I'm looking for a QQE MT4 indicator that can provide similar signals to this one from TradingView. I'm new to using QQE, and I know there is a QQE thread, but there are so many variants, and I don't know which indicator to use to get the same result as this one. Any help would be appreciated.
QQE MOD
https://www.tradingview.com/v/TpUW4muw/
I've been doing some backtesting on it, and I've been getting good results when using it for confirmation on the 5min. Unfortunately, because it's a TradingView indicator and I don't have a paid subscription on Tview, I can't backtest as much as I'd like to. It doesn't have to look the same visually, just have similar settings that can provide the same signals.
Code: Select all
//@version=6
indicator("QQE MOD", overlay=false, max_lines_count=1)
// === PRIMARY QQE SETTINGS ===
group_primary = "Primary QQE Settings"
rsiLengthPrimary = input.int(6, title="RSI Length", group=group_primary)
rsiSmoothingPrimary = input.int(5, title="RSI Smoothing", group=group_primary)
qqeFactorPrimary = input.float(3.0, title="QQE Factor", group=group_primary)
thresholdPrimary = input.float(3.0, title="Threshold", group=group_primary)
sourcePrimary = input.source(close, title="RSI Source", group=group_primary)
// === SECONDARY QQE SETTINGS ===
group_secondary = "Secondary QQE Settings"
rsiLengthSecondary = input.int(6, title="RSI Length", group=group_secondary)
rsiSmoothingSecondary = input.int(5, title="RSI Smoothing", group=group_secondary)
qqeFactorSecondary = input.float(1.61, title="QQE Factor", group=group_secondary)
thresholdSecondary = input.float(3.0, title="Threshold", group=group_secondary)
sourceSecondary = input.source(close, title="RSI Source", group=group_secondary)
// === BOLLINGER BANDS SETTINGS ===
group_bollinger = "Bollinger Bands Settings"
bollingerLength = input.int(50, minval=1, title="Length", group=group_bollinger, tooltip="The length of the Bollinger Bands calculation.")
bollingerMultiplier = input.float(0.35, step=0.1, minval=0.001, maxval=5, title="Multiplier", group=group_bollinger, tooltip="The multiplier used to calculate Bollinger Band width.")
// === FUNCTIONS ===
// Calculate QQE Bands
calculateQQE(rsiLength, smoothingFactor, qqeFactor, source) =>
wildersLength = rsiLength * 2 - 1
rsi = ta.rsi(source, rsiLength)
smoothedRsi = ta.ema(rsi, smoothingFactor)
atrRsi = math.abs(smoothedRsi[1] - smoothedRsi)
smoothedAtrRsi = ta.ema(atrRsi, wildersLength)
dynamicAtrRsi = smoothedAtrRsi * qqeFactor
// Initialize variables
longBand = 0.0
shortBand = 0.0
trendDirection = 0
// Calculate longBand, shortBand, and trendDirection
atrDelta = dynamicAtrRsi
newShortBand = smoothedRsi + atrDelta
newLongBand = smoothedRsi - atrDelta
longBand := smoothedRsi[1] > longBand[1] and smoothedRsi > longBand[1] ? math.max(longBand[1], newLongBand) : newLongBand
shortBand := smoothedRsi[1] < shortBand[1] and smoothedRsi < shortBand[1] ? math.min(shortBand[1], newShortBand) : newShortBand
longBandCross = ta.cross(longBand[1], smoothedRsi)
if ta.cross(smoothedRsi, shortBand[1])
trendDirection := 1
else if longBandCross
trendDirection := -1
else
trendDirection := trendDirection[1]
// Determine the trend line
qqeTrendLine = trendDirection == 1 ? longBand : shortBand
[qqeTrendLine, smoothedRsi]
// === MAIN CALCULATIONS ===
// Calculate Primary QQE
[primaryQQETrendLine, primaryRSI] = calculateQQE(rsiLengthPrimary, rsiSmoothingPrimary, qqeFactorPrimary, sourcePrimary)
// Calculate Secondary QQE
[secondaryQQETrendLine, secondaryRSI] = calculateQQE(rsiLengthSecondary, rsiSmoothingSecondary, qqeFactorSecondary, sourceSecondary)
// Calculate Bollinger Bands for the Primary QQE Trend Line
bollingerBasis = ta.sma(primaryQQETrendLine - 50, bollingerLength)
bollingerDeviation = bollingerMultiplier * ta.stdev(primaryQQETrendLine - 50, bollingerLength)
bollingerUpper = bollingerBasis + bollingerDeviation
bollingerLower = bollingerBasis - bollingerDeviation
// Color Conditions for Primary RSI
rsiColorPrimary = primaryRSI - 50 > bollingerUpper ? color.new(#00c3ff, 0) : primaryRSI - 50 < bollingerLower ? color.new(#ff0062, 0) : color.new(#707070, 20)
// Color Conditions for Secondary RSI
rsiColorSecondary = secondaryRSI - 50 > thresholdSecondary ? color.new(#707070, 20) : secondaryRSI - 50 < -thresholdSecondary ? color.new(#707070, 20) : na
// === PLOTTING ===
// Plot Primary and Secondary QQE Lines
plot(secondaryQQETrendLine - 50, title="Secondary QQE Trend Line", color=color.white, linewidth=2)
plot(secondaryRSI - 50, color=rsiColorSecondary, title="Secondary RSI Histogram", style=plot.style_columns)
// Plot Signal Highlights
plot(secondaryRSI - 50 > thresholdSecondary and primaryRSI - 50 > bollingerUpper ? secondaryRSI - 50 : na, title="QQE Up Signal", style=plot.style_columns, color=#00c3ff)
plot(secondaryRSI - 50 < -thresholdSecondary and primaryRSI - 50 < bollingerLower ? secondaryRSI - 50 : na, title="QQE Down Signal", style=plot.style_columns, color=#ff0062)
// Plot Zero Line
hline(0, title="Zero Line", color=color.white, linestyle=hline.style_dotted)
// === ALERTS ===
// Alerts for Zero Crosses
alertcondition(ta.crossover(primaryRSI, 50), title="Primary RSI Cross Above Zero", message="Primary RSI crossed above zero")
alertcondition(ta.crossunder(primaryRSI, 50), title="Primary RSI Cross Below Zero", message="Primary RSI crossed below zero")
