Bollinger Bands %W

The Bollinger Bands %W is a technical indicator that measures the position of the current closing price relative to the upper and lower Bollinger Bands. The %W is calculated as ((Current Close – Lower Band) / (Upper Band – Lower Band)) * 100.

In trading bots like HaasOnline, the Bollinger Bands %W can be used as a signal to enter or exit a trade. Traders can set up the bot to buy when the %W crosses below a certain threshold (indicating that the price is oversold) and sell when the %W crosses above a certain threshold (indicating that the price is overbought).

Additionally, traders can use the Bollinger Bands %W to identify trends in the market. For example, if the %W remains consistently above 50, this may indicate that the market is in a bullish trend, while a %W consistently below 50 may indicate a bearish trend.

Overall, the Bollinger Bands %W can be a useful tool for traders to gauge the strength of a trend and determine potential entry and exit points for their trades.