Volatility & Bandsdraws in its own pane

Bollinger position as a single number: 1 at the upper band, 0 at the lower, outside those when price escapes the bands.

On this chart: 20-period, 2σ — guides at 0 and 1.

%B collapses the Bollinger read into one series: where the close sits between the bands. 0.5 is the middle band; above 1 or below 0 means price has closed outside the bands entirely. It is the same information as the overlay, made plottable, comparable and history-friendly.

The pane makes band-relative divergence legible in a way the overlay cannot: price setting a lower low while %B sets a higher low means the second decline, measured in its own volatility, was actually shallower. Sustained %B above 1 is a band-walk — trend strength, not stretch.

%B near or below 0 on a quality name quantifies the stretched-pullback condition in one number — the same read the entry signals take from Bollinger position, visible here with its full history for judging how this name typically behaves at that reading.

Like everything in this guide, these are descriptions of conditions and reference levels — context for your own decisions, not instructions to trade.