BOSS Bullish/Bearish Quantitative Qualitative Estimation (QQE)

THE BEST FOREX, BINARY OPTIONS, AND CRYPTO INDICATORS FOR TRADINGVIEW.COM

This indicator is comprised by a smoothed Relative Strength Index and two trailing levels, based on volatility – Fast Trailing Level (Fast TL – the maroon line on the chart above) and Slow Trailing Level (Slow TL – the blue line on the chart above).

The two are determined by calculating the Average True Range (ATR) of the smoothed RSI during a specified number of periods, after which a further ATR smoothing is applied with the use of an additional n-periods Wilders smoothing function.

Ultimately, the RSI’s smoothed ATR is multiplied by the Fast and Slow ATR Multipliers in order to determine the final Fast and Slow Trailing Levels.

Trading the QQE buy and sell signals:

Buy Signal

Bullish crossover happens when Fast ATR TL crosses above Slow ATR TL. When this occurs a blue circle & blue candle will appear and a alert signal to buy is generated.

Sell Signal

Bearish crossover happens when Slow ATR TL crosses above Fast ATR TL. When this occurs a maroon circle & maroon candle will appear and a alert signal to sell is generated.

Bullish/Bearish Divergence Background

Green background indicates Bullish Divergence

Red background indicates Bearish Divergence

Overbought and Oversold Conditions

An overbought condition occurs, when the QQE is at or above its 0.10 level.

An oversold condition occurs, when the QQE is at or below its -.10 level.

Release Notes:

RSI Buy Signal

Bullish crossover happens when RSI crosses above Fast ATR TL . When this occurs a lime circle will appear and a alert signal to buy is generated.

RSI Sell Signal

Bearish crossover happens when RSI crosses below Fast ATR TL. When this occurs a orange circle will appear and a alert signal to sell is generated.

**RSI is Gray Line On Chart

Release Notes:

Changed Fast ATR Trailing Line Multiplier from 1.618 to 2.618

Release Notes:

updated bar color

Release Notes:

added candle color to correlate with bullish and bearish RSI crossovers

Release Notes:

added RSI cross candle color correlation

Release Notes:

black fish-eye = stay in short position
blue fish-eye = stay in long position
set alerts to once per bar
at mid-line crossover you will receive two alerts this indicates time to close long or short position and open a long or short position.