AllAbsoluteQQE

Hi All,

Please take a look at one more interesting stuff - AllAbsoluteQQE, which is a continuation of the well-known QQE and similar TrendStrength and TrendRSI. As written here the author of the Quantitative Qualitative Estimation (QQE) is unknown but luckily you know who is the author of the TrendStrength and TrendRSI.

Code:

extern int     TimeFrame         =     0;    // TimeFrame in min
extern int     MathMode          =     0;    // Math method: 0-RSI;1-Stoch;2-DMI
extern int     Price             =     0;    // Price = 0...6 (see List of Prices)
extern int     Length            =    27;    // Period of evaluation
extern int     PreSmooth         =     1;    // Period of PreSmoothing
extern int     Smooth            =     5;    // Period of smoothing
extern int     MA_Method         =     1;    // According to list above
extern int     RangeAvgLength    =    27;    // Average Range Period  
extern double  Multiplier        = 4.236;    // Average Range Multiplier
extern int     SignalMode        =     1;    // 0-off,1-on
extern int     LevelsMode        =     2;    // Levels Mode: 0-Standard OverBought/OverSold 
                                             //              1-StdDev Bands
                                             //              2-High/Low Channel
extern double  OverboughtLevel   =    80;    // Overbougt Level (ex.70)
extern double  OversoldLevel     =    20;    // Oversold Level (ex.30)
extern int     LookBackPeriod    =    20;    // LookBack Period for LevelsMode=1,2 
extern double  UpperMultiplier   =     1;    // Upper Band Multiplier for LevelsMode=1 
extern double  LowerMultiplier   =     1;    // Lower Band Multiplier for LevelsMode=1

Regards,
Igor

UPDATES:

2013.04.22 - version v2.1: 1 minor bug fixed.

Important: Please download fixed version v2.1.

This is the article from the link provided by Igorad on the first post (about how to use this indicator)

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Quantitative Qualitative Estimation (QQE)

The origin of the Quantitative Qualitative Estimation (QQE) indicator is currently unknown.

The QQE indicator consists of a smoothed Relative Strength Index (RSI) indicator and two volatility-based trailing levels (fast and slow). The Fast Trailing Level (TL) and Slow TL are constructed by calculating the ATR of the smoothed RSI over n-periods and then further smoothing the ATR using an additional n-periods Wilders smoothing function. This smoothed ATR of RSI is then multiplied by the Fast and Slow ATR Multipliers to calculate the final Fast and Slow Trailing Levels.

Interpretation

There are several different methods in which the QQE can be used to generate trading signals. Here are few of the more common techniques:

Crossovers: 1) RSI / Fast ATR TL or Slow ATR TL Crossover: A buy signal occurs when the RSI crosses above the Fast ATR TL or Slow ATR TL and a sell signal occurs when RSI crosses below the Fast ATR TL or Slow ATR TL. 2) RSI / 50-level Crossover: When the RSI crosses above 50 a buy signal is given. Alternatively, when the RSI crosses below 50 a sell signal is given. 3) Fast ATR TL / Slow ATR TL Crossover: A buy signal occurs when the Fast ATR TL crosses above the Slow ATR TL and a sell signal occurs when Fast ATR TL crosses below the Slow ATR TL.

Divergence: Looking for divergences between the QQE indicator and price can prove to be very effective in identifying potential reversal points in price movement. Trade long on Classic Bullish Divergence: Lower lows in price and higher lows in the QQE; Trade short on Classic Bearish Divergence: Higher highs in price and lower highs in the QQE.

Overbought/Oversold Conditions: Much like the original RSI (and other oscillators), the QQE indicator can be used to identify potential overbought and oversold conditions in price movements. An Overbought condition is generally described as the QQE being greater than or equal to the 70% level while an oversold condition is generally described as the QQE being less than or equal to the 30% level. Trades can be generated when any of the QQE outputs (RSI, Fast ATR TL or Slow ATR TL) crosses these levels. When the RSI, Fast ATR TL or Slow ATR TL crosses above 30 a buy signal is given. Alternatively, when the RSI, Fast ATR TL or Slow ATR TL crosses below 70 a sell signal is given.

And this is my chart with EURUSD H1 with default settings :

And those are some QQE indicators.

The first one is QQE with alerts incl email alert (i did not check alerts sorry):

This is multi timeframed QQE (MTF QQE). MTF_QQE indicator works only with QQE indicator.

And this is QQE for Metatrader 5 with alert and email alert (attached)

That's all news

Excellent work! - Incorporating in my trading this week.

Originally Posted by igorad

Hi All,

Please take a look at one more interesting stuff - AllAbsoluteQQE, which is a continuation of the well-known QQE and similar TrendStrength and TrendRSI. As written here the author of the Quantitative Qualitative Estimation (QQE) is unknown but luckily you know who is the author of the TrendStrength and TrendRSI.

Code:

extern int     TimeFrame         =     0;    // TimeFrame in min
extern int     MathMode          =     0;    // Math method: 0-RSI;1-Stoch;2-DMI
extern int     Price             =     0;    // Price = 0...6 (see List of Prices)
extern int     Length            =    27;    // Period of evaluation
extern int     PreSmooth         =     1;    // Period of PreSmoothing
extern int     Smooth            =     5;    // Period of smoothing
extern int     MA_Method         =     1;    // According to list above
extern int     RangeAvgLength    =    27;    // Average Range Period  
extern double  Multiplier        = 4.236;    // Average Range Multiplier
extern int     SignalMode        =     1;    // 0-off,1-on
extern int     LevelsMode        =     2;    // Levels Mode: 0-Standard OverBought/OverSold 
                                             //              1-StdDev Bands
                                             //              2-High/Low Channel
extern double  OverboughtLevel   =    80;    // Overbougt Level (ex.70)
extern double  OversoldLevel     =    20;    // Oversold Level (ex.30)
extern int     LookBackPeriod    =    20;    // LookBack Period for LevelsMode=1,2 
extern double  UpperMultiplier   =     1;    // Upper Band Multiplier for LevelsMode=1 
extern double  LowerMultiplier   =     1;    // Lower Band Multiplier for LevelsMode=1

Regards,
Igor

UPDATES:

2013.04.22 - version v2.1: 1 minor bug fixed.

Hi igorad.

Thanks a lot for share this great indicator.

I have a request: Could you add alerts when:
* upSignal and dnSignal buffers appear.
* Difference buffer be more or equal to Overbought buffer and zero level.
* Difference buffer be less or equal to Oversold buffer and zero level.
Note: If you consider that the alerts must be more or less but not equals, it is ok, exclude the equal condition of my request.

Regards.

Originally Posted by Gus4x

Hi igorad.

Thanks a lot for share this great indicator.

I have a request: Could you add alerts when:
* upSignal and dnSignal buffers appear.
* Difference buffer be more or equal to Overbought buffer and zero level.
* Difference buffer be less or equal to Oversold buffer and zero level.
Note: If you consider that the alerts must be more or less but not equals, it is ok, exclude the equal condition of my request.

Regards.

Hi Gus4X,

Please check out the updated AllAbsoluteQQE_v2.2 with the popup alerts according to your rules.

Regards,
Igor