Bollinger Bands, created by trader John Bollinger in 1983, are a popular tool extensively utilized in technical analysis. They offer valuable information to traders. Bollinger Bands incorporate moving averages and standard deviation to define a range of price fluctuations. When plotted on a trading chart, Bollinger Bands consist of a centerline based on a moving average, flanked by upper and lower bands calculated from standard deviation. These bands assist in detecting deviations from historical patterns and aid in identifying different market scenarios in real time.