BollingerBands: Bandwidth

BollingerBands: Bandwidth is a derivative indicator of BollingerBands. It measures the difference between the upper and lower bands in percent. The Bandwidth value decreases when the difference between Bollinger Bands decreases and increases when the difference increases. Since the BollingerBands indicator is based on standard deviation, Bandwidth decrease reflects volatility weakening while Bandwidth increase reflects volatility strengthening.

How the indicator looks like in the chart:

Image 27059

The indicator has the following parameters:

Image 27060

Settings

Period - period of the BollingerBands indicator.

Channel width - setting of the channel width in the BollingerBands indicator.

Common

Source - setting of the indicator calculation parameters:

  • Open
  • High
  • Low
  • Close
  • Volume

Drawing

Panel - selection of the indicator location in the chart:

  • New panel
  • Chart

Visualization

Show value - showing the indicator value on the price scale.

Show zero values - showing zero values.

Scale - if this option is ON, the scale will be automatically calculated based on the minimum and maximum indicator values, so that the indicator would be accommodated in the chart.

Color

Visual type - visual setting of displaying the indicator in the chart:

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

Line style - setting of the line display style:

  • Dot
  • Solid
  • Dash
  • Dash - dot
  • Dash - dot - dot

Width - setting of the indicator line width.

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