Average %B
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Does anyone know of an indicator that functions like %b with an averaging of results to give a general price location?
In terms of Bollinger Bands, an example would be when price ranges back and forth across the middle band between the upper band and lower band or in a more narrow range from the upper 1st standard deviation to the lower 1st standard deviation. In both cases, the price would be averaging around 0.50, however %b will only give the specific locations of the price both above and below 0.50 rather than an average equating to 0.50. If an average is known, it can be informative in where to place a trailing stop. For instance, if price is going up along or beyond the upper band, a trailing stop may be set to be hit around the upper 1st standard deviation when price averages 0.875.
I've looked for an indicator like this to avoid reinventing the wheel but so far haven't been able to recognize anything that would be significantly like it.