GBP/JPY for QQE Traders!

Yep. That's what the QQE is based on.

Yours is probably the most current for MT4. Written about a year ago, and using hard coded values where variables could be used instead . . .

Here's a good explanation of the RSI indicator, which the QQE is derived from:

http://www.actionforex.com/articles-...2007121733643/

Thanks PC for those findings.

By the way, if anyone is testing the method I've posted few post back, do post your results here when you can... ^^"

Any thoughts/suggestions are welcome of course.

Another pretty good one . . .

http://www.streetauthority.com/terms/r/rsi.asp

Also, if anyone could help me get my 1KT status, that would be great! ^^ But really, I've entered much more than 1000 live trades in my trading career the past few years... Too bad PC is the only 1KT status member that I know who is still here posting... Few others, such as Sith stopped posting months ago... and Kujo doesn't really post much anymore now either.

Here's what my friend has found about about using QQE with this method:

"I'm using 30 smoothing at the moment.
I've been experimenting with a range of 15-60 and found, as you did, that 30 seems to give the right entry signals.
I like both dotted lines and how they flick up before they shoot downwards (for a short trade).
I watch for the blue to cross both lines, then wait for both lines to point in the direction of the blue.
I've been watching EU all day today (it's 4.15 pm here now) and it's been doing nothing, but it came alive close to 4pm.

The 30 smoothing gave me an early warning that it was about to head south.
The KISS 25 line was actually rather flat at the time I entered, but I felt confident with the QQE signal and went with it."

So based on that, I've also turned on the second dotted line and will be watching that as well. Perhaps, QQE60 won't even be needed and QQE30 would be all we need to use. But that's why we're testing to find out more haha. He won his EU trade earlier today based on this. So for now, I'm taking off my QQE60, and only using QQE30 for my confirmation.

Good luck everyone.

Hmmm... I tried to look into the code at MT4 to post it here, but it doesn't allow me to even look into the indicator, so I can't get the code.

Okay, I found a QQE.mq4 on this thread:

http://www.forexfactory.com/showthread.php?t=45232

I downloaded it to my desktop, then persuaded Notepad to open it. Here's the contents. Alas, the indenting gets lost even though I switch to Courier New font. It's easier for me make sense of it with indenting:

//+------------------------------------------------------------------+
//| Qualitative Quantitative Estimation Indicator for Metatrader 4 |
//| Copyright 2006Roman Ignatov |
//| mailto:[email protected] |
//+------------------------------------------------------------------+
#property copyright "Copyright 200 Roman Ignatov"
#property link "mailto:[email protected]"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Navy
#property indicator_style1 STYLE_SOLID
#property indicator_width1 2
#property indicator_color2 Navy
#property indicator_style2 STYLE_DOT

extern int SF = 5;
int RSI_Period = 14;
int Wilders_Period;
int StartBar;
double TrLevelSlow[];
double AtrRsi[];
double MaAtrRsi[];
double Rsi[];
double RsiMa[];
int init()
{
Wilders_Period = RSI_Period * 2 - 1;
if (Wilders_Period < SF)
StartBar = SF;
else
StartBar = Wilders_Period;

IndicatorBuffers(6);
SetIndexBuffer(0, RsiMa);
SetIndexStyle(0, DRAW_LINE, STYLE_SOLID, 2);
SetIndexLabel(0, "Value 1");
SetIndexDrawBegin(0, StartBar);
SetIndexStyle(1, DRAW_LINE, STYLE_DOT);
SetIndexBuffer(1, TrLevelSlow);
SetIndexLabel(1, "Value 2");
SetIndexDrawBegin(1, StartBar);
SetIndexBuffer(2, AtrRsi);
SetIndexBuffer(3, MaAtrRsi);
SetIndexBuffer(4, Rsi);
IndicatorShortName(StringConcatenate("QQE(", SF, ")"));
return(0);
}

int start()
{
int counted, i;
double rsi0, rsi1, dar, tr, dv;

if(Bars <= StartBar)
return (0);
counted = IndicatorCounted();
if(counted < 1)
for(i = Bars - StartBar; i < Bars; i++)
{
TrLevelSlow[i] = 0.0;
AtrRsi[i] = 0.0;
MaAtrRsi[i] = 0.0;
Rsi[i] = 0.0;
RsiMa[i] = 0.0;
}

counted = Bars - counted - 1;

for (i = counted; i >= 0; i--)
Rsi[i] = iRSI(NULL, 0, RSI_Period, PRICE_CLOSE, i);
for (i = counted; i >= 0; i--)
{
RsiMa[i] = iMAOnArray(Rsi, 0, SF, 0, MODE_EMA, i);
AtrRsi[i] = MathAbs(RsiMa[i + 1] - RsiMa[i]);
}
for (i = counted; i >= 0; i--)
MaAtrRsi[i] = iMAOnArray(AtrRsi, 0, Wilders_Period, 0, MODE_EMA, i);
i = counted + 1;
tr = TrLevelSlow[i];
rsi1 = iMAOnArray(Rsi, 0, SF, 0, MODE_EMA, i);
while (i > 0)
{
i--;
rsi0 = iMAOnArray(Rsi, 0, SF, 0, MODE_EMA, i);
dar = iMAOnArray(MaAtrRsi, 0, Wilders_Period, 0, MODE_EMA, i) * 4.236;
dv = tr;
if (rsi0 < tr)
{
tr = rsi0 + dar;
if (rsi1 < dv)
if (tr > dv)
tr = dv;
}
else if (rsi0 > tr)
{
tr = rsi0 - dar;
if (rsi1 > dv)
if (tr < dv)
tr = dv;
}
TrLevelSlow[i] = tr;
rsi1 = rsi0;
}

return(0);
}

Here's MT4 code for a QQE with alerts, by the above author:

http://codebase.mql4.com/source/6981

And without alerts . . .

http://codebase.mql4.com/source/6708

Ah... thanks! Good finds!

By the way, anyone took any trades today with the method I posted? If only using QQE30 and both dotted lines, UJ would have hit 25 pip TP as well with a Buy. But yea... after look at the charts, QQE60 really isn't needed, 30 smoothing is enough to use for trade confirmation.

Yeah, if you're on a 1hr chart QQE60 is probably too high IMO. I've got some other tests going on today, so haven't taken any trades with your method. I did take the time to put the MA's on a G/J 1hr chart and add a QQE30, so I could see how things were looking. It appears there was a sell signal on Friday.

Here's a cup of coffee for you, Nobi. It's been nice hanging out with you today!

Haha, thanks! Take care buddy!

Here's a zip file with all the indicators needed, latest template and a document explaining how to trade it, in case anyone's interested.

I'll give that method a try later this week. Thanks.

I'm currently trying to get to grips with Auslanco's 15m and 1hr/4hr strategy, both of which use QQE5 and QQE60 a lot. The problem I've had today is that the 15M strategy has generated 2 different sell signals both of which reversed on me quickly and for losses (don't worry I've been demoing while I learn so no money lost). The QQE60 on the 15M is crossing all over the place.

I'm using the latest version of the strategy with the DP, 100 SMA and daily 5SMA checks but these sell signals came below all those levels. I know Aus says his 15M strategy signal is his priority, so I'm just wondering what am I missing looking at the charts.

Can you guys (if you're familiar with the strategy) tell me what would have made you stay out of those trades?

I should add that I know that losses are part of the game and if this was one of those occasions then no problem. I just want to be doubly sure that I didn't miss something that should have kept me out of the market.

I noticed the price bounced off the 50EMA on the 4HR but I didn't know if that was a crucial support level. But what I'm learning is that if I put every EMA, SMA, fibo level and pivot point S/R level on the chart then I'd see resistance or support everywhere and I would never take a trade.

I'm also trying to read the momentum indicators from Aus' other thread which is proving interesting. Very hard to work out which one takes priority. I use the 1C, 10C, 14C and the stochastic RSI together with the 5SMA channel as recommended by Aus. Anyone else had success with that approach?

Fascinating to watch you guys talk about the QQES PC and Nobitacu, I've bookmarked that to return to when I have a bit more knowledge.

I use the 5min level = and the qqe5. But I also use Bill Williams Ausum Accelerator to let me know what might happen in the next couple of candles. It is like a gas pedal. When your foot eases up on the pedal in anticipation of something that could happen it changes color. You can not trade on this but it is like a red flag. That's all it is. I am having great results with this method. Maybe if I had the correct qqe alert signals I could delete the AC.

I would love to know the correct settings for 15, 30, 1hr, and 4hr qqe's.

I see Williams uses the "Chaos Accelerator Oscillator" and the "Chaos Awesome Oscillator". Also the "Chaos Alligator Indicator", "Chaos Fractals", and the "Chaos Gator Oscillator".

The standard QQE smoothing factor for all the frames you've mentioned is 5. We often refer to that as QQE5 for short. I would suggest you start with that, and see how things go. If you want to experiment with a second QQE on the chart, you could try anything from 1 - 60 to see which is the most helpful.