QQE Metatrader 4 Forex Indicator

QQE is short for Qualitative Quantitative Estimation and represents a Metatrader 4 forex indicator that uses the smoothed Moving Average of Relative Strength Index indicator.

It’s an oscillator that tries to find discrepancies in which price forms a new maximum while overcoming the level of its previous maximum.

The QQE indicator also uses the ATR (Average True Range) as a volatility based trailing stop technical tool.

The indicator does pretty well when monitoring assets like futures, stocks, forex etc.

There are two default lines found within the indicator window: a dotted yellow line (slow trailing stop line) and a dodger blue line (fast trailing stop line).

Free Download

Download the “qqe.ex4” MT4 indicator

Example Chart

The EUR/USD H1 chart below displays the QQE Metatrader 4 forex indicator in action.

Basic Trading Signals

Buy Signal: Go long when the dodger blue line of the QQE Metatrader 4 forex indicator breaks above the 50.00 signal level.

Sell Signal: Go short when the dodger blue line of the QQE Metatrader 4 forex indicator dips below the 50.00 signal level.

Exit buy trade: Close all buy orders if while a bullish trend is running, the yellow dotted line of the QQE indicator crosses the dodger blue line in a top downward manner to hover above it.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the yellow dotted line of the QQE indicator intersects the dodger blue line in a bottom up fashion to stay below it.

Tips: The QQE indicator can also be used in spotting divergence between price and the indicator, thus helping currency traders determine buy/sell setups for trend reversal or trend continuation.

Download

Download the “qqe.ex4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart window indicator

Customization options: Variable (Alert Level, Msg Alerts, Sound Alerts, Sound AlertFile, eMail Alerts), width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: oscillator | trend | divergence

Installation

Copy and paste the qqe.ex4 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)

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