Ken's Bloinger % B

WebEx Study presentation, Starting at 17 Minutes into the presentation (link)

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# Bollinger Band Percentage B

# This study plots the relative percentage that the price tracked has moved from the upper band to the lower band.

# hint AverageType: The type of average used in the Bollinger Band calculation. (Default is SMA)

# hint price: The price used to calculate the Bollinger Band. (Default is CLOSE)

# hint displace: Displacement the number of bars that the Bollinger Band is shifted left or right. (Default is 0)

# hint length: The number of bars used to calculate the average. (Default is 20)

# hint Num_Dev_Dn: The number of deviations below the average to plot the lower Bollinger band. (Default is -2.0)

# hint Num_Dev_Up: The number of deviations above the average to plot the upper Bollinger band. (Default is 2.0)

#

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declare lower;

input AverageType = {default SMA, EMA};

input price = close;

input displace = 0;

input length = 5;

input Num_Dev_Dn = -1.0;

input Num_Dev_up = 1.0;

def upperBand;

def lowerBand;

switch (AverageType) {

case SMA:

upperBand = BollingerBandsSMA(price, displace, length, Num_Dev_Dn, Num_Dev_up).UpperBand;

lowerBand = BollingerBandsSMA(price, displace, length, Num_Dev_Dn, Num_Dev_up).LowerBand;

case EMA:

upperBand = BollingerBandsEMA(price, displace, length, Num_Dev_Dn, Num_Dev_up).UpperBand;

lowerBand = BollingerBandsEMA(price, displace, length, Num_Dev_Dn, Num_Dev_up).LowerBand;

}

plot PercentB = (price - lowerBand) / (upperBand - lowerBand) * 100;

plot ZeroLine = 0;

plot HalfLine = 50;

plot UnitLine = 100;

PercentB.AssignValueColor(if PercentB > 100 then GetColor(5) else if PercentB > 0 and PercentB < 100 then GetColor(6) else GetColor(1));

PercentB.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

PercentB.SetLineWeight(5);

ZeroLine.SetDefaultColor(GetColor(8));

HalfLine.SetDefaultColor(GetColor(8));

UnitLine.SetDefaultColor(GetColor(8));