Another interesting thing about the QQE60, is that the Auslanco strategies don't care if it's above or below the 50 line. The only thing that matters is that the solid RSI-Index line and the dotted RSI-slow line cross.
- #2,301
- Edited 10:14pm Jul 23, 2008 10:00pm | Edited 10:14pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #2,302
- Jul 23, 2008 10:59pm Jul 23, 2008 10:59pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Altogether today I found three different MT4 QQE's on FF that seem to work correctly. But none of them have totally correct default values. You have to make changes to all of them. The "QQE.mq4" indicator is the most simple. It doesn't have any alerts (sounds, dots, etc.). During setup you need to add a 50 line unless you're doing a QQE60. It only comes with an RSI-index line and an RSI-slow line. No "fast" line to black out.
QQE.mq4
There are two "version 5" QQE alerts from Que. One version only defaults the solid RSI-index line. Both the fast and slow lines are blacked out, so you need to choose a color for the RSI-slow. But it doesn't tell you which one is the "slow" and which one is the "fast".
http://www.forexfactory.com/showpost...81&postcount=3
###QQE_Alert_MTF_v5###.ex4
The other version is the one from the download section of the web page. It's the version that blacks out the RSI-slow line by default, when it would be better off blacking out the RSI-fast line. But just like the other "v5", there's no way of knowing which one is which just by looking at the setup window.
http://66.70.197.110/auslanco/downloads.htm
Que's QQE Alert MTF v5
Pips_Cruiser,
A big thank you; much appreciated!
After going through your charts and research regarding the issue with the QQE it does seem to be the settings of the RSI is the problem. I agree with you there is no way it tells you which is fast or slow, especially when all the QQE indicators on FF are defaulted incorrectly.
However I have changed them over as you have shown and mentioned and all is working fine. I have noted down know which ones are fast/slow for future use as it does not show it.
Thanks once again - now I can start to properly use the QQE strategy more effectively, make the green pips and get to the level where most of you guys are at with it!
Kenu
- #2,304
- Edited 12:35pm Jul 27, 2008 12:08pm | Edited 12:35pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
All QQEs on 1H 4H and Daily have been crossed up for a day or two, with price trading above the Gann. And this morning at London open we got an Aus 15M signal. If you'd waited for the retracement to the DSMA5 you would probably have got in around 214.40. Which could give you a nice ride up to 215.40. There's a new high, strong resistance has been breached and R1 is at 215.34.
Adding James16's price action into the mix there was a triple bar high on the daily around 213.85 for the last three days. You would almost certainly have gone long on the breach of this level which would give a much better entry.
In fact you probably would have been long from the break of the pin bar a few days ago around 210.85. The triple bar high would have acted as confirmation and you would be good for around 400 pips by now.
Aus QQE strategies seem to be working well for me as confirmation of price action. The 15M signal would have got me in a little late for my liking, just as the move was running out of steam.
GY certainly seems to be the hot pair this last week. And there is a lot of room in this upswing now that 214 has been breached.
Glad to see you mixing and comparing strategies. In the end you'll probably use a combination of things that suits your personality and lifestyle best. Remember to keep learning and never give up!
- #2,305
- Jul 28, 2008 8:20am Jul 28, 2008 8:20am
Nice post! Coming into the new week we have all QQEs from 1H through Weekly crossed up, and price above their Gann lines. Here's a look at the Monthly chart. I see price has been staying above the Monthly 5sma, and we've had daily and weekly closes above the Monthly 50ema. One or two more bullish months could turn it as well.
Glad to see you mixing and comparing strategies. In the end you'll probably use a combination of things that suits your personality and lifestyle best. Remember to keep learning and never give up!
It looks like all systems go for the longs on GBP/JPY. The daily and 4H have been crossed up and trading above the Gann and the 1H just closed above it (it was touch and go with the Gann flipping back and forward over the last 5 seconds of the bar). The QQE5 is at the 50 line as well so that makes it a perfect Aus 1H/4H setup. We also have a 15 min signal at around 2pm GMT.
This should give GY enough steam to break through the 38.2 ret of the big monthly move that it has been bumping up against. Price Action confirmation was Friday's pin bar off a good PPZ and the 150EMA. It wasn't the best looking pin in terms of nose:body ratio but it's more of a confirmation to me than an actual playable pin.
I'll be watching that 38.2 at 214.85. and the bar highs at 215.75. But there's good support from the pivot zone at 214.00.
On Auslanco's criteria it's a pitch perfect setup. They don't come along often, and they don't always work, but if anything is going to give it the momentum to jump over the 38.2 this will.
I've noticed GY seems to love the 50 ret so that's probably the long term target.
Let's see how this all plays out.
- #2,308
- Jul 29, 2008 5:16pm Jul 29, 2008 5:16pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
One thing I notice is thatthe 1H QQE hasn't crossed the RSI line upwards yet. I never found a clear answer to whether this was essential from the threads. I think it's nice to have it but not essential if everything else lines up. After all, too many filters and we're suddenly producing a very lagging signal.
I'm also interested in how you people use EMAs. It seems everyone has different favourites and I wondered if certain EMAs work better on different timeframes.
I see karmo is fond of the 50 EMA and particularly on the 1H, the 200EMA especially on the daily and the 100 EMA.
James16 likes the 150 and the 365 and uses them as support and resistance.
I'm producing a new set of chart setups for GY because everything is getting a bit crowded. I'm thinking one for the aus signals, one for all the bother EMAs, and one for price action, trendlines and fibs. SO I'm curious what EMAs you guys use.
Thanks.
Aaron
Now and then I'll add a 25ema to the higher timeframes, but end up taking them off before long. Also keep in mind that the Gann HiLo is a moving average, flipping between 10sma low and 10sma high.
- #2,309
- Jul 30, 2008 1:48am Jul 30, 2008 1:48am
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #2,311
- Jul 30, 2008 10:16am Jul 30, 2008 10:16am
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
JUST curious
I do use this system on/off, but I cannot rely on it too much since my hours of trading is not consistent. The key to the QQE is you need momentum to drive it. It will work great during peak trading hours for all three sessions [Asia, Europe, US]. You need to know what times during each session there is enough momentum.
- #2,318
- Edited 10:41am Jan 17, 2009 10:00am | Edited 10:41am
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
JUST curious
Some of the QQE strategies are probably overly complicated, and too loaded down with indicators. The trading trend in 2008 was simplification, and some of the participants moved on to other things including “naked chart” trading. When the trade calls slowed down and eventually stopped, we lost most of the lurkers. A few months ago when there were only a couple participants left, it became easier to exchange PMs than to keep posting to the thread.
I don’t strictly follow any of the QQE strategies anymore. But I still keep a QQE5 on most charts along with a Gann HiLo and some moving averages. They help me gauge price movement strength on different timeframes. I still make discretionary trades that are based on them. But I’m just as likely to take trades based on trend lines, fibos, or pivots. So I guess I’ve moved on, too.
