The QQE forex indicator is a popular buy sell trading oscillator for the metatrader 4 platform.
QQE fluctuates above and below the zero line in a separate window below the main activity chart.
It also draws buy and sell arrows in the main activity chart.
Green arrows to buy and red arrows to sell.
Learn below how to use the oscillator function and the buy/sell trading arrows in the most profitable way.
The EUR/USD H1 chart below displays the QQE forex indicator in action.
Basic Trading Signals
Signals from the QQE forex indicator are easy to interpret and goes as follows:
Buy Signal: The QQE oscillator must be trading above its zero level (bullish trend). Next, open a buy trade when a green arrow pops up on the main activity chart. Ignore all sell signal arrows.
Sell Signal: The QQE oscillator must be trading below its zero level (bearish trend). Next, open a sell trade when a red arrow pops up on the main activity chart. Ignore all buy signal arrows.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (SF, RSI Period, WP, UpperBound, LowerBound, alertsOn, alertsEmail) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator | Buy & sell arrows
Copy and paste the qqe.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)