QQE MetaTrader indicator | FREE Forex Trading Indicator
The QQE MetaTrader indicator, which stands for Quantitative Qualitative Estimation, is based on a rather complex calculation of smoothed RSI indicators. As a result, we get two lines — fast and slow — in a separate indicator window. In addition, there is an important indicator level (50), which is used in signals. This indicator supports text, sound, and e-mail alerts. The indicator is compatible with 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.
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Signals are generated in the original QQE indicator trading system when the blue line crosses level 50 and when it crosses the yellow (dotted) line. However, I recommend trading with the following signals: When the blue line crosses the yellow line from below and both are below level 50, go long; when the blue line crosses the yellow line from above and both are above level 50, go short.
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