QQE indicator for MetaTrader 5 Download - Free - [TradingFinder]

The Quantitative and Qualitative Estimation (QQE) indicator is an advanced tool in 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 indicator utilizes Quantitative and Qualitative analyses to effectively identify and analyze trends and signals. Additionally, this tool can calculate divergence.

Indicator Specifications Table

Uptrend Conditions in the QQE Indicator

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

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

Downtrend Conditions in the QQE Indicator

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

Settings

• RSI period: The period for calculating RSI is set to 6;
• Price mode: The indicator is calculated based on the candle’s closing price;
• RSI smoothing: The smoothing for RSI is set to 5;
• QQE factor: The QQE factor is set to 3;
• Bollinger Bands Length: Bollinger Bands length is set to 50;
• Bollinger Bands Multiplier: The Bollinger Bands multiplier is set to 0.35;
• RSI period (QQE 2): The period for calculating RSI in QQE 2 is also set to 6;
• Price mode (QQE 2): The indicator is calculated based on the candle’s closing price;
• 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 its flexibility in settings, this indicator easily adapts to various strategies. Traders using this indicator will be able to perform more precise chart analyses.