What it does
%B expresses where price sits within its Bollinger Bands as a number: %B = (price - lower band) / (upper band - lower band). A value of 1 means price is at the upper band, 0 at the lower band, and 0.5 at the middle moving average. It turns band position into a single oscillator that can be compared over time and across symbols.
Typeoscillatorseparate pane
How to add it
Click Indicators (ƒx) in the header.
Search “Bollinger Bands %B” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- %B above 1 means price has closed outside the upper band (strength or overbought); below 0 means outside the lower band (weakness or oversold).
- In ranges, fade extremes: buy %B turning up from near 0 and sell %B turning down from near 1, ideally at support/resistance.
- In trends, use 0.5 as the pullback line: uptrends tend to hold %B above roughly 0.5, and dips toward it are buying zones.
- Divergence is powerful: price making a lower low while %B makes a higher low (staying inside the band) is the classic W-bottom signal; the mirror M-top applies at highs.
- Pair with a volume or trend filter, since walking the band keeps %B pinned near 1 or 0 during strong moves.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length | number | 20 | 1–10000 |
| Mult | number | 2 | 0.001–50 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| %B | line | #22AB94 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 4 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Reference levels
| Level | Value |
|---|---|
| UpperLimit | 1 |
| LowerLimit | 0 |
Level values, colors and line styles are editable in settings.
Tips
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
Watch out for
- During band walks, %B stays extreme for long stretches, so treating >1 or <0 as an automatic fade loses money in trends.
- It inherits Bollinger assumptions: with default 20,2 settings, unusual volatility regimes distort what 'extreme' means.