JustUncleL

[Alerts]QQE Cross v6.0 by JustUncleL

Description:
This is a major upgrade of my original QQE indicator Tool, this version is directed at Forex and Crypto Margin trading. This version can also be used with AutoView/ProfitView Chrome add-on in a semi-automatic (turn on only when conditions are favorable) or automatic way, with Signal to Signal or Signal to Close trading.

This is a Trend following indicator that uses fast QQE crosses to capture swings in direction of the main Trend. Alerts are filtered with Two Moving Average Ribbons and/or Direction of MAs. The QQE or Qualitative Quantitative Estimation is based on the relative strength index ( RSI ), but uses a smoothing technique as an additional transformation. Three crosses can be selected (all selected by default):
  • Smooth RSI signal crossing ZERO (XZ)
  • Smooth RSI signal crossing Fast QQE line (XQ), this is like an early warning swing signal.
  • Smooth RSI signal exiting the RSI Threshhold Channel (XC), this is like a confirmed swing signal. An optimal Smooth RSI threshold level is between 5% and 10% (default=10), it helps reduce the false swings.

These signals can be selected to Open Short/Long and/or Close a trade, default is XC open trade and XQ (or opposite open) to Close trade.

The (LONG/SHORT) alerts can be optionally filtered by the Moving Average Ribbons:
  • For LONG alert the Close must be above the fast MA Ribbon and fast MA Ribbon must be above the slow MA Ribbon.
  • For SHORT alert the Close must be below the fast MA Ribbon and fast MA Ribbon must be below the slow MA Ribbon.
and/or directional filter:
  • For LONG alert the Close must be above the medium MA and the directional of both MA ribbons must be Bullish .
  • For SELL alert the Close must be below the medium MA and the directional of both MA ribbons must be Bearish .
This indicator is designed to be used as a Signal to Signal trading BOT in automatic or semi-automatic way (start and stop when conditions are suitable).
  • For LONG and SHORT alerts I recommend you use "Once per Bar" alarm option
  • For CLOSE alerts I recommend you use "Once per Bar Close" alarm option
(* The script has been designed so that long/short signals come at start of candles *)
(* and close signals come at the end of candles *)
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
JustUncleL

Comments

YOUR STRATEGY IS NOT CORRECT CALCULATES THE PERCENTAGE OF PROFIT AND LOSS. DON'T BE FOOLED PEOPLE!
+9 Reply
pastet89 SIMBAD1341431
@SIMBAD1341431, Why, where do you see the error?
+1 Reply
Thank You Sir.
+3 Reply
Which time frame is best for this
+2 Reply
iam testing it in 1 minute chart binary option , it seems working good
+1 Reply
JustUncle - Curious why you are not using Hull like you did in Version 4?
Reply
JustUncleL golfsullivan
@golfsullivan, You can select Hull MA if that's what you want to use.
Reply
Please can someone tell he how to convert script to an indicator....please i am a newbie, first timer
Reply
suesi Oyedemi
@Oyedemi, The indicator is available in Tradingview indicator tab.
Reply
Does this repaint?
Reply
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