This tool combines the original Bands with Bollinger Bandwidth and removes the extra window for Bollinger Bandwidth. Instead Bandwidth is now a value in text object in the top left corner. This makes more efficient use of the chart space and still allows you to see the value of the bollinger bandwidth in a single location. Because this is combined with Bands, it will still create a bollinger band lines on your chart.
An investigation of the Bollinger band has shown that when the bandwidth (distance between the top and bottom bands) is below 4, the market is compressed and about to break out. When the bandwidth reaches 11, there is a strong wave for scalp trading. BeIndicator Strength
Basic indicator that displays the strength of a move, based either on either moving averages, MACD, or stochastics.