The BollingerBandsĀ© indicator is a derivative from the standard Bollinger Bands. When the indicator displays peaks, you should wait for the reversal.
The formula for calculation of the indicator: BollingerBands [bar]=(close[bar]-UpperBB[bar])/(LowerBB[bar]-UpperBB[bar]).
Fig.1 The BollingerBandsĀ© indicator