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Quantative Qualitative Estimation indicator (QQE) for Metatrader 5
QQE indicator for Metatrader 5 is a combination moving average RSI + ATR. It's very useful for volatile pair such as GBP/ JPY , GBP/USD , USD/ JPY
This is how the Quantative Qualitative Estimation indicator is created:
1) Create an exponential moving average of RSI; the periods (length) is user-defned, default value is 2.
2) Create the 14-period ATR indicator based on the EMA of RSI.
3) Create the 2 trailing stop lines
3a) fast trailing stop is the ATR smoothed with a 14-periods wilders() smoothing function that is multiplied by a factor of 2.618
3b) slow trailing stop is the ATR smoothing with a 14-periods wilders() smoothing function that is multiplied by a factor of 4.236
Default Metatrader settings for QQE indicator:
Detailed QQE for Metatrader performance:
You will find all required manuals on how to use Metatrader 5 and how to install indicators here