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    cTrader Bollinger Bands %B


    Limited Support (Read Me)

    This cTrader Bollinger Bands %B Indicator is described by John Bollinger on his website and it indicates the position of the closing price relative to Bollinger-Bands plotted at 2 standard deviations on a 20-day average, it is best to use this indicator in a trending or ranging market. Telegram alerts included.
    Version: 1.0.0 - help?
    Type: cTrader Indicator - Trending Markets

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    This indicator can be used to identify overbought and oversold situations and as with most momentum oscillators, it is better to look for oversold situations over the short term and when the medium-term trend is up and visa versa for overbought. You should be looking for openings in the direction of the larger trend movements, such as a pullback within a bigger uptrend. The best use of this indicator is with a trending market.

     

    cTrader Bollinger Bands Percent B

    Long Signal

    Provides a bullish signal when a retracement of the %B value has closed below the lower Bollinger line of 0 and is followed by a second retracement where the %B value moves back above the lower Bollinger line of 0.

    Short Signal

    Provides a bearish signal when a retracement of the %B value has closed above the upper Bollinger line of 1 and is followed by a second retracement where the %B value moves back below the upper Bollinger line of 1.

    Alerts Calculation

    The long and short alerts are calculated on each incoming price tick of data and not when the candle closes, this may produce some false signals, but is much faster.

    Calculation & Formula

    Bollinger %B = (Price - Lower Band)/(Upper Band - Lower Band)

    Indicator Lines Explained

    Bollinger Band %B quantifies a security's price relative to the upper and lower Bollinger Band and there are six basic relationship levels. While the cTrader Bollinger %B indicator can have some value on its own, it is best when used in combination with other indicators for price analysis.%B equals 1 when the price is at the upper band

    • %B equals 0 when the price is at the lower band
    • %B is above 1 when the price is above the upper band
    • %B is below 0 when the price is below the lower band
    • %B is above .50 when the price is above the middle band (20-day SMA)
    • %B is below .50 when the price is below the middle band (20-day SMA)

    Configurable Parameters Explained

    Your adjustable parameters are shown below with explanations of the less obvious ones.

    • Show signal lines: if set to YES a vertical line is displayed on the chart for a buy or sell signal.
    • Price: option to choose open, high, low or close prices.
    • Period: the periods used in the calculation
    • Std deviation: the standard deviation
    • MA type: 8 different types of moving average to choose including Hull.

    Email Notifications

    You will notice that some of the configurable settings show an email address, this is the address that alert messages are sent to, by default no emails will be sent if you have not set up an email account with the cTrader platform.

    Telegram Notifications

    To receive Telegram notifications you will need to find your Bot Token and Chat ID credentials.

     

    cTrader Bollinger Telegram

    What is Telegram?

    The Telegram messenger service is a secure encrypted chat tool that you can install on your mobile phone or PC which allows traders to share information and receive trade alerts from automated trading systems (cBots) and custom indicators.

    Watch a Video Explainer

    We have recorded a hands-on tutorial on how to use the cBot.

    Duration: 8-minutes - Watch full screen on YouTube

     

    cTrader Bollinger %B Indicator

    How To Install

    First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install onto the platform.

    Instant Chat Support

    If you want a speedy reply to your questions just post your questions on our Telegram chat group.

    This indicator can be used to identify overbought and oversold situations and as with most momentum oscillators, it is better to look for oversold situations over the short term and when the medium-term trend is up and visa versa for overbought. You should be looking for openings in the direction of the larger trend movements, such as a pullback within a bigger uptrend. The best use of this indicator is with a trending market.

     

    cTrader Bollinger Bands Percent B

    Long Signal

    Provides a bullish signal when a retracement of the %B value has closed below the lower Bollinger line of 0 and is followed by a second retracement where the %B value moves back above the lower Bollinger line of 0.

    Short Signal

    Provides a bearish signal when a retracement of the %B value has closed above the upper Bollinger line of 1 and is followed by a second retracement where the %B value moves back below the upper Bollinger line of 1.

    Alerts Calculation

    The long and short alerts are calculated on each incoming price tick of data and not when the candle closes, this may produce some false signals, but is much faster.

    Calculation & Formula

    Bollinger %B = (Price - Lower Band)/(Upper Band - Lower Band)

    Indicator Lines Explained

    Bollinger Band %B quantifies a security's price relative to the upper and lower Bollinger Band and there are six basic relationship levels. While the cTrader Bollinger %B indicator can have some value on its own, it is best when used in combination with other indicators for price analysis.%B equals 1 when the price is at the upper band

    • %B equals 0 when the price is at the lower band
    • %B is above 1 when the price is above the upper band
    • %B is below 0 when the price is below the lower band
    • %B is above .50 when the price is above the middle band (20-day SMA)
    • %B is below .50 when the price is below the middle band (20-day SMA)

    Configurable Parameters Explained

    Your adjustable parameters are shown below with explanations of the less obvious ones.

    • Show signal lines: if set to YES a vertical line is displayed on the chart for a buy or sell signal.
    • Price: option to choose open, high, low or close prices.
    • Period: the periods used in the calculation
    • Std deviation: the standard deviation
    • MA type: 8 different types of moving average to choose including Hull.

    Email Notifications

    You will notice that some of the configurable settings show an email address, this is the address that alert messages are sent to, by default no emails will be sent if you have not set up an email account with the cTrader platform.

    Telegram Notifications

    To receive Telegram notifications you will need to find your Bot Token and Chat ID credentials.

     

    cTrader Bollinger Telegram

    What is Telegram?

    The Telegram messenger service is a secure encrypted chat tool that you can install on your mobile phone or PC which allows traders to share information and receive trade alerts from automated trading systems (cBots) and custom indicators.

    Watch a Video Explainer

    We have recorded a hands-on tutorial on how to use the cBot.

    Duration: 8-minutes - Watch full screen on YouTube

     

    cTrader Bollinger %B Indicator

    How To Install

    First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install onto the platform.

    Instant Chat Support

    If you want a speedy reply to your questions just post your questions on our Telegram chat group.