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QQE indicator for MetaTrader 5 Download - Free - [TradingFinder]
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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 trading tool utilizes Quantitative and Qualitative analyses to effectively identify and analyze trends and signals. Additionally, this tool can calculate divergence.

Indicator Specifications Table

Indicator Categories:
Oscillators MT5 Indicators
Signal & Forecast MT5 Indicators
Currency Strength MT5 Indicators
Platforms:
MetaTrader 5 Indicators
Trading Skills:
Intermediate
Indicator Types:
Reversal MT5 Indicators
Timeframe:
Multi-Timeframe MT5 Indicators
Trading Style:
Day Trading MT5 Indicators
Trading Instruments:
Forex MT5 Indicators
Crypto MT5 Indicators
Stock MT5 Indicators
Commodity MT5 Indicators
Indices MT5 Indicators
Forward MT5 Indicators
Share Stock MT5 Indicators

Overview of the Indicator

The calculation of divergence in this indicator works as follows: if the QQE line oscillates below the zero line, but the price experiences a smaller downward movement, bullish divergence has occurred.

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

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.

Uptrend Conditions
Quantitative and Qualitative Estimation (QQE) Indicator during an 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.

Downtrend Conditions
Quantitative and Qualitative Estimation (QQE) Indicator during a downtrend

Settings

Settings
Quantitative and Qualitative Estimation (QQE) Indicator 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 trading strategies. Traders using this MT5 signal forecast indicator will be able to perform more precise chart analyses.

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FAQs

What markets is the QQE indicator suitable for?

This indicator is suitable for all markets that have price charts.

Does the QQE indicator provide buy and sell signals?

No, this indicator does not generate buy or sell signals.

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