UCS_BB %B with BB
A sneaky way to notice the real overbought and oversold levels with BB%B.
Uday C Santhakumar
study(title = "Bollinger Bands %B Bollinger Bands", shorttitle = "BB %B BB") source = close length = input(20, minval=1), mult = input(2.0, minval=0.001, maxval=50) basis = sma(source, length) dev = mult * stdev(source, length) upper = basis + dev lower = basis - dev bbr = (source - lower)/(upper - lower) plot(bbr, color=teal) basisa = sma(bbr, length) deva = mult * stdev(bbr, length) uppera = basisa + deva lowera = basisa - deva plot(basisa, color=red) p1 = plot(uppera, color=blue) p2 = plot(lowera, color=blue) fill(p1, p2)