Forex-Bollinger-Band-Width-Indicator
Watch the testing video here:
How do you use a Bollinger band width indicator?
The BandWidth indicator can be used to identify the Bollinger Band Squeeze. This alerts chartists to prepare for a move, but direction depends on the subsequent band break. A squeeze followed by a break above the upper band is bullish, while a squeeze followed by a break below the lower band is bearish.
However, Bollinger Bands have a moving average and outer bands that can act as a leading indicator, as they help to identify areas where the price may stall or reverse. ... That said, the bands can help to identify areas of dynamic support and resistance as the price moves.
