Bollinger Bands Explained | 布林带解释

Bollinger Bands consist of three lines: middle (20-period SMA), upper (SMA + 2 standard deviations), and lower (SMA - 2 standard deviations). Band width expands and contracts with volatility. The indicator was created by John Bollinger in the 1980s. 布林带由三条线组成：中轨（20期SMA）、上轨和下轨。带宽随波动率扩展和收缩。

The Squeeze | 布林带 squeeze

When bands contract to their narrowest range, it signals low volatility and an impending expansion — the squeeze. A breakout from the squeeze often leads to significant directional movement. Combine with volume and momentum indicators to identify breakout direction. 当布林带收缩到最窄范围时，表示低波动率和即将到来的扩张。突破往往导致显著的方向性波动。

Band Walk | 带宽行走

In strong trends, price walks along the upper or lower band. A walk along the upper band confirms strong bullish momentum — don't short because price seems high. A walk along the lower band confirms bearish momentum. Band walks continue until the trend exhausts. 在强劲趋势中，价格沿上轨或下轨行走。沿上轨行走确认强劲的看涨动量。

Reversion to Mean | 均值回归

When price touches the upper band with overextended RSI (>70), it's likely to revert to the middle band. When touching the lower band with RSI <30, expect bounce to middle. This works best in ranging markets. Always check for strong trends first — trends override mean reversion. 当价格触及上轨且RSI超实时，可能回归中轨。在震荡市场中效果最佳。趋势总是优先于均值回归。

%B Indicator | %B指标

%B measures price position within the bands: (Price - Lower) / (Upper - Lower). %B > 1 = above upper band (overextended). %B < 0 = below lower band (oversold). %B = 0.5 at middle band. Combine %B with RSI for high-probability reversal and continuation signals. %B衡量价格在布林带内的位置。结合RSI使用可获得高概率反转和持续信号。