Manfred Veteran  Posts: 210 Joined: 4/2/2006 Location: South Africa  User Profile | I include a screencap of a chart of NFLX using Roman Ignatov's 2006 + Tim Hyder's "QQE with Alerts" MT4 code of 2008. This is what I've been trying to emulate. The Prorealtime approach referenced doesnt quite look as good to me as an indicator. I tried that in OT and scrapped it in favour of the MT4 code. Below is some adapted code that finally plots something useful in OT. At first glance its not as exciting on stocks as FX ito signal ambiguity but possibly with some additional entry filters could assist within a trading system. The basic systems idea is this: BUY signal: when the blue line crosses level 50 from below after crossing the orange line from below. SELL signal: when the blue line crosses level 50 from above after crossing the orange line from above. Some additional trading interpretations here - https://www.mql5.com/en/code/198 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: 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. 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. 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. Have fun, Cheers [Edited by Manfred on 1/11/2019 5:44 AM]  Attached file : QQE.txt (2KB - 424 downloads) Attached file : QQE_Example_Omnitrader_NFLX.png (76KB - 344 downloads) Attached file : QQE_Example_Omnitrader_SPY.png (79KB - 334 downloads) Attached file : QQE_Example_Metatrader.png (60KB - 304 downloads) Attached file : QQE_Example_OTvsMT.png (140KB - 312 downloads) |
