GME BB Indicator is based on Bollinger Bands.
Bollinger Bands is a versatile tool combining moving averages and standard deviations and is one of the most popular technical analysis tools available for traders.
There are three components to the Bollinger Bands indicator:
- Moving Average: By default, a 20-period simple moving average is used.
- Upper Band: The upper band is usually 2 standard deviations (calculated from 20-periods of closing data) above the moving average.
- Lower Band: The lower band is usually 2 standard deviations below the moving average.
Blue Dot means that the market price has touched the Upper Band = Up trend. Red Dot means that the market price has touched the Lower Band = Down trend.