QQE Advanced MT5
- Indicators
- KEENBASE SOFTWARE SOLUTIONS
- Version: 1.0
- Activations: 5
The KT QQE Advanced is a modified version of the classic QQE oscillator to depict it more accurately using the colored histogram with fast and slow Trailing Line(TL).
Unlike the classic QQE, the KT QQE Advanced consists of a histogram with overbought/oversold levels.
Applications
- Find quick buy/sell signals across all the timeframes using the MTF scanner.
- Find the trend direction more accurately.
- Detects overbought/oversold market.
- Shows the price momentum.
Inputs
- RSI Period
- Smooth Period
- MTF Scanner
- Alert Settings
What Exactly is QQE?
QQE stands for Quantitative Qualitative Estimation. The QQE oscillator was derived using the super-smoothed RSI combined with the ATR.
Instead of using the classic RSI, the QQE oscillator uses Wilder's RSI, derived from a different form of the exponential moving average for the smoothing.
Wilder's smoothing = Previous MA value + (1/n periods * (Close - Previous MA))
Excellent indicator...one that works very well on the hourly chart! Well done and thank you!