Bollinger Band Oscillator v2 (Different between lower and upper)

📌 Description

Bollinger Band Width Oscillator with MACD-style Histogram

This indicator visualizes the Bollinger Band Width as a slope-colored line and adds a MACD-style histogram to highlight momentum shifts in volatility.

Features

BB Width Line: Measures the distance between the upper and lower Bollinger Bands. The line changes color based on slope:
• Green → expanding width
• Red → contracting width

Signal Line: A moving average of the BB Width for smoother analysis.

MACD-style Histogram: Plots the difference between the BB Width and the Signal line with 4 distinct colors:
• Above 0 & rising → #26A69A
• Above 0 & falling → #B2DFDB
• Below 0 & falling → #FF5252
• Below 0 & rising → #FFCDD2

How to Use

Identify squeeze phases (low width) which often precede strong breakouts.

Use the histogram like MACD momentum to see whether volatility expansion is accelerating or fading.

Combine with trend or price action signals for confirmation and better timing.