IFX_QQE is a technical indicator for MetaTrader that traders can apply on the forex market. QQE was invented on the basis of developed and modified RSI by famous Russian trader Roman Ignatov.
Formula
Rsi_r:= (rsiprice – ref(rsiprice,-1));
Rsi_rs:= Wilders(if(rsi_r>0,rsi_r,0),rsiperiods) / Wilders(if(rsi_r<0,Abs(rsi_r),0),rsiperiods);
RSIndex:= Mov((100-(100/(1+rsi_rs))),SF,ST);
Trading use
1. A buy signal is formed when the red line of IFX_QQE crosses the green line of the indicator upward. The upward crossing of 50 level by the green line is also considered as a buy signal.
2. A sell signal is created when the red line of IFX_QQE crosses the green line of the indicator downward. The downward crossing of 50 level by the green line also indicates a sell signal.
IIFX_QQE parameters:
SmoothFactor - 5
