Winshots QQE Quantitative Qualitative Estimation
- Indicators
- Pawel Michalowski
- Version: 2.1
- Updated: 10 May 2023
- Activations: 5
The Qualitative Quantitative Estimation (QQE) indicator is a technical analysis tool developed for the MetaTrader 4 (MT4) trading platform. It is designed to help traders identify potential trend reversals and to determine the strength of a current trend.
The QQE indicator is calculated based on the Relative Strength Index (RSI) and Moving Average (MA) indicators. The RSI is used to determine the momentum of price movements, while the MA is used to smooth out the price data and identify trends.
The QQE indicator consists of two lines: the main line and the signal line. The main line is calculated based on a modified version of the RSI, which is then smoothed using a moving average. The signal line is calculated based on the main line and a longer-term moving average.
Traders can use the QQE indicator to identify potential trend reversals when the main line crosses above or below the signal line. When the main line is above the signal line, it is considered a bullish signal, while when the main line is below the signal line, it is considered a bearish signal.
Additionally, traders can use the QQE indicator to determine the strength of a current trend by analyzing the distance between the main line and the signal line. A wider distance indicates a stronger trend, while a narrower distance indicates a weaker trend.
Overall, the QQE indicator can be a useful tool for traders who want to analyze market trends and identify potential trading opportunities. However, as with all technical indicators, it should be used in conjunction with other analysis techniques and risk management strategies.