Exported using NT Version 7.0.1000.12
This is the QQE (Quantitative Qualitative Estimation) indicator. The origin of this indicator is unclear, it is a mystery indicator derived from Welles Wilder's RSI.
The main plot of the QQE is a smoothed RSI. The indicator then measures the amount of the absolute change between two consecutive values of the smoothed RSI. The absolute changes are then double-smoothed exponentially. The double smoothed value is then multiplied by two user defined multipliers. The result is then used to calculate a fast and a slow trigger line.
Entry and exit signals: Watch out for crosses of the smoothed RSI and one of the trigger lines.
Trend Filter: When the smoothed RSI is above or below the midline (50), this is an indication for an uptrend or downtrend.
Divergences: The main plot of the indicator is a smoothed RSI and can be used to detect divergences between momentum and price.
The attached version of the QQE is entirely recoded, as the QQE which is currently available for NinjaTrader had a few shortcomings. In particular, this indicator uses fewer DataSeries objects, creates instances of the RSI and EMA in OnStartUp(), has a second trigger line added, allows to select the multipliers for the trigger lines and also allows to set the momentum smoothing period independently from the RSI period. Usually for the momentum smoothing period the value 2*RSI_period - 1 is used.
Category NinjaTrader 7 Indicators
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