Bollinger Band Percentile SuiteThe Bollinger Band Percentile Suite (𝐵𝐵𝒫𝒸𝓉 𝒮𝓊𝒾𝓉𝑒) is a comprehensive and customizable toolkit built upon the foundation of the %B indicator. The methodology behind this toolkit remains consistent with the original %B indicator, while introducing a host of powerful features to enhance its functionality and adaptability.
Key Features and Customization:
The 𝐵𝐵𝒫𝒸𝓉 offers a wide array of customizable options to suit your trading preferences and strategies. It includes a variety of 14 moving average types that can be chosen as the basis for the Bollinger Band calculation. Additionally, traders have the flexibility to set their upper and lower boundaries for mean reversion detection, allowing for analysis tailored to the user's preference.
Deviation Calculation:
The toolkit provides an option to choose between standard and weighted deviation calculation methods. This added customization ensures that the indicator's behavior aligns with your unique trading style and preferences.
Signals and Reversals:
The 𝐵𝐵𝒫𝒸𝓉 excels in identifying potential overbought and oversold market conditions. It highlights these levels on the chart and marks potential reversal signals with small circles positioned either at the top or bottom of the indicator pane, providing traders with actionable insights.
Trend and Color Coding:
Incorporating a color-coded approach, the BBpct Suite enhances your understanding of market dynamics. It offers bar coloring options based on trend, allowing traders to identify bullish or bearish market conditions as the percentile goes above or below the midline.
Extremities and Reversions:
Recognizing extreme market conditions is crucial for traders. The 𝐵𝐵𝒫𝒸𝓉 includes color-coded indicators for extremities, indicating when the percentile ventures above or below the predefined thresholds. Moreover, it promptly identifies reversions by marking the moment the percentile crosses under the upper threshold (overbought) or over the lower threshold (oversold).
The Bollinger Band Percentile Suite equips traders with a versatile toolkit to gain valuable insights into market overbought and oversold conditions, and potential reversal signals. Its extensive customization options and array of features empower traders to make well-informed decisions based on their unique trading strategies and risk tolerance.
Please note that while the BBpct Suite provides robust analysis, it is advisable to combine its insights with other technical indicators and tools for a comprehensive trading approach.
Example Chart:
Percentb
Bollinger Bands %B (ValueRay)One of the key features of this BB%B is its ability to highlight overbought and oversold conditions. This allows you to make informed decisions on when to enter and exit a trade, helping you maximize your profits and minimize your losses.
- Bollinger Bands %B with the ability to change to a different Time Frame.(Defaults to current Chart Time Frame).
- Ability To Turn On/Off Background Highlighting if BB %B is Above/Below 0 / 1 thresholds.
- Ability To Turn On/Off Background Highlighting when BB %B Crosses back above/unser 0/1 thresholds.
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My personal recommandation use: combine with CM_Ultimate RSI Multi Time Frame (ChrisMoody) and have solid oversold/overbought levels, when hes RSI and my BB %B are bot red/green
+ %UMAIf you are familiar with the %B for use with Bollinger Bands, then you will understand this indicator immediately.
Designed for use with my +UMA moving average, this works in exactly the same way, with a few differences.
First off, as you can choose on which type of moving average the calculations are made, so too you will want to match this up with the one you are using. That of course goes for the standard deviation as well (just like you would with Bollinger Bands and %B). Here, because the +UMA uses highs and lows to create a sort of moving average channel, and then also to create the bands, I've opted to set the inner part of the bands as the extreme edge that the %UMA equates with the upper and lower lines.
I've added a moving average, donchian channels, and auto-plotted divergences as well, if you like. Typical color related stuff that I do. Alerts for everything.
Hope you like it!
The above image is comparing two of the same indicator, but based on different moving averages, and how it might plot divergences differently between the two.
Williams Vix Fix BB + RVI & Squeeze (Keltner) filtered BBW + %BLegend:
- When line touches or crosses red band it is Top signal (Williams Vix Fix)
- When line touches or crosses blue band it is Bottom signal (Williams Vix Fix)
- Red dot at the top of indicator is a Top signal (Relative Volatility Index)
- Blue dot at the top of indicator is a Bottom signal (Relative Volatility Index)
- Gray dot at the bottom of indicator is a Keltner Squeeze signal (filtered by either BBW or %B)
- Silver dot at the bottom of indicator is a weaker Keltner Squeeze signal (Doesn't meet either BBW or %B filter)
- Purple is a 'Half Squeeze' only 1 Bollinger Band crossed the Keltner Channel
This is an attempt to make use of the main features of all 6 of these Volatility tools :
- Williams Vix Fix + Bollinger Bands
- Relative Volatility Index (RVI)
- The crossing of Keltner Channel by the Bollinger Bands (Squeeze)
Conditions to Help Filter Keltner Squeeze:
- When the Bollinger Bands Width (BBW) value is lower than the lowest value within a period plus a margin of error (percentage)
- When the %B value reaches the alert level detailed in LazyBears indicator. ()
If it meets one of these 2 filters and there is a Keltner Channel Squeeze than gray color or else if the squeeze doesn’t meet one of the 2 filters than silver color (weaker Squeeze).
The goal is to find the best tool to find bottoms and top relative to volatility and filter the squeeze.
The idea is that both Williams Vix Fix + Bollinger Bands and Relative Volatility Index both already give the main volatility bottom and top so combining them to compare and validate the signals makes sense. (Note: Bottom signal is more accurate than top). In addition, I added the squeeze to show the potential breakout pressure and to compliment bottom and top signals.
For ideas on how to continue this work :
I encourage ideas to combine the Williams Vix Fix and Relative Volatility Index for volatility top and bottom (with probability would be awesome)
And I encourage ideas to filter Keltner Channel Volatility Squeeze using both the BBW or %B or other volatility squeeze indicators or a combination of all of them.
Also, I encourage people to post their top parameters for the BBW and %B to filter the Keltner Squeeze in the comments or to send me them by chat relative to this indicator.
Half the battle is making the indicator, while the other half is tuning the parameters.
The current parameters are one of the least aggressive, and act as a mild filter.
Note: You can also change the threshold for RVI top and bottom.
And this work builds on my last indicator:
If you have ideas on this work or have ideas on potential combinations please message me, I always want to learn or get perspective on how it can be improved.
Sharing is how we get better (Parameter tuning, ideas, discussion)
I don’t reinvent the wheel, just trying to make the wheel better.
+ BB %B: MA selection, bar coloring, multi-timeframe, and alerts+ %B is, at its simplest, the classic Bollinger Bands %B indicator with a few added bells and whistles.
However, the right combination of bells and whistles will often improve and make a more adaptable indicator.
Classically, Bollinger Bands %B is an indicator that measures volatility, and the momentum and strength of a trend, and/or price movements.
It shows "overbought" and "oversold" spots on a chart, and is also useful for identifying divergences between price and trend (similar to RSI).
With + %B I've added the options to select one or two moving averages, candle coloring, and a host of others.
Let's start with the moving averages:
There are options for two: one faster and one slower. Or combine them how you will, or omit one or both of them entirely.
Here you will find options for SMA, EMA (as well as double and triple), Hull MA, Jurik MA, Least Squares MA, Triangular MA, Volatility Adjusted MA, and Weighted MA.
A moving average essentially helps to define trend by smoothing the noise of movements of the underlying asset, or, in this case, the output of the indicator.
All of these MAs available track this in a different way, and it's up to the trader to figure out which makes most sense to him/her.
MA's, in my opinion, improve the basic %B by providing a clearer picture of what the indicator is actually "seeing", and may be useful for providing entries and exits.
Next up is candle coloring:
I've added the option for this indicator to color candles on the chart based on where the %B is in relation to its upper and lower bounds, and median line.
If the %B is above the median but below the upper bound, candles will be green (showing bullish market structure). If %B is below the median but above the lower bound, candles will be red (denoting bearish market structure).
Overbought and oversold candles will also be colored on the chart, so that a quick glance will tell you whether price action is bullish/bearish or "oversold"/"overbought".
I've also added functionality that enables candles to be colored based on if the %B has crossed up or crossed down the primary moving average.
One example as a way to potentially use these features is if the candles are showing oversold coloration followed by the %B crossing up your moving average coloration. You might consider a long there (or exit a short position if you are short).
And the last couple of tweaks:
You may set the timeframe to whatever you wish, so maybe you're trading on the hourly, but you want to know where the %B is on the 4h chart. You can do that.
The background fill for the indicator is split into bullish and bearish halves. Obviously you may turn the background off, or make it all one color as well.
I've also added alerts, so you may set alerts for "overbought" and "oversold" conditions.
You may also set alerts for %B crossing over or under the primary moving average, or for crossing the median line.
All of these things may be turned on and off. You can pretty much customize this to your heart's delight. I see no reason why anyone would use the standard %B after playing with this.
I am no coder. I had this idea in my head, though, and I made it happen through referencing another indicator I was familiar with, and watching tutorials on YouTube.
Credits:
Firstly, thanks to www.tradingview.com for his brilliant, free tutorials on YouTube.
Secondly, thanks to www.tradingview.com for his beautiful SSL Hybrid indicator (and his clean code) from which I obtained the MAs.
Please enjoy this indicator, and I hope that it serves you well. :)
Hybrid Overbought/Oversold Detector + Put/Call SignalsThere are many indicators of overbought/oversold conditions out there. Some of more common ones are:
- Bollinger Bands %B
- Money Flow Index (MFI)
- Relative Strength Index (RSI)
- Stochastic
This script uses a combination of these 4 oscillators to confirm overbought/oversold and filter the signals of market reverse which could be used for trading binary options.
You may select which oscillators you want to apply and of course change the source, the length of the calculations and the overbought/oversold levels.
Also the script will draw a combined graph which is the average of the selected oscillators in the options.
Send me your ideas!
Keltner | Bollinger | SqueezePercent B (%B), it's derivation Percent K (%K) and squeeze indicator combined in one.
blue line = bollinger %
orange line = keltner %
red background = squeeze*
squeeze = bollinger bands are inside (encapsulated by) keltner channel
