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 # %B
 
+The %B indicator is based on the position of price relative to the Bollinger Bands.
+
+It is calculated as follows:
+
+```
+%B = (Price - Lower Band) / (Upper Band - Lower Band)
+```
+
+Example values and positions relative to Bollinger Bands:
+
+* **%B = 1**: The price is exactly at the upper band.
+* **%B = 0**: The price is exactly at the lower band.
+* **%B = 0.5**: The price is at the midpoint between the bands (the moving average).
+* **%B > 1**: The price is above the upper band.
+* **%B < 0**: The price is below the lower band.
+
 ## Strategies
 
 The [%B strategy](https://moshferatu.dev/moshferatu/ninjatrader/src/branch/main/strategies/%25b) taken from [*High Probability ETF Trading*](https://moshferatu.dev/moshferatu/high-probability-etf-trading) (2009) by Larry Connors is based on this indicator.