I did display as per my way,can be wrong,but seems so much impressive ,just needs your favor in 2 features addition,a bit smoothing and a option change sloping colors at zero cross.
One more modification (made to oscillate around the 0 value - normalization is, roughly in the the -dev/2 to +dev/2 range, so it makes it "predictable" and usable as a bound indicator)
As of smoothness : I am afraid that it will not be smoother. That line is supposed to show price relative to bands, and it can not be smoother (then it would be completely deformed and would nt show anything close to reality). We shall have to skip the smoothing for this indicator
This is Raghee Horners GRaB candles indicator that is made to adjust itself to chart display (as bars, candles or lines)
Decided to give it a shot (added smoothing)
It should not be compared to the original bollinger bands - smoothing deviates the value from it, but it makes less false signals
So much thanks for adding smooth factor,working and effecting well,as seen in the given picture,just requesting/hoping for coloring options ,zero cross and or upper line cross towards down(sell color) and lower line cross towards up (buy color)
Coloring options added to bollinger bands oscillator
So many thanks for adding coloring options,working well and seems cooperating :)
i tried enough to beat wave trend osci with bb osci by every possible style and experimenting,but still wave trend performing well comparatively,just needs your special kind for it (wave trend oscillator) for adding smoothing feature.
Some more fooling around : very simple way of making a "background" in some display types. Applied to Schaff trend cycle this time
And this version (where the indicator automatically adjust the shade of the fill depending on your choice of colors for the line and shade settings)
It looks like you turned mt4 in mt5 with you visual effect experiments :)