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.
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.
Warning! If you do not know how to install this indicator, please read the MetaTrader Indicators Tutorial.
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.