Zero value equals to a close on the lower bound. 50 value equals to a close on the Bollinger moving average. Finally, 100 value equals to a close on the upper bound.

This is an oscillator that provides overbought / oversold signals over 100 and under 0 levels. Divergences with price levels may be profited upon.

REM Calculation of Bollinger oscillator

delta = CLOSE - BOLLINGERDOWN
width = 4 * STD

BBO = delta * 100 / width

RETURN BBO AS"Bollinger Band Oscillator"

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Filename: percent-B-Bollinger.itf

Downloads: 140

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Filename: B-bollinger.png

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