It is all about the relationship between price and the Upper and Lower Bands. There are six basic relationships that can be quantified.
In descending order from the Upper Band:
- %B Above 1 = Price is Above the Upper Band;
- %B Equal to 1 = Price is at the Upper Band;
- %B Above .50 = Price is Above the Middle Line;
- %B Below .50 = Price is Below the Middle Line;
- %B Equal to 0 = Price is at the Lower Band;
- %B Below 0 = Price is Below the Lower Band.
Generally speaking .80 and .20 are also relevant levels:
- %B Above .80 = Price is Nearing the Upper Band;
- %B Below .20 = Price is Nearing the Lower Band.
MT5 Indicator – Download Instructions
Bollinger Percent B is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Bollinger Percent B provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Bollinger Percent B.mq5?
- Download Bollinger Percent B.mq5
- Copy Bollinger Percent B.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Bollinger Percent B.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Bollinger Percent B.mq5 is available on your Chart
How to remove Bollinger Percent B.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: