This script shows both the Bollinger Band Width(BBW) and %B on the same indicator window. Both the BBW and %B are introduced by John Bollinger(creator of Bollinger Bands) in 2010.
Bollinger Bands Width (BBW): Color = (Default: Green [#138484]) - I consider stocks with "BBW >= 4" are at a volatile state and ready for price contraction, but this depends on the parameter values of your choice.
Bollinger Bands %B (%B): Color = (Default: Blue [#62b6ee]) 1. %B Above 10 = Price is Above the Upper Band 2. %B Equal to 10 = Price is at the Upper Band 3. %B Above 5 = Price is Above the Middle Line 4. %B Below 5 = Price is Below the Middle Line 5. %B Equal to 0 = Price is at the Lower Band 6. %B Below 0 = Price is Below the Lower Band