QQ E Quantitative Qualitative Estimation MT4
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use QQ E Quantitative Qualitative Estimation MT4
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
QQE MetaTrader indicator
— or Quantitative Qualitative Estimation, is based on a rather complex calculation of the smoothed RSI indicators. As a result, you get two lines in a separate indicator window — the fast one and the slow one. 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. This QQE implementation supports multi-timeframe analysis with upper timeframe display. The indicator is available for MT4, MT5
Input parameters
SF
(default = 5) — a smoothing factor.
AlertOnCrossover
(default = false) — if true, alerts will be issued when two QQE lines cross.
AlertOnLevel
(default = false) — if true, alerts will be issued when the QQE RSI line crosses the given level.
AlertLevel
(default = 50) — indicator level for alerts. It is not recommended to change it.
ArrowsOnCrossover
(default = true) — if true, the indicator will draw arrows on the chart when the QQE lines cross each other.
CrossoverUpArrow
(default = clrGreen) — the arrow color for a bullish crossover.
CrossoverDnArrow
(default = clrRed) — the arrow color for a bearish crossover.
ArrowsOnLevel
(default = true) — if true, the indicator will draw arrows on the chart when the QQE RSI line crosses the given level.
LevelUpArrow
(default = clrGreen) — the arrow color for a line cross up.
LevelDnArrow
(default = clrRed) — the arrow color for a line cross down.
NativeAlerts
(default = false) — if true, message alerts will appear.
NotificationAlerts
(default = false) — if true, push-notification alerts will be sent according to the MetaTrader notifications settings.
UpperTimeframe
(default = PERIOD_CURRENT) — if set to a timeframe above the current one, it will make the indicator calculate on that timeframe's data.
ObjectPrefix
(default = "QQE-") — the prefix for chart objects for compatibility with other indicators. Strategy and example
The
QQE indicator
is an oscillator that can be used either for direct signaling or divergence analysis. It has two types signals: two lines crossing each other and the blue line crossing a level. When the blue line crosses the yellow line from above, it is a sell signal. When the blue line crosses the yellow line from below, it is a buy signal. When the blue line crosses a given level from above, it is a sell signal. When the blue line crosses the given level from below, it is a buy signal.
The example below is showing a EUR/USD hourly chart with a QQE instance using 4-hour chart data to plot the lines. Two red arrows show two bearish signals — the first one generated the lines' crossover and the second one generated by the blue line crossing level 50.
