QQE - Quantitative Qualitative Estimation
QQE ProRealTime indicator — or Quantitative Qualitative Estimation, is based on a rather complex calculation of the smoothed RSI indicators.
The QQE indicator consists of a smoothed Relative Strength Index (RSI) indicator and two volatility-based trailing levels (fast and slow). The Fast Trailing Level (TL) and Slow TL are constructed by calculating the ATR of the smoothed RSI over n-periods and then further smoothing the ATR using an additional n-periods Wilders smoothing function. This smoothed ATR of RSI is then multiplied by the Fast and Slow ATR Multipliers to calculate the final Fast and Slow Trailing Levels.
//PRC_QQE | indicator
//11.10.2016
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//--- parameters
RSIPeriod = 14
SF = 5
QQE=4.236
//---
WildersPeriod = RSIPeriod * 2 - 1
if barindex>WildersPeriod then
MyRsi = rsi[RSIPeriod](close)
RsiMa = exponentialaverage[SF](MyRsi)
AtrRsi = abs(RsiMa[1] - RsiMa)
MaAtrRsi = exponentialaverage[WildersPeriod](AtrRsi)
dar = exponentialaverage[WildersPeriod](MaAtrRsi) * QQE
trr=TrLevelSlow[1]
dv = trr
if RsiMA[0]<trr then
trr = RsiMA[0] + dar
if(RsiMA[1]<dv) then
if(trr>dv) then
trr=dv
endif
endif
elsif RsiMA[0]>trr then
trr = RsiMA[0] - dar
if(RsiMA[1]>dv) then
if(trr<dv) then
trr=dv
endif
endif
endif
TrLevelSlow=trr
endif
RETURN trr coloured(0,0,0) as "QQE" , RsiMA coloured(0,0,200) as "RsiMA", 50 as "level 50"
Comments
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Hello, I would like to use the QQE indicator which is based on smooth RSI as far as I understand In the code I don't understand the line: trr=TrLevelSlow[1] I would appreciate if somebody can explain me this instruction Thank you Jean Philippe
Hi,
I was wondering if this QQE indicator could be used on a 1 min or 15 min timeframe. With the settings shown above (for the RSI period, SF and QQE), the indicator clearly does not match the evolution of the candlesticks.
Has anyone calculated these variables for 1 min or 15 min TF ? How can this be done ?
Thank you very much for advice.
Glen
Non ça n'est pas un bug. Les couleurs sont déclarés en dur dans le code à la ligne 43, donc tu ne pourras pas les changer à la main dans la fenêtre de paramètre de l'indicateur. Tu peux supprimer les instructions "coloured" dans cette ligne et tu pourras alors les changer à volonté toi même.
Bonjour Nicolas, te serait il possible de rajouter la fast ATR manquante dans le code? Merci