bb (20,1.00) %B(20,1 std)
Familiar with Technical Indicator?, "Percent B"
Hi. This is my first post.
I have this indicator in my stock trading platform, Fidelity Active Trader, but I have not been able to find a forex broker who has it in their charting software.
Do you know of any brokers that offer this indicator?
If not, do you know where I can find more information about this indicator and/or its formula?
Thank you.
Reply With QuoteApril 9th, 2005 12:49 PM #2
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Re: Familiar with Technical Indicator?, "Percent B"
Hi Chris1010
Im not familiar with your brokers platform so cant be 100% sure. However John Bollinger in his book on bollinger bands describes an indicator that he calls %b. This indicator basically tells you where price is in relation to the upper and lower bollinger bands.
The indicator displays a value of 1 when price is at the upper band, 0.5 when price is at the central band, and 0 when at the lower band. The indicator may also go above 1 and below 0 when price moves outside the band
Its an easy enough indicator to calculate:
%b = (price - lower band) / (upper band - lower band)
It might be worth sticking bollingers on your chart and comparing to the %b indicator to confirm. I may even have a custom indicator i programed for metatrader somewhere, happy to share if it helps.
I havnt seen %b on any brokers platforms but I havnt really much experience in that area.
mick
April 11th, 2005 09:09 AM #3
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Re: Familiar with Technical Indicator?, "Percent B"
Zupcon,
Thank you for your detailed reply. It really helps.
If you could find that formula for Bollinger Percent B and post it here or email it to me that would be great.
Thank you.
April 16th, 2005 08:32 PM #4
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Re: Familiar with Technical Indicator?, "Percent B"
%B = (Close - Lower Band) / (Upper Band - Lower Band)
Multiply through by 100 to get a base 0 to 100 scale. Keep in mind, however, that sometimes the value will exceed those bounds if the market closes either above the upper band or below the lower band.
