P/B Ratio (Per Share) vs Median + Bollinger Band

- 📝 This indicator highlights potential buying opportunities by analyzing the Price-to-Book (P/B) ratio in relation to Bollinger Bands and its historical median.

- 🎯 The goal is to provide a visually intuitive signal for value-oriented entries, especially when valuation compression aligns with historical context.

- 💡 Vertical green shading is applied when the P/B ratio drops below the lower Bollinger Band, which is calculated directly from the P/B ratio itself — not price. This condition often signals the ticker may be oversold.

- 🟢 Lighter green appears when the ratio is below the lower band but above the median, suggesting a possible shorter-term entry with slightly more risk.

- 🟢 Darker green appears when the ratio is both below the lower band and below the median, pointing to a potentially stronger, longer-term value entry.

- ⚠️ This logic was tested using 1 and 2-day time frames. It may not be as helpful in longer time frames, as the financial data TradingView pulls in begins in Q4 2017.

- ⚠️ Note: This script relies on financial data availability through TradingView. It may not function properly with certain tickers — especially ETFs, IPOs, or thinly tracked assets — where P/S ratio data is missing or incomplete.

- ⚠️ This indicator will not guarantee successful results. Use in conjunction with other indicators and do your due diligence.

- 🤖 This script was iteratively refined with the help of AI to ensure clean logic, minimalist design, and actionable signal clarity.

- 📢 Idea is based on the script "Historical PE ratio vs median" by haribotagada [tradingview.com/script/LYPchnk0-Historical-PE-ratio-vs-median/]

- 💬 Questions, feedback, or suggestions? Drop a comment — I’d love to hear how you’re using it or what you'd like to see changed.