QQE Quantitative Qualitative Estimation MT5 - MetaTrader 5 Script | Forex Indicator Download - MetaTrader 5 Resources

QQE MetaTrader indicator — or quantitative-qualitative estimate, based on a rather complex calculation of the smoothed RSI indicator. Therefore, you will see two lines - fast and slow - in separate indicator windows. There is also an important indicator level (50), used for signals. You can enable text, sound, and email alerts for this indicator. This QQE implementation supports Multiple time frame analysis Has upper time frame display. This indicator is suitable for MT4 and MT5

version presented QQE indicator It's free and open source. You can easily download and install it on your trading platform.

this QQE indicator is an oscillator that can be used for direct signaling or Divergent analysis. It has two types of signals: two lines crossing each other and a blue line crossing horizontally. When the blue line crosses the yellow line from above, it is a sell signal. When the blue line crosses the yellow line from below, it is a buy signal. When the blue line crosses a given level from above, it is a sell signal. When the blue line crosses a given level from below, it is a buy signal.

The example below shows an hourly chart of EUR/USD, where the QQE instance uses 4-hour chart data to draw the lines. The two red arrows show two bearish signals - the first signal is generated by the crossing of the line and the second signal is generated by the blue line crossing the 50 level.

Attachment download

📎 qqe.mq5 (14.84 KB)

Source: MQL5 #55498