The parameters are the same with the Bollinger Bands plus I added smoothing.
BandsPeriod - Period
BandsShift - Shift
BandsDeviations - Deviation from the main line
Slow - Smoothing
The indicator was developed on the basis of the book J. Bollinger. "Bollinger on Bollinger Bands"
The interpretation is simple. The line of the indicator shows the position of the price in relation to the Bollinger Bands. The outing of the indicator line out of 0 or 1 means the outing out of the lower and the upper bands respectively.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/8450