This is Bollinger Bands %b indicator for MetaTrader 5.
It is all about the relationship between price and the Upper and Lower Bands. There are six basic relationships that can be quantified.
In descending order from the Upper Band:
Generally speaking .80 and .20 are also relevant levels:
The indicator is designed to show how the seven major currencies have moved against the US dollar.CandleColorCounter
The indicator counts Bull and Bear candles in Bar_Period bars and calculates percent.
Yet Another Chaos Indicator.Inverted Chart View
The indicator shows inverted chart for better short trading.