QQE Indicator for MT4 & MT5 (Alert System Download)

QQE indicator This is an indicator that measures the number of times you are being faked out by the market. The basic idea was presented in this thread . If you’re not familiar with it, I recommend reading that first. The main difference between QQE and BATRSI is how they measure overbought/oversold.

QQE indicator basically counts WinProfit80 how many times you’re oversold, so you win in the case of a Forex Reversal Indicator Quantitative Qualitative Estimation (QQE). I recommend using this indicator with price action strategy or ANTS .

QQE indicator

Step by step guide QQE indicator

  1. The inputs By default, the calculation starts on the day when the ticker reaches bottom 30% of range (it’s set to 36000, which corresponds to the bottom 30% of range on H4). The indicator measures (registers) how many times your trade Buy Sell Level went beyond this boundary. It also remembers whether you had a loss or profit for each of those cases. Depending on your broker and instrument, these numbers vary. If you’re trading on lower timeframes, you may want to increase the threshold value.
  2. You can also decrease it if your broker/instrument allows more movement on lower timeframes.
  3. The calculation In the standard version of QQE indicator, you set a period for which you would like to calculate these values (“Period” input). After this period expires, the indicator starts to count anew. QQE indicator uses the following TimeZone Indicator formula to calculate the current value: where PERIOD is period you set in input, PRICE(i) is the price at i-th bar, LOSS(i) is loss on this entry (if any), SOLD(i) is profit/loss made on this entry (if any), and N is the number of registered stops.
  4. Basically, the indicator counts how many times your trade went beyond +H/-L boundary as a result of HHHL pattern, where H stands for top 30% of range and L stands for bottom 30% of range.

QQE indicator Strategy

If you use an unbalanced lot size or account size, you may want to multiply the output by your scaling factor. You can also use this technique for Hedging purposes . Scenario 1: Your trade is exactly on the boundaries of HHL pattern (you go long when market goes up and short when it goes down).

QQE indicator Strategy

The indicator will have value of 1.0 in this case, Price Action Reversals regardless whether you win/lose. Scenario 2: You place your entry exactly on the opposite boundaries of HHHL pattern (you go long when market goes down and short when it goes up).

QQE Alert MT4 indicator free Download

The indicator will have value of -1.0 in this case, regardless whether you win/lose. Scenario 3: If you use unbalanced lot size or account size, the indicator will have value of 1.0 in this case. If you don’t, it will be 0. Scenario 4: If you are not on HHHL boundaries (you use unbalanced lot size/account size), the indicator won’t change its value regardless market conditions. Actually, if your trade is exactly opposite.