QQE indicator represents the qualitative-quantitative estimate of the price in mt4. This indicator operates in MetaTrader 4 platform that indicates price parameters in a separate window on the price chart.
|Indicator Function||It gives Buy and Signals|
|File Size||44 KB|
How does the qqe indicator work in mt4?
QQE indicator consists of two lines with a combination of slow and fast-moving averages and a histogram below the slow rsi line.
The slow rsi line indicates a trend reversal in the market, whereas the fast rsi line confirms the trend.
There are many ways to use the qqe indicator. It deoend2 on your trading style. For example, it does not matter whether you’re a trend reversal trader, trend continuation trader, or scalper; you can use this indicator in your strategy.
This indicator’s main benefit is that it provides a signal and then confirmation of the signal in the form of a crossover. The crossover of slow and fast lines confirms a trend reversal.
QQE indicator signals
Here’s the parameter you should follow to open a buy or sell trade. It’s not compulsory to follow our strategy. You can use this indicator according to your strategy.
Open a sell trade
When the green rsi line crosses the red line, open a sell trade. Both lines should be in the overbought region, which is a critical condition you must follow.
Open a buy trade
When the green line crosses the red line and both lines are in overso3 condition, open a buy trade.
The bottom line
Traders widely use the QQE indicator in mt4 to determine the direction of the trend. I highly recommend this indicator to trend reversal traders using the divergence strategy.Download indicator