//
// @author LazyBear
// List of all my indicators:
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
//
study(title="Custom Bollinger Bands Width [LazyBear]", shorttitle="CBBW_LB")
source = close
length = input(20, minval=1), mult = input(2.0, minval=0.001, maxval=50)
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
bbw = (upper-lower)/basis
overlayMode=input(false)
plot(not overlayMode ? bbw : na, color=blue)
threshold=input(0.045)
hline(threshold)
c=close<basis?red:green
bgcolor(bbw<=threshold?c:na)