What are the Bollinger Bands?

Invented by John Bollinger, Bollinger Bands are envelopes plotted at a standard deviation level above and below a simple moving average of the price. Because the distance of the bands is based on standard deviation, they adjust to volatility swings in the underlying price. Bollinger Bands use 2 parameters, Period and Standard Deviations, StdDev.
The bands automatically widen when volatility increases and contract when volatility decreases.
There are multiple uses for Bollinger Bands, including using them for overbought and oversold trade signals.

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