QQE Forex Trend Indicator For MT5

QQE stands for Qualitative Quantitative Estimation and it’s an indicator built for Metatrader 5 based on the relative strength index (RSI) using a smoothing trend filter.

QQE appears in a bottom chart as a blue and brown colored signal line that provides trend direction.

The trade logic is very easy to understand:

  • The blue colored QQE line represents a buy trend.
  • The brown colored QQE line represents a sell trend.

The following indicator inputs and parameters can be modified: RSI period, RSI smoothing factor, fast period, slow period, price.

The QQE trend indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.

For M1 and M5 chart traders: deploy the indicator on the lower spread Forex pairs for best trading performance.

Make yourself familiar with this technical indicator and test it first on a demo account before using it on a real account.

It supports all time frames and Forex pairs.

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QQE.mq5 Indicator (MT5)

Chart Example

The following chart shows how the QQE indicator looks like when applied to the MT5 chart.

How To Buy And Sell Forex Pairs With The QQE Indicator?

Find a simple trading example below:

Buy Signal

  • A buy signal arises when the blue colored QQE signal line gets printed on the chart.
  • Open a buy order and place a stop loss slightly below technical support.
  • Exit the buy trade for a fixed profit target, or wait for a sell signal.

Sell Signal

  • A sell signal arises when the brown colored QQE signal line gets printed on the chart.
  • Open a sell order and place a stop loss slightly above technical resistance.
  • Exit the sell trade for a fixed profit target, or wait for a buy signal.

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QQE.mq5 Indicator (MT5)

Frequently Asked Questions

How Do I Install This Custom Indicator On Metatrader 5?

  • Open the MT5 trading platform
  • Click on the File menu button located at the top left part of the platform
  • Click on Open Data Folder > MQL5 folder > Indicators
  • Copy the QQE.mq5 indicator file in the Indicators folder
  • Close and restart the trading platform
  • You will find the indicator here (Navigator window > Indicators)
  • Drag the indicator to the chart to get started with it!

How Do I Edit This Indicator?

  • Click in the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on properties
  • Now you can edit the inputs, colors, levels, scale and visualization
  • Finally click the OK button to save the new configuration