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QQE

QQE MetaTrader indicator — or Quantitative Qualitative Estimation, is based on a rather complex calculation of the smoothed RSI indicators. As a result we get 2 lines in a separate indicator window — fast and slow. There is also an important indicator level (50), which is used in signals. You can enable text, sound and e-mail alerts for this indicator. The indicator is available for both MT4 and MT5.

Input parameters:

  • SF (default = 5) — a smoothing factor.
  • AlertLevel (default = 50) — indicator level for alerts. It's not recommended to change it.
  • MsgAlerts (default = true) — if true, message alerts will appear.
  • SoundAlerts (default = true) — if true, sound alerts will be used.
  • SoundAlertFile (default = "alert.wav") — a file name of the sound of sound alert.
  • eMailAlerts (default = false) — if true, e-mail alerts will be sent according to the MetaTrader e-mail settings.

QQE Indicator Example MetaTrader Chart

In the original QQE indicator trading system, the signals are generated when the blue line crosses level 50 and when it crosses the yellow (dotted) line. But I recommend using the following signals for trading: go long when the blue line crosses yellow line from below while both are below level 50; go short when the blue line crosses yellow line from above while both are above level 50.

Downloads:

QQE for MetaTrader 4 in .zip

QQE for MetaTrader 4 in .mq4

QQE for MetaTrader 5 in .zip

QQE for MetaTrader 5 in .mq5

Discussion:

Warning! Before you ask any basic questions regarding installation of the indicators, please, read this MetaTrader 4 Indicators Tutorial or MetaTrader 5 Indicators Tutorial to get the elementary knowledge on handling them.

Do you have any suggestions or questions regarding this indicator? You can always discuss QQE with the other traders and MQL programmers on the indicators forums.



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