Bollinger Bands %B is a technical indicator that measures the position of the current price relative to the upper and lower Bollinger Bands. It is calculated by dividing the difference between the price and the lower band by the difference between the upper and lower bands.

%B values above 1 indicate that the price is above the upper band, while values below 0 suggest that the price is below the lower band. Traders use %B to assess overbought and oversold conditions, as well as to spot potential divergences between price and indicator. By incorporating Bollinger Bands %B into their analysis, traders gain insights into the price's position within the Bollinger Bands and can make more informed trading decisions.