Three Bollinger oscillators

Bollinger bands are a well known trader tool. The Bollinger oscillators are based on the Bollinger bands. They try to identify a change of direction in the market.

There are three variations of the Bollinger oscillator. These variations are fairly similar.

• The Bollinger oscillator close uses the close price to calculate the indicator.
  
• The Bollinger oscillator type uses the typical price (equals the pivot point) to calculate the indicator.
  
• The Bollinger oscillator weight uses the weighted close price [high + low + (close * 2)] to calculate the indicator.

 

This example shows the Bollinger oscillator close indicator.

 

This example shows the Bollinger oscillator type indicator.

 

This example shows the Bollinger oscillator weight indicator.