QQE Mod Professional

QQE Mod Professional

This indicator implements the QQE (Qualitative Quantitative Estimation) algorithm for MetaTrader 5, incorporating volatility bands logic.

The indicator combines the Relative Strength Index (RSI) with Average True Range (ATR) to determine market direction. The histogram changes color based on the interaction between the RSI momentum and the calculated volatility channel.

Technical Logic: The algorithm smoothes the RSI values and constructs upper and lower bands. When the smoothed RSI breaks these bands, the histogram indicates a directional change.

Indicator signals:

• Blue Histogram: Price is above the volatility band (Bullish condition).

• Red Histogram: Price is below the volatility band (Bearish condition).

• Gray Histogram: Price is inside the neutral zone.

Parameters:

• RSI Length: Period for the Relative Strength Index calculation.

• RSI Smoothing: Smoothing factor applied to the RSI line.

• QQE Factor: Multiplier for the ATR volatility bands width.

Features:

• Compatible with all timeframes.

• Non-repainting signals (values are fixed after candle close).

• Optimized specifically for the MetaTrader 5 platform.

Author's Note: This professional analysis tool is released for FREE to the community. If you find it useful for your trading, please consider leaving a review.