QQE MetaTrader indicator (Quantitative Qualitative Estimation), is based on a rather complex calculation of the smoothed RSI indicators. As a result we get 2 lines in a separate indicator window — fast and slow. There is also an important indicator level (50), which is used in signals. You can enable text, sound and e-mail alerts for this indicator. The indicator is available for both MT4 and MT5.
SF (default = 5) — a smoothing factor.
AlertLevel (default = 50) — indicator level for alerts. It is not recommended to change it.
MsgAlerts (default = true) — if true, message alerts will appear.
SoundAlerts (default = true) — if true, sound alerts will be used.
SoundAlertFile (default = "alert.wav") — a file name of the sound of sound alert.
eMailAlerts (default = false) — if true, e-mail alerts will be sent according to the MetaTrader e-mail settings.
How to trade with QQE
In the original QQE indicator trading system, the signals are generated when the blue line crosses level 50 and when it crosses the yellow (dotted) line. But we recommend using the following signals for trading: go long when the blue line crosses yellow line from below while both are below level 50; go short when the blue line crosses yellow line from above while both are above level 50.
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How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “QQE” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.
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