Bollinger Bands Height

The custom Bollinger Bands Height indicator measures and displays the current state of the Bollinger Bands indicator, showing whether the bands are widening (moving away from each other) or narrowing (starting to converge).

Contraction, indicated by the narrowing of the bands, suggests that the current market movement is losing momentum and hints at the potential start of a new strong movement. This can be a signal to look for an opportune moment to enter a position, as a sharp price change may be anticipated.

This indicator is most effective when used in conjunction with other trend-following indicators.