
- Down arrow
- Axis label
Line style-setup of the line display:
Width– width setup for the indicator line.
The Down/Up lines have the same visual settings as the BollingerBands line.
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