Try to refer to community at https://www.mql5.com/en/forum

You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I need an oscillator on the bottom of my chart which gives a line-graph of the Band width (not a histogram as you can find on some websites, but a clear single black line) and
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
and Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
Basically all you need to do is adapt the Custom Indicator called "Bands" which comes with the software.
Standard settings work best: 20 period MA and 2 standard deviations.
The cool thing about it is that you'll more easily see volatility contractions and you can trade the Bollinger squeeze in a more visual way than when you're just using the bands instead of the bandwidth.
Thanks for the help !!
cfr: "Bollinger Bands BB"