Smart QQE Mod

2023年2月24日

Smart QQE - Chart Overlay
Smart QQE shows QQE Trend and RSI plot on chart to determine the trend direction and eliminate false signals.
QQE is obtained from original code by Glaz and rescaled to fit on chart. RSI 50 level acts as Zero which is plotted as a Bollinger on chart.
This is not a Bollinger band . its an RSI channel with levels 0-100 plotted around the mid band. The RSI Mid Band is calculated based on RSI value.

Trend:
Price above RSI Mid band is uptrend
Price below RSI Mid band is Down Trend

The Green line - Discount Zone - 0-RSI level - Oversold Zone
The Red Line - Premium Zone - 100 - RSI level - Overbought Zone

Buy / Sell signals
QQE Buy and Sell signals are plotted based on crossovers of RSI and Fast RSI crossovers.
QQE trend is colored based on the crossover.

Candle color:
candle color determines the Original QQE Trend.
Blue - QQE line above Threshold level in Buy Zone
Pink - QQE line below Threshold level in Sell Zone

Entries are to be made with proper confirmation.

HULL MA is provided as a MA Ribbon for additional confirmation. This MA can be changed to various forms Like EMA , SMA , WMA , HMA , RMA the open and close of the MA are plotted so it determines the exact Trend reversal of the price.

Credits to glaz QQE Threshold

2023年6月23日

版本注释

Added Alerts for long and short positions