Normalized Quantitative Qualitative Estimation nQQE

Normalized version of Quantitative Qualitative Estimation QQE:

Normalized QQE tries to overcome the problems of false signals due to RSI divergences on the original QQE indicator.

The main purpose is to determine and ride the trend as far as possible.

So users can identify:

UPTREND : when nQQE Histogram is GREEN (nQQE is above 10)
DOWNTREND : when nQQE Histogram is RED (nQQE is below -10)
SIDEWAYS: when nQQE Histogram is YELLOW (nQQE is between -10 and 10)

Calculation is very simple;

RSI based QQE oscillates between 0-100

nQQE is simply calculated as:


to make the indicator fluctuate around 0 level to get more accurate signals.

Various alarms added.

Kıvanç Özbilgiç
Release Notes:
deleted dummy parts

Twitter: @kivancozbilgic

YouTube (Turkish):

YouTube (English):
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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