Hello,
These are 2 additions to Bollinger Bands indicator:
1. Bollinger Bands - Percentage (Line)
Formula: b% = ((close - lower band) / (upper band - lower band)) * 100
NOTE There is NEW version or %B indicator.
2. Bollinger Bands - Bandwidth (Histogram/Bar)
Formula: Bandwidth = ((upper band - lower band) / middle band)
These two and original Bollinger Bands from MarketScope, can be ran together for best effect.
Here is a screenshot of % and bandwidth running:
Buy/Sell signals (provided by fxcodebase.com user):
Buy Signal - Bollinger Percent = 0 (<0.1)
Sell Signal - Bollinger Percent = 1 (>0.9)
Detailed Description of Bollinger Bands can be found here at their official website:
http://www.bollingerbands.com/services/bb/