QQE Cross Indicator Alert v2.0 by JustUncleL

This version of the indicator makes a distinction between the types of QQE cross alerts on the chart and now only recommends the Thresh Hold channel exit crosses for BUY/SELL alerts, the other two types of crosses are still there to provide pre-warning of pending BUY/SELL alerts. Also only the BUY/SELL alerts are filtered by Moving Average Filter and/or the new Directional filter (default). The default settings in this version have also been changed, particularly the Moving Averages, to indicate trend changes quicker.

Indicator Project Description:
*** This is a trend following indicator alert that uses fast QQE crosses with Moving Averages for trend direction filtering. QQE or Qualitative Quantitative Estimation is based on the relative strength index , but uses a smoothing technique as an additional transformation. Three crosses can be selected (all selected by default):
  • RSI signal crossing ZERO (XZERO)
  • RSI signal crossing Fast RSIatr line (XQQE)
  • RSI signal exiting the RSI Threshhold Channel (BUY/SELL)
The (BUY/SELL) alerts can be optionally filtered by the Moving Average Combo:
  • For BUY alert the Close must be above the fast MA and
    fast MA (EMA8) > medium MA (EMA20) > slow MA (SMA50).
  • For SELL alert the Close must be below the fast MA and
    fast MA (EMA8) < medium MA (EMA20) < slow MA (SMA50).
and/or Directional filter (default filter):
  • For BUY alert the Close must be above the slow MA (SMA50) and the directional MA (EMA20) must be green.
  • For SELL alert the Close must be below the slow MA (SMA50) and the directional MA (EMA20) must be red.
The XZERO and XQQE are not included in the filtering, they are used to indicate pending BUY/SELL alerts, particularly the XZERO.
Note: I have found the XQQE cross can also be quite good alert for BUY/SELL as well, particularly in direction of current trend. The XZERO I have found to be totally unreliable for BUY/SELL alerts.

This indicator should work on any currency pair, most chart timeframes and expiry in 3 to 6 candles for binary option trading. For hourly or longer charts expiry can be longer for binary options, or if available use standard forex trading techniques

Some Hints for using this indicator:
  • Avoid taking trades in non-trending market, this is normally indicated by a near Horizontal SMA50 line.
  • Avoid trading when all the moving averages are close together.
  • When trading 1min and 5min charts, expiry should set to 1-3 candles.
  • Avoid trading when market choppy, this is normally indicated by the fast EMA8 crossing the EMA20 back and forwards quickly.
  • High probability trades tend to occur when you get a XQQE followed by a XZERO and then BUY/SELL in the same direction of trend.
  • Don't trade near nor directly on any major market news (sometime better no trade day).
  • Please practise this system in DEMO first, before committing any real money. Be patient the more you practise the better and more confident you will be.
I hope you enjoy this indicator, it has proven very effective for me.
Release Notes: Release v4.0

  • Added implied GPL copyright notice.
  • Changed defaults to use HullMAs instead of EMAs.
  • Option for No repaint on BUY/SELL alert (Use Shunt), however, now trades should be taken when the BUY/SELL Alert is displayed. The alarm is still generated on the previous candle so you can still get a pre-warning, this enables you time to analyse the pending alert and can be controlled by the TradingView Alarm subsystem.
  • Changed some labeling names and colours.
  • Converted to version3 Pinescript.
  • Added extra alarms for each alert type.
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Hi JustUncleL! Thanks for this indicator - works great for me! Could you point me as to how to place an alarm?
I love the thought behind this indicator; however when I try to compile this for MT4, I receive two errors. Can you assist me in fixing my problems? Thanks in advance.

Description File Line Column
'type1' - declaration without type QQE_Alert.mq4 61 1
')' - unexpected end of program QQE_Alert.mq4 178 163
emmanueldesk ChrisCBerg
@ChrisCBerg, cant copy and paste the code into mt4
i cant use this strategy :( what is qqecross v2 bt justuncleL indicator, someone please help me !
JustUncleL ShayanJafarzadeh
@ShayanJafarzadeh, Try looking here

and here:


for a bit of an explanation of What this indicator is trying to show.
@JustUncleL, i meant to say it doesnt apply on my chart
+1 Reply
@JustUncleL, it just says qqecross v2 bt justuncleL indicator pine error
+1 Reply
so this does not repaint at all? may want to try to throw this on a haiken ashi chart. Just came across this, thank you for creating this!
JustUncleL adamwisni
@adamwisni, Whilst the current bar is building the alert can change on the bar, the idea is to wait for the current candle to complete or nearly complete. Alternatively wait for the dot to appear at bottom of the screen. There should be no re-painting of historical alerts. I use this indicator a lot and I have not come across any historical re-painting.
This is really great! Thanks for all the hard work @JustUncleL. I'm curious to where you derived your default settings from (6,3,2.618) since MT4 defaults to (8,3,1)?
Also, I see how the QQE crossover/under and zero cross signals are generated, but I'm wondering what is triggering the BUY and SELL signals? Thanks and keep up the great work :)
+1 Reply
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