What is qqe-indicator?
qqe-indicator is an MT4 indicator that applies smoothing to RSI so the reading moves more evenly. The reading is drawn as a green line with a red trailing line beside it.
How to use qqe-indicator
Arrows on the chart appear when the green line crosses the red trailing line. A cross upward prints the buy-side arrow and a cross downward prints the sell-side arrow, and separate settings can print arrows on a zero-line cross and raise a message, a sound, a push notification, or an email.
Where it helps
MT4 Indicator Parameters
The table below lists the available MT4 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| SF | Sets the smoothing coefficient applied to RSI. |
| RSIPeriod | Sets the RSI period; a larger value makes the line respond more slowly. |
| WP | Sets the width of the trailing line. |
| UpperBound | Sets the upper bound used to mark the overbought side. |
| LowerBound | Sets the lower bound used to mark the oversold side. |
| _ | Section label for the alert settings group. |
| alertsOn | Turns the alert function on or off. |
| alertsOnZeroCross | Controls whether an alert is raised on a zero-line cross. |
| alertsOnSignalCross | Controls whether an alert is raised on a signal-line cross. |
| alertsOnCurrent | Controls whether the alert is raised on the current bar. |
| alertsMessage | Controls whether a message is shown with the alert. |
| alertsSound | Controls whether a sound is played with the alert. |
| alertsNotify | Controls whether a push notification is sent. |
| alertsEmail | Controls whether an email notification is sent. |
| soundFile | Specifies the sound file used for the alert. |
| arrowsVisible | Controls whether arrows are shown on the chart. |
| arrowsIdentifier | Sets the identifier used to tell the arrows apart on the chart. |
| arrowsDisplacement | Sets how far the arrow is offset from the candle. |
| arrowsOnZeroCross | Controls whether an arrow is drawn on a zero-line cross. |
| arrowsUpZeroCrossColor | Sets the color of the upward zero-cross arrow. |
| arrowsDnZeroCrossColor | Sets the color of the downward zero-cross arrow. |
| arrowsUpZeroCrossCode | Sets the symbol code of the upward zero-cross arrow. |
| arrowsDnZeroCrossCode | Sets the symbol code of the downward zero-cross arrow. |
| arrowsUpZeroCrossSize | Sets the size of the upward zero-cross arrow. |
| arrowsDnZeroCrossSize | Sets the size of the downward zero-cross arrow. |
| arrowsOnSignalCross | Controls whether an arrow is drawn on a signal-line cross. |
| arrowsUpSignalColor | Sets the color of the buy-side signal arrow. |
| arrowsDnSignalColor | Sets the color of the sell-side signal arrow. |
| arrowsUpSignalCode | Sets the symbol code of the buy-side signal arrow. |
| arrowsDnSignalCode | Sets the symbol code of the sell-side signal arrow. |
| arrowsUpSignalSize | Sets the size of the buy-side signal arrow. |
| arrowsDnSignalSize | Sets the size of the sell-side signal arrow. |
The screenshot above shows the default input parameters in the MT4 settings window.
How to Install .ex4 Indicator in MetaTrader 4
- Download the ZIP file and extract it.
- In MT4, select File → Open Data Folder.
- Open MQL4 → Indicators and copy the EX4 or MQ4 file into it.
- If the package includes library files, copy them to MQL4 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT4, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
