OPEN-SOURCE SCRIPT
QQE / RSI
A indicator which combines the QQE indicator, which is a momentum based indicator to determine trend and sideways.
The Qualitative Quantitative Estimation (QQE) indicator works like a smoother version of the popular Relative Strength Index ( RSI ) indicator. QQE expands on RSI by adding two volatility based trailing stop lines. These trailing stop lines are composed of a fast and a slow moving Average True Range (ATR). These ATR lines are smoothed making this indicator less susceptible to short term volatility .
Along with it, i integrated the RSI indicator so both can be monitored simultaneously on one indicator.
This script had been inspired by Mihkel00 so go check him out.
The indicator is shown on the chart as columns, and the other "hidden" in the background which also has a 50 MA bollinger band acting as a zero line.
When both of them agree - you get a bullish or bearish bar
The Qualitative Quantitative Estimation (QQE) indicator works like a smoother version of the popular Relative Strength Index ( RSI ) indicator. QQE expands on RSI by adding two volatility based trailing stop lines. These trailing stop lines are composed of a fast and a slow moving Average True Range (ATR). These ATR lines are smoothed making this indicator less susceptible to short term volatility .
Along with it, i integrated the RSI indicator so both can be monitored simultaneously on one indicator.
This script had been inspired by Mihkel00 so go check him out.
The indicator is shown on the chart as columns, and the other "hidden" in the background which also has a 50 MA bollinger band acting as a zero line.
When both of them agree - you get a bullish or bearish bar
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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