RSX QQE - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The QQE (Quantitative Qualitative Estimator) indicator consists of a smoothed relative strength index (RSI) indicator and two volatility-based tracking levels (fast and slow).
Fast Tracking Levels (TL) and Slow TL are constructed by calculating the average range of the smoothed RSI over n periods and then further smoothing the average range using an additional n period Wilders smoothing function. The RSI's smoothed average range is then multiplied by the fast and slow average range multipliers to calculate the final fast and slow tracking levels.
This version of QQE is also using RSX (smoother and lag-free RSI) to further cleanse the signal.
Attachment download
📎rsx_qqe.mq5 (13 KB)
Source: MQL5 #21578
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