QQE indicator download for MetaTrader 5 - Free | Forex indicator download - MT4/MT5 resources

The Quantitative and Qualitative Estimation (QQE) indicator is an advanced tool for MetaTrader 5 . It is based on the Relative Strength Index (RSI) and is displayed on a separate chart from the price chart through smoothing techniques.

This trading tool utilizes Quantitative and Qualitative analysis to effectively identify and analyze trends and signals. Additionally, the tool can calculate divergence.

Indicator specification table

Indicator overview

The calculation of divergence of this indicator works as follows: if the QQE line oscillates below the zero line, but the price falls by a smaller amount , a bullish divergence occurs.

Conversely, bearish divergence occurs if the QQE line oscillates above the zero line , but the price experiences a smaller upward movement .

Uptrend conditions for the QQE indicator

According to the 4-hour price chart of Gold/USD (XAU/USD) , the performance QQE indicator can be observed during uptrend conditions.

The QQE line crossing the zero line and oscillating above the upper 50% zone for an extended period indicates a strong uptrend.

Downtrend conditions for the QQE indicator

According to the 1-hour price chart of Bitcoin (BTC) , the Performance QQE indicator can be observed during downtrend conditions. This QQE line crossing below the zero line and oscillating below the lower 50% zone for an extended period of time indicates a strong downtrend.

Settings

• RSI period: The calculation period RSI is set to 6;
• Price mode: This indicator is calculated based on the closing price of the candle;
• RSI smoothing: The smoothing for RSI is set to 5;
• QQE factor: The QQE factor is set to 3;
• Bollinger Band Length: The Bollinger Band length is set to 50;
• Bollinger Bands Multiplier: The Bollinger Bands Multiplier is set to 0.35;
• RSI period (QQE 2): Calculation period RSI in QQE 2 is also set to 6;
• Price mode (QQE 2): This indicator is calculated based on the closing price of the candle;
• RSI smoothing (QQE 2): The smoothing for RSI is set to 5;
• QQE factor (QQE 2): The QQE factor is set to 1.61;
• QQE thresholds: The thresholds for overbought and oversold conditions are set to 3.

Conclusion

The Quantitative and Qualitative Estimation (QQE) indicator is a practical tool for analyzing trends and signals in MetaTrader 5 . Due to the flexibility of its settings, this indicator is easily adaptable to various trading strategies . Traders using this feature MT5 Signal Prediction Indicator will be able to perform more precise chart analysis.