Originally created for VT Trader, Quantitative Qualitative Estimation (or simply QQE) is an interesting indicator that uses a lot of moving average based smoothing on the standard RSI indicator. Although the calculation of the indicator is rather complex, the result is quite easy to use. I’ve used the MQL4 code by Roman Ignatov and Tim Hyder (the author of the alerts for the indicator) as the base for the MT5 version of QQE. The MT4 version was left intact. MT5 version’s features include:

• Detailed description for the traders.
• Better code structure.
• Faster execution (“onArray” functions are executed only on those timeseries that are really needed).
• Some junk code removed.

You can get the code of the MT5 and MT4 versions or read more info about this buy and sell RSI indicator.

If you find any bugs in this MetaTrader indicator or if you want to make a suggestion regarding its functionality, please, use the commentary form below.