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:
The indicator has the following parameters:
Period - period of the BollingerBands indicator.
Channel width - setting of the channel width in the BollingerBands indicator.
Source - setting of the indicator calculation parameters:
Panel - selection of the indicator location in the chart:
- New panel
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.
Visual type - visual setting of displaying the indicator in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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