Quantitative Qualitative Estimation (QQE)
Yet another QQE!
For those who don't know the QQE is just the Supertrend applied to a smoothed RSI oscillator.
True Range calculated as the absolute value of the difference between the current Smoothed RSI value and the previous Smoothed RSI value. The ATR value is then obtained using a normal RMA applied to the true range value. Another RMA is then applied to the ATR value to obtain a smoothed ATR value.
From there on out it's just your normal Supertrend up / down logical statements.
Hint: the Supertrend can be applied to any oscillator.