The Namib FlowThis is an alert/notification system consisting of the building on the following existing indicators:
Hull Suite by InSilico
Follow Line Indicator by Dreadblitz
QQE MOD by Mihkel00
It is not my strategy - it is based on a video I watched.
It will give and alert/notification once the following conditions are aligned:
Bullish Alert
Hull Suite Line Fully Green
Follow Line Indicator Blue
QQE MOD Green
First Bullish Candle after the three indicators hit the conditions as described above.
Bearish Alert
Hull Suite Line Fully Red
Follow Line Indicator Red
QQE MOD Red
First Bearish Candle after the three indicators hit the conditions as described above.
Notes:
This alert system only works on the first three candles (bullish or bearish after the Hull Suite band color change) otherwise there would be too many candles.
The buy is at the close of the candle.
The SL is at the follow line indicator.
The TP is at a RRR of 1:2.
Comments appreciated.
Qqe
Modified QQE-ZigZag [Non Repaint During Candle Building]V V V V V V V Please Read V V V V V V V
I ask Peter and he is fine, that im published this script
Tell me if you have some ideas or criticism about that sricpt
>>>>>>>>>> This is a modified Version of Peter_O's Momentum Based ZigZag <<<<<<<<<<<
This is only a test, and i want to share it with the community
It works like other ZigZags
Because Peters_O's original Version is only non repaint on closed historical Data ,
during a Candle building process it can still repaint (signal appears / 21 seconds later signal disapears / 42 seconds later signal appears again in the same candle / etc.),
but that isnt important for backtesting, its only important for realtime PivotPoints during a candle.
My goal for this zigzag was to make it absolute non repaint neither during a candle building process (current candle),
so once the signal is shown there is no chance that it disapers and shown a few seconds later again on that same candle, it can only show up one time per candle an thats it,
and that makes it absolute non repaint in all time frames.
Credits to:
==> Thanks to @glaz , for bringing the QQE to Tradingview <3
==> Thanks to @Peter_O , for sharing his idea to use the QQE as base for a Zigzag
and for sharing his MTF RSI with the Community <3
Changes:
- I changed the MTF RSI a little bit, you can choose between two version
- I changed the QQE a little bit, its now using the MTF RSI , and its using High and Low values as Source to make it absolute non repaint during a candle is building
- I added a little Divergence Calculation beween price and the MTF RSI that is used for the ZigZag
Colors :
- Green for HH / HL Continuation
- Red for LL / LH Continuation
- Yellow for Positive Divergence
- Purple for Negative Divergence
Important:
It is not possible to backtest this script correctly with historical Data, its only possible in Realtime,
because the QQE is using crossunders with RSILowSource and the QQE Line to find the Tops and,
because the QQE is using crossovers with RSIHighSource and the QQE Line to find the Bottoms,
and that means it is not possible to find the correct Time/Moment when that crossovers / crossunders happens in historical Data
=============> So please be sure you understand the Calculation and Backtest it in Realtime when you want to use it,
because i didn't published this script for real trading
=============> Im not a financial advisor and youre using this script at your own risk
=============> Please do your own research
ATR Bands with QQE [LM]Hello traders,
I would like to present you ATR Bands with QQE. This indicator is different than my other indicators I used QQE oscillator as an entry indicator, and atr bands I have used as an exit indicator.
You can see 2 set of bands with different multiplicator, first is used as first target profit, stop loss and second as a second target
There are two modes that takes, first is static mode that gives you lines with 1st, 2nd target profit and in red color stop loss.
Second mode has static first target and trailing stop loss
Settings:
Genreal settings - basic setting of source for atr bands, line settings,
First atr bands setting
Second atr bands setting
QQE settings
Cheers,
Lukas
Momentum-based ZigZag (incl. QQE) NON-REPAINTINGI spent a lot of time searching for the best ZigZag indicator. Difficulty with all of them is that they are always betting on some pre-defined rules which identify or confirm pivot points. Usually it is time factor - pivot point gets confirmed after a particular number of candles. This methodology is probably the best when market is moving relatively slow, but when price starts chopping up and down, there is no way the ZigZag follows accurately. On the other hand if you set it too tight (for example pivot confirmation after only 2 or even 1 candle), you will get hundreds of zigzag lines and they will tell you nothing.
My point of view is to follow the market. If it has reversed, then it has reversed, and there is no need to wait pre-defined number of candles for the confirmation. Such reversals will always be visible on momentum indicators, such as the most popular MACD. But a single-line moving average can be also good enough to notice reversals. Or my favourite one - QQE, which I borrowed (and improved) from JustUncleL, who borrowed it from Glaz, who borrowed it from... I don't even know where Quantitative Qualitative Estimation originates from. Thanks to all these guys for their input and code.
So whichever momentum indicator you choose - yes, there is a pick-your-poison-type selector as in in-famous Moving Average indicators - once it reverses, a highest (or lowest) point from the impulse is caught and ZigZag gets printed.
One thing I need to emphasize. This indicator DOES NOT REPAINT. It might look like the lines are a bit delayed, especially when compared to all the other ZigZag indicators on TradingView, but they are actually TRUE. There is a value in this - my indicator prints pivot points and Zigzag exactly on the moment they have been noticed, not earlier faking to be faster than they could be.
As a bonus, the indicator marks which impulse had strength in it. It is very nice to see a progressing impulse, but without force - a very likely that reversal on a bigger move is happening.
I'm about to publish some more scripts based on this ZigZag algo, so follow me on TradingView to get notified.
Enjoy!
QQEMoMoTV█ OVERVIEW
This plots the QQE (Quantitive Qualitative Estimation)
with the addition of labels to show areas to watch out for and a colored cloud to show Green Upwards or Red Downwards Momentum
The QQE indicator is based on Wilder's RSI, which is based on a smoothed RSI comparing the change (delta Δ) between between bars
to compute the FastTL and SlowTL depending on the RSI Period, Slow Factor and QQE settings selected
As this works similarly to the RSI, it provides areas of overbought and oversold, and a cross at 50 for more bullish or more bearish
The FastTL and SlowTL crossovers works similarly to the crossover of a fast and slow moving average which can indicate bullish or bearish
When the SlowTL crosses above the FastTL a Green cloud indicating upwards momentum is drawn and vice versa when FastTL crosses above SlowTL
Bullish signals generated when Blue line crosses above Orange line, or Green MoMo cloud, Uptrend
Bearish signals generated when Orange line crosses above Blue line, or Red MoMo cloud, Downtrend
QQE Areas of interest:
Oversold: QQE < 33, Overbought: QQE > 67
Cross at 50: QQE crossing 50, this is an area that is between more bullish >50 and more bearish <50 zones
Note: as 50 is the switch between more bullish or more bearish zones , it is common to watch out for Support/Resistance Tests at this level
Tip: when QQE appears to be flat, this indicates a flat trend, this can commonly happen around the 50 zone when direction is relatively undecided, see the image below for an example
Very Overbought: QQE > 90, Careful! Watch out! QQE is showing very overbought and is generally a good area to take profit as others may sell soon too
QQE Fast settings: gives earlier signals, but also gives more shorter term signals
RSI_Period = 6, Slow_Factor = 3, QQE = 2.621
QQE Slow settings: gives more reliable signals, but sometimes a little late, best to use both fast and slow together for confirmation of the trend
RSI_Period = 20, Slow_Factor = 5, QQE = 4.236
You can add the QQEMoMoTV indicator to your chart twice and change one of them to the Fast settings and one of them to the Slow settings.
By comparing the QQEMoMoTV Fast and QQEMoMoTV Slow together you can get a better idea of the overall trend.
To best determine if this is a entry point or a trend reversal, it is recommended to use in conjunction with the MashumeHullTV indicator
█ FEATURES
Calculations
Calculates the change (delta Δ) between between bars based on Wilder's smoothed RSI to compute the FastTL (Orange) and SlowTL (Blue) lines
These are dependent on the QQE Fast settings or QQE Slow settings from the input RSI Period, Slow Factor and QQE selected
Labels are shown when QQE crosses areas of interest on the chart as Label text and shown with white dots on the QQEMoMoTV indicator
Inputs
You can use the script's inputs to configure:
• Calculation Source (default close)
• RSI Period (default 20)
• Slow Factor (default 5)
• QQE (default 4.236)
• Whether to show Green/Red MoMo Cloud
• Whether to show the QQE Label
• Style and Position of the QQELabel (default None)
None is selected as default to take up least space for optimal viewing when on Tradingview mobile, but you are free to change the style however you like
Alerts
Buy Signal alert based on rsi_ma crossing above FastAtrRsiTL, when Blue Line Cross above Orange Line, Green MoMo Cloud, Bullish
Sell Signal alert based on FastAtrRsiTL crossing above rsi_ma, when Orange Line Cross above Blue Line, Red MoMo Cloud, Bearish
█ CREDITS
Original Author: greyghost7
Feature upgrades and usage: Xiuying
Converted to Tradingview by: Machdragon
The Bayesian Q OscillatorFirst of all the biggest thanks to @tista and @KivancOzbilgic for publishing their open source public indicators Bayesian BBSMA + nQQE Oscillator. And a mighty round of applause for @MarkBench for once again being my superhero pinescript guy that puts these awesome combination Ideas and ES stradegies in my head together. Now let me go ahead and explain what we have here.
I am gonna call it the Bayesian Q Oscillator I suppose. The goal of the script is to solve an issue both indicators on their own suffer from. QQE signals are not new and often the problem has always been false signals for them. They are good for scalping but the difference between a quality move and a small to nearly nonexistent move following a signal is not so clear. Kivanc made his normalized version to help reduce this problem by adding colors to his histogram type verision that would essentially represent if price was a trending move or in a ranging structure. As you can see I have kept this Idea but instead opted for lines as the oscillator. two yellow line (default color) is a ranging sideways area and when there is red or green it is trending up or down. I wanted to take this to the next level with combining the Bayesian probability oscillator that tista put together.
The Bayesian indicator is the opposite for its issue as it is a probability indicator that shows which candle or price movement is more likely to come next. Red rising means possibly down move soon and green means up soon. I will not go into the complex details of this indicator but will suggest others take a look at his and others to understand the idea behind them. The point I am driving at is that it show probabilities or likelyhood without the most effecient signal device to match it. This original was line form and now it is background filled colors.
The idea. is that you can potentially get some stronger and more accurate reversal signals with these two paired together. when you see a sell signal or cross with the towering or rising red... maybe it is a good jump potentially. The same for green. At the same time it is a double added filter effect from just having yellow represent it is ranging... but now if you get a buy signal (example) and have yellow lines (example) along wi5h a red rising or mountain color background... it not only is an indication of ranging, but also that there is potentially even a counter move coming based on the probabilities. Also if you get into a good trade and see dual yellow qqe crosses with no color represented by the bayesian background... it is possible it might only be noise.
I have found them to work decently in the 1 hour timframe. Let me know your experience.
I hope everyone takes a look at the originals to understand them. Full credit goes to those guys for this to be here. Let me know how it is working out for you.
Here are the original links.
bayesian
Normalized QQE
Matrix Series and Vix Fix with VWAP CCI and QQE SignalsBased on @ChrisMoody Williams_VIX_Fix and @glaz Matrix Series .
This indicator identify potential zone of reversal according to momentum and volatility.
Includes VWAP CCI and QQE Signals.
Normalized Quantitative Qualitative Estimation nQQENormalized version of Quantitative Qualitative Estimation QQE:
Normalized QQE tries to overcome the problems of false signals due to RSI divergences on the original QQE indicator.
The main purpose is to determine and ride the trend as far as possible.
So users can identify:
UPTREND : when nQQE Histogram is GREEN (nQQE is above 10)
DOWNTREND : when nQQE Histogram is RED (nQQE is below -10)
SIDEWAYS: when nQQE Histogram is YELLOW (nQQE is between -10 and 10)
Calculation is very simple;
RSI based QQE oscillates between 0-100
nQQE is simply calculated as:
nQQE=QQE-50
to make the indicator fluctuate around 0 level to get more accurate signals.
Various alarms added.
Kıvanç Özbilgiç
Quantitative Qualitative Estimation QQE
The QQE indicator is a momentum based indicator to determine trend and sideways.
The Qualitative Quantitative Estimation (QQE) indicator works like a smoother version of the popular Relative Strength Index (RSI) indicator. QQE expands on RSI by adding two volatility based trailing stop lines. These trailing stop lines are composed of a fast and a slow moving Average True Range (ATR). These ATR lines are smoothed making this indicator less susceptible to short term volatility.
The most common method of using QQE is to look for crosses of the fast and slow moving trailing stop lines during periods when the QQE line reflects overbought or oversold conditions
Qualitative Quantitative Estimation made up of a smoothed Relative Strength Index (RSI) indicator plus fast and slow volatility-based trailing levels.
Qualitative Quantitative Estimation can be used in two directions:
1.Determine the trend, i.e. if the line is above the 50 level, the trend is ascending, if below - descending;
2.Search for signals at the moment of crossing of the QQE FAST (maroon) and QQE SLOW (blue) lines.
The QQE itself is generally considered to indicate an up-trend ifQQE FAST is above QQE SLOW, and a down-trend if below QQE SLOW.
Often a middle-range between 40 and 60 is set and if the indicator is in that range, then the market is considered to be tracking sideways, or in no trend.
You will need to set only one parameter – “SF” "RSI SMoothing Factor", an analogue of the period in RSI.
By the way, judging from the open source information, the algorithm used the standard strength index with a period of 14 for calculations.
Various signals can be created from the indicator such as:
-Buy when QQE FAST crosses above QQE SLOW below 50 level or just buy when QQE lines crosses above 50 level.
-Sell when QQE FAST crosses below QQE SLOW above 50 level or just sell when QQE lines crosses below 50 level.
WARNING: QQE IS A RSI BASED INDICATOR SO THAT IT CAN TRIGGER FALSE SIGNALS DURING DIVERGENCES!
Kıvanç Özbilgiç
Multi StrategyDuring the course of a trade, we can find ourselves changing strategies depending on the market. Instead of using many different templates, I have a simple indicator that clearly says "Buy", "Sell" or "Stay Out". The great thing about this approach, is we instantly observe the majority are in agreement and that decides which way to place our trade.
This indicator includes the following strategies:
- QQE
- Ichimoku using much faster settings.
- Parabolic SAR
- Supertrend
- TTM Oscillator
- The Squeeze strategy
- The Alligator Strategy
Using this indicator is simple, if the lines are mainly green then buy, if mainly red then sell OR don't trade. So...
Green Line - This strategy is in a buy position
Orange or Black Line - This strategy is undecided
Red Line - This strategy is in a sell position
There are also some green and red circles for reference that appear showing when that bar has broken through the Ichimoku cloud.
The trader's approach is simple, when all indicators are green or red, then take the trade. As soon as one indicator changes, then re-evaluate using your normal process, such as price action, to determine whether to close the trade or continue.
I can customise this further or add other strategies, please message me.
QQE signalsConverted the QQE oscillator to in-chart long and short signals with built in alerts. This is multi-timeframe and quite robust.
Trend Follower - Light Mode | jhFollow up script for my Trend Follower script.
I'm used to dark mode, so I coded a few key plots in white, so those are changed into black on the script.
Notably:
- > 1 ATR in black dots along the baseline
- Current and previous ATR text labels to the right of the price
- A text label spacing input that allows you to adjust the spacing for text label from price.
This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.
1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- www.tradingview.com
- Alex Grover - Modular Filter
-------
That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.
2. Volume/Volatility, I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
-------
My modification and other info here
- Absolute Strength Histogram v2
-------
I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness
3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
-------
Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.
Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
-------
ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
-------
The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR
Trend Follower | jhThis is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.
1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- www.tradingview.com
- Alex Grover - Modular Filter
-------
That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.
2. Volume/Volatility, I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
-------
My modification and other info here
- Absolute Strength Histogram v2
-------
I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness
3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
-------
Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.
Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
-------
ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
-------
The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR
Adding my Didi and ASH indicators up on this screenshot
Didi Index Improved with QQE
QQE Trailing Line for Trailing Stop | jhUsing parts of QQE (Qualitative Quantitative Estimation) again, this time I'm applying the trailing line of QQE on price directly.
Outcome, it's behaving like a baseline filter and it can be use as an exit or a trailing stop indicator.
As comparing to Kijun-sen line in yellow, the QQE trailing line follows the price closer, therefore exiting you sooner when the trend direction changes.
There's 2 QQE option, they behave differently during the trend change.
Credits to Glaz and Shizaru for their QQE code.
Didi Index Improved with QQE | jhI was perplexed by the lack of continuation signals in trends, so I spent some time looking for a suitable indicator just for that purpose and fast indicators that can provide continuation signals tend to be too noisy as well.
I'm always intrigued by QQE (Qualitative Quantitative Estimation), so I QQE-ed almost everything I encountered.
After a while, I settled on Didi Index and enhanced it by adding an additional signal line calculated from QQE trailing line. The QQE trailing line provides additional cross overs for the short/fast Didi line, specially created for the NNFX continuation signals in the same direction.
The QQE trailing line acts as zero cross, providing an additional filter for ranging periods.
There's a few ways of identifying the cross overs:
Didi cross overs signals are highlighted with shapes at the top.
Didi long signal when fast and slow Didi crosses above zero
Didi short signal when fast and slow Didi crosses below zero
Continuation signals are highlighted with shapes at the bottom.
Continuation long signal when Didi fast line cross over QQE trailing line
Continuation short signal when Didi fast line cross under QQE trailing line
Example of continuation trades
Example of filtering bad signals from your baseline, confirmation or continuation signals.
Credits to Glaz and Shizaru for their QQE code.
[Backtest]QQE Cross v6.0 by JustUncleLDescription:
This is the Backtest version of the " QQE Cross v6.0 by JustUncleL" Tool, can be used to optimize settings.
[Alerts]QQE Cross v6.0 by JustUncleLDescription:
This is a major upgrade of my original QQE indicator Tool, this version is directed at Forex and Crypto Margin trading. This version can also be used with AutoView/ProfitView Chrome add-on in a semi-automatic (turn on only when conditions are favorable) or automatic way, with Signal to Signal or Signal to Close trading.
This is a Trend following indicator that uses fast QQE crosses to capture swings in direction of the main Trend. Alerts are filtered with Two Moving Average Ribbons and/or Direction of MAs. The QQE or Qualitative Quantitative Estimation is based on the relative strength index (RSI), but uses a smoothing technique as an additional transformation. Three crosses can be selected (all selected by default):
Smooth RSI signal crossing ZERO (XZ)
Smooth RSI signal crossing Fast QQE line (XQ), this is like an early warning swing signal.
Smooth RSI signal exiting the RSI Threshhold Channel (XC), this is like a confirmed swing signal. An optimal Smooth RSI threshold level is between 5% and 10% (default=10), it helps reduce the false swings.
These signals can be selected to Open Short/Long and/or Close a trade, default is XC open trade and XQ (or opposite open) to Close trade.
The (LONG/SHORT) alerts can be optionally filtered by the Moving Average Ribbons:
For LONG alert the Close must be above the fast MA Ribbon and fast MA Ribbon must be above the slow MA Ribbon.
For SHORT alert the Close must be below the fast MA Ribbon and fast MA Ribbon must be below the slow MA Ribbon.
and/or directional filter:
For LONG alert the Close must be above the medium MA and the directional of both MA ribbons must be Bullish.
For SELL alert the Close must be below the medium MA and the directional of both MA ribbons must be Bearish.
This indicator is designed to be used as a Signal to Signal trading BOT in automatic or semi-automatic way (start and stop when conditions are suitable).
For LONG and SHORT alerts I recommend you use "Once per Bar" alarm option
For CLOSE alerts I recommend you use "Once per Bar Close" alarm option
(* The script has been designed so that long/short signals come at start of candles *)
(* and close signals come at the end of candles *)
DVDIQQE [DW]This is an experimental study inspired by the Quantitative Qualitative Estimation indicator designed to identify trend and wave activity.
In this study, rather than using RSI for the calculation, the Dual Volume Divergence Index oscillator is utilized.
First, the DVDI oscillator is calculated by taking the difference between PVI and its EMA, and NVI and its EMA, then taking the difference between the two results.
Optional parameters for DVDI calculation are included within this script:
- An option to use tick volume rather than real volume for the volume source
- An option to use cumulative data, which sums the movements of the oscillator from the beginning to the end of TradingView's maximum window to give a more broad picture of market sentiment
Next, two trailing levels are calculated using the average true range of the oscillator. The levels are then used to determine wave direction.
Lastly, rather than using 0 as the center line, it is instead calculated by taking a cumulative average of the oscillator.
Custom bar colors are included.
Note: For charts that have no real volume component, use tick volume as the volume source.
[STRATEGY][UL]QQE Cross v1.1Updated by request: this is a "Strategy" trading version of the "QQE Cross Indicator Alert v2.0 by JustUncleL" (which is mainly for Binary Options trading), the same BUY/SELL signals are used to generate trade entry and exit conditions. Thanks again to JayRogers for making the Strategy risk management easier to understand and implement.
In this update I have added "Take Profit" option and cleaned up the risk management code. Also changed the close BUY/SELL order if EMA20 direction changes rather the next BUY/SELL opposite signal, making the close earlier.
BE ADVISED TO USE AT YOUR OWN RISK, even though back testing has shown good results, I don't have any Forex trading account to forward test against. You need to perform these test yourself and get back to me if there is any issues.
QQE Cross Indicator Alert v2.0 by JustUncleLThis version of the indicator makes a distinction between the types of QQE cross alerts on the chart and now only recommends the Thresh Hold channel exit crosses for BUY/SELL alerts, the other two types of crosses are still there to provide pre-warning of pending BUY/SELL alerts. Also only the BUY/SELL alerts are filtered by Moving Average Filter and/or the new Directional filter (default). The default settings in this version have also been changed, particularly the Moving Averages, to indicate trend changes quicker.
Indicator Project Description:
*** This is a trend following indicator alert that uses fast QQE crosses with Moving Averages for trend direction filtering. QQE or Qualitative Quantitative Estimation is based on the relative strength index, but uses a smoothing technique as an additional transformation. Three crosses can be selected (all selected by default):
RSI signal crossing ZERO (XZERO)
RSI signal crossing Fast RSIatr line (XQQE)
RSI signal exiting the RSI Threshhold Channel (BUY/SELL)
The (BUY/SELL) alerts can be optionally filtered by the Moving Average Combo:
For BUY alert the Close must be above the fast MA and
fast MA (EMA8) > medium MA (EMA20) > slow MA (SMA50).
For SELL alert the Close must be below the fast MA and
fast MA (EMA8) < medium MA (EMA20) < slow MA (SMA50).
and/or Directional filter (default filter):
For BUY alert the Close must be above the slow MA (SMA50) and the directional MA (EMA20) must be green.
For SELL alert the Close must be below the slow MA (SMA50) and the directional MA (EMA20) must be red.
The XZERO and XQQE are not included in the filtering, they are used to indicate pending BUY/SELL alerts, particularly the XZERO.
Note: I have found the XQQE cross can also be quite good alert for BUY/SELL as well, particularly in direction of current trend. The XZERO I have found to be totally unreliable for BUY/SELL alerts.
This indicator should work on any currency pair, most chart timeframes and expiry in 3 to 6 candles for binary option trading. For hourly or longer charts expiry can be longer for binary options, or if available use standard forex trading techniques
Some Hints for using this indicator:
Avoid taking trades in non-trending market, this is normally indicated by a near Horizontal SMA50 line.
Avoid trading when all the moving averages are close together.
When trading 1min and 5min charts, expiry should set to 1-3 candles.
Avoid trading when market choppy, this is normally indicated by the fast EMA8 crossing the EMA20 back and forwards quickly.
High probability trades tend to occur when you get a XQQE followed by a XZERO and then BUY/SELL in the same direction of trend.
Don't trade near nor directly on any major market news (sometime better no trade day).
Please practise this system in DEMO first, before committing any real money. Be patient the more you practise the better and more confident you will be.
I hope you enjoy this indicator, it has proven very effective for me.
QQE MT4 Glaz-modified by JustUncleLThis version of the original indicator by Glaz, is just some minor modifications to match the requirements of my "QQE Cross Indicator Alert". The QQE indicator is not a new idea it has been around for a while, there are a number of articles available on the internet explaining the QQE indicator.
