QQEA Indicator

QQEA Indicator

QQEA Indicator For MT4 uses the crossover of the signal line and smoothed RSI line to provide reliable buy-and-sell forex trend trading signals.
The QQEA indicator for MT4 uses the classic RSI indicator to derive the forex trading buy and sell signals. QQEA – Quantitative Qualitative Estimation applies EMA – Exponential moving average to the RSI to remove the choppiness of RSI indicator. As a result, the indicator helps to identify trend changes and entry and exit points in forex technical analysis.

The indicator works on a simple crossover principle to generate the bullish and bearish trading signals. So, it is easy to interpret and is suitable for new and advanced forex traders. Moreover, traders can use it in automated trading strategies. Additionally, it works well in all chart time frames and is useful for scalpers, short and long-term forex traders.

QQEA Indicator For MT4 trading Signals

The indicator plots a blue signal line and red QQE line. In a bullish condition the blue crosses the red line upwards. Similarly, in a bearish trend the blue line crosses the red one downwards. So, the best trading strategy is to enter and exit markets based on the crossover.

The QQE line is the smooth version of RSI using the EMA. The signal line is the smoothed version of the QQE line. As a result, traders get stable and reliable trading signals.

If the blue line crosses above the red line, trader should enter a buy trade with a stop loss below the previous swing low and book profits at the opposite signal.

Conclusion
In summary, the QQEA indicator for MT4 uses the smoothed RSI to generate profitable forex trading signals.