Three Bollinger oscillators
Bollinger bands are a well known trader tool. The Bollinger oscillators are based on the Bollinger bands. They try to identify a change of direction in the market.
There are three variations of the Bollinger oscillator. These variations are fairly similar.
The Bollinger oscillator close uses the close price to calculate the indicator.
The Bollinger oscillator type uses the typical price (equals the pivot point) to calculate the indicator.
The Bollinger oscillator weight uses the weighted close price [high + low + (close * 2)] to calculate the indicator.
This example shows the Bollinger oscillator close indicator.