Bollinger Bands %B (BBands %B)

Overview

%B is an indicator derived from Bollinger Bands. In his book, Bollinger on Bollinger Bands, John Bollinger refers to %B as one of two indicators that can be derived from Bollinger Bands. The other indicator is Bollinger Band width.

%B quantifies a security's price relative to the upper and lower Bollinger Band. There are six basic relationship levels:

Mathematical description of the indicator please see at: Mathematical Description of Technical Indicators

to top

Adding indicator

To add any indicator to the chart, you need to use Data Provider with the fields required by the indicator. When such Data Provider is ready - you can add indicator to the chart.

Preparing Data Provider

BBands %B indicator needs Data Provider with Close or Value fields.

Sample XML of Data Provider, which can be used to create BBands %B indicator:

XML/JSON Syntax
Plain code
01 <data_providers>
02   <general_data_providers>
03     <data_provider data_set="dataSet1" id="dpMsft">
04       <fields>
05         <field type="Close" column="4" approximation_type="Close" />
06       </fields>
07     </data_provider>
08   </general_data_providers>
09 </data_providers>
01{
02  generalDataProviders: [
03    {
04      dataSet: "dataSet1",
05      id: "dpMsft",
06      fields: [
07        {
08          type: "Close",
09          column: 4,
10          approximationType: "Close"
11        }
12      ]
13    }
14  ]
15}

to top

Indicator Declaration

As soon as Data Provider is ready you can add an indicator to a chart.

Unlike BBands themselves - BBands %B indicator is usually shown on the chart below the chart with data (stock data). So we should declare it in another chart. Learn more about charts and layout in Chart Layout article.

XML for BBands %B declaration, note that there are two charts defined - one is used to show the stock data, and another one contains technical indicator:

XML/JSON Syntax
Plain code
01 <?xml version="1.0" encoding="UTF-8"?>
02 <stock xmlns="http://anychart.com/products/stock/schemas/1.9.0/schema.xsd">
03   <settings>
04     <charts>
05       <chart>
06         <series_list>
07           <series type="Line" data_provider="dpMsft" />
08         </series_list>
09       </chart>
10       <chart>
11         <technical_indicators>
12           <technical_indicator type="BBandsB" data_provider="dpMsft" />
13         </technical_indicators>
14       </chart>
15     </charts>
16   </settings>
17 </stock>
01{
02  settings: {
03    charts: [
04      {
05        seriesList: [
06          {
07            type: "Line",
08            dataProvider: "dpMsft"
09          }
10        ]
11      },
12      {
13        technicalIndicators: [
14          {
15            type: "BBandsB",
16            dataProvider: "dpMsft"
17          }
18        ]
19      }
20    ]
21  }
22}

After all things mentioned above are done, you can create a chart with BBands %B indicator, see basic Live Sample with it below:

Live Sample:  Technical Indicators - Adding BBandsB Indicator

to top

Indicator parameters

Bollinger Bands %B has specific parameters - period and deviation. They are set in <bbands_b_indicator> node, where all settings for BBands %B indicator are set.

XML for setting BBands %B parameters:

XML/JSON Syntax
Plain code
01{
02  type: "BBandsB",
03  dataProvider: "dpMsft",
04  bbandsBIndicator: {
05    period: 80,
06    deviation: 5
07  }
08}

Live sample below shows BBandsB(80,5):

Live Sample:  Technical Indicators - BBandsB Parameters

to top

Visualization

To visualize and tune visualization of technical indicators AnyChart Stock Component uses the same methods as for the data series.

By default BBands %B is shown as series of Line type, but you can use almost any of available series types to show it on the chart - Spline, Area or Stick, for example.

BBands %B indicator settings are contained in <bbands_b_indicator> node, also in this node you can put <series> subnode - this node defines how exactly indicator is displayed on the chart. This node is identical to <series> node used to describe data series, so you can do with indicator anything you can do with series.

Sample XML for changing indicator visualization:

XML/JSON Syntax
Plain code
01 <chart>
02   <technical_indicators>
03     <technical_indicator type="BBandsB" data_provider="dpMsft">
04       <bbands_b_indicator period="20" deviation="2">
05         <series type="Area" color="DarkRed">
06           <name><![CDATA[BBands %B(20,2):]]></name>
07           <area_series>
08             <fill color="%Color" opacity="0.2" />
09             <line thickness="2" color="%Color" opacity="1" />
10           </area_series>
11         </series>
12       </bbands_b_indicator>
13     </technical_indicator>
14   </technical_indicators>
15 </chart>
01{
02  technicalIndicators: [
03    {
04      type: "BBandsB",
05      dataProvider: "dpMsft",
06      bbandsBIndicator: {
07        period: 20,
08        deviation: 2,
09        series: {
10          type: "Area",
11          color: "DarkRed",
12          name: "BBands %B(20,2):",
13          areaSeries: {
14            fill: {
15              color: "%Color",
16              opacity: 0.2
17            },
18            line: {
19              thickness: 2,
20              color: "%Color",
21              opacity: 1
22            }
23          }
24        }
25      }
26    }
27  ]
28}

Live sample below shows settings shown above:

Live Sample:  Technical Indicators - BBandsB Visualization Settings

to top