Bollinger Bands Width with Squeeze Alert

This is the standard Bollinger Bands Width (BBW) indicator with the added capability of detecting the "Bollinger Bands Squeeze" as defined by John Bollinger:

The BBW squeeze happens when BBW < all BBWs of the past 125 intervals.

Whenever a BBW squeeze occurs, this means there is low volatility.

A low volatility period is almost always followed by high volatility: a large breakout (with price performing ample movement and exiting the BBW bands) may suddenly occur.

The breakout may be preceded by a fakeout, during which price moves in the opposite direction.