Available translations

Quantitative Qualitative Estimation

Summary: The Quantitative Qualitative Estimation (QQE) is is derived from Wilder's famous Relative Strength Index (RSI). In essence, the QQE is a heavily smoothed RSI.
QQE on the Charts
The QQE indicator features the standard RSI, the heavily smoothed fast value, and the slow trailing line which is smoothed again and multiplied by the Fibonacci number of 4.236.
Key concepts:
  • A reading above 50 on the indicator indicates a bullish market, while a drop below 50 is a bearish market.
  • Oversold and overbought areas operate similarly to the RSI; 70 is overbought and 30 is oversold.
  • Divergences can be used to try and predict potential trend reversals.
The parameters of the QQE indicator can be changed by locating and opening the Javascript Code under Data Building Procedure -> Procedure Loop under "QQE" Product Definition.
QQE Products & Properties
Product Setting Product Variable Properties
QQE qqe fast, slow, rsi
A simple strategy can be built by entering a trade when the qqe fast value crosses above the slow value while under the 50 line:
 chart.at01hs.qqe.fast > chart.at01hs.qqe.slow && chart.at01hs.qqe.previous.fast < chart.at01hs.qqe.previous.slow && chart.at01hs.qqe.fast < 50
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