QQE is short for Quantitative Qualitative Estimation and is buillt using the RSI (Relative Strength Index) as the base indicator.
In addition to using the RSI as a base indicator, the QQE Signals forex indicator deploys velocity (smoother momentum) as a tool to aid in determining trend.
As a multi time frame Metatrader 5 forex indicator, the indicator supports all timeframes and introduces three additional special time frames:
- Next higher timeframe: foremost higher timeframe compared to active chart
- Second higher timeframe: second higher timeframe compared to active chart
- Third higher timeframe: third higher timeframe compared to active chart
The AUD/USD H1 chart below displays the QQE Signals Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the thicker (typically deep sky blue) line of the QQE Signals forex indicator breaks above the zero level.
Sell Signal: Go short when the thicker (normally light salmon) line of the QQE Signals forex indicator dips below the zero level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the thicker line of the QQE Signals indicator dips below the zero level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the thicker line of the QQE Signals indicator breaks above the zero level.
Tips: Trading the QQE Signals forex MT5 indicator in conjunction with other technical indicators will ensure a higher likelihood for success.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Time frame, Velocity period, Velocity smoothing factor, Fast period, Slow period, Price, Interpolate in multi time frame mode?), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the QQE of velocity – mtf.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)