QQE stands for Qualitative Quantitative Estimation and it’s an indicator built for Metatrader 5 based on the relative strength index (RSI) using a smoothing trend filter.
QQE appears in a bottom chart as a blue and brown colored signal line that provides trend direction.
The trade logic is very easy to understand:
- The blue colored QQE line represents a buy trend.
- The brown colored QQE line represents a sell trend.
The following indicator inputs and parameters can be modified: RSI period, RSI smoothing factor, fast period, slow period, and price.
The QQE trend indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
For M1 and M5 chart traders: deploy the indicator on the lower spread Forex pairs for best trading performance.
Please make yourself familiar with this technical indicator and test it first on a demo account before using it on a real account.
It supports all time frames and Forex pairs.
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Chart Example
The following chart shows how the QQE indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The QQE Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal arises when the blue colored QQE signal line gets printed on the chart.
- Open a buy order and place a stop loss slightly below technical support.
- Exit the buy trade for a fixed profit target, or wait for a sell signal.
Sell Signal
- A sell signal arises when the brown colored QQE signal line gets printed on the chart.
- Open a sell order and place a stop loss slightly above technical resistance.
- Exit the sell trade for a fixed profit target, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the QQE.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration