If you’re looking for a way to gauge price movements relative to Bollinger Bands, the DBB oscillator is a handy tool that displays the distance between the price and the Bollinger Bands as two distinct lines on your chart.
With the DBB indicator, you have two ways to visualize this data:
- As a percentage;
- In actual price points.
Let's break down the four key parameters you can customize:
- BB Period - This is the period used for calculating the Bollinger Bands;
- BB Deviation - This parameter sets the deviation for the Bollinger Bands;
- Applied Price - This is the price level used in the calculations;
- Display Mode - Here, you can choose how you want the data displayed:
- Percentage - Shows the data in percentages;
- Price Points - Displays it in actual price points.
Fig 1. Showing data in percentages
Fig. 2. Showing data in price points
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