It can be seen as a kind of , where the bands stay the same size apart and price amplitude is modified between them,
or as a 'normalised' version of my BBC indicator.
Contrary to the popular use where price is seen as BOUNCING AGAINST the different deviations (or upper and lower BBands),
I tend to find that price likes to STICK to those deviations once it hits them (with a high or a low wick) and "rides them" for a while.
I call this "THE MAGNET EFFECT" of the standard deviations.
The indicator highlights those "MAGNET MOVES".
For most assets I like to use 50 period deviations better than the standard 20 period because it shows the bigger trends better
but of course this can be modified to your liking!
I build these indicators for myself and provide them open source, to use for free to use and improve upon,
as I believe the best way to learn is toghether.
-the BLUE line indicates (BBands) SQUEEZE setting in
-the ORANGE line indicates the EXPANSION of the BBands
-the highlighted YELLOW line indicates the RELEASE
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!