RSI of MAsRSI of MAs is designed to calculate the moving average for a specific period, and then take the RSI of that value. This script allows the user to select which moving average they would like to utilize for the calculation, as well as customizing how the Signal Line is calculated. There are many combinations available and you will need to tune the indicator to fit your trading style. The Signal Line is designed to indicate when there is a potential change in price action. If the Signal Line is below RSIoMA, price is bullish. If the Signal Line is above RSIoMA, price is bearish.
MA Period is the length/period the moving average is calculated with
RSI Period is the length/period the RSI is calculated with
RSI MA Mode determines which moving average is applied to the MA period
Signal Line determines which moving average or QQE is used to calculate the signal line
Signal Line Period is the length/period the Signal Line is calculated with
As always, trade at your own risk.
Multiple MA Options Credits to @Fractured
Signal Line Options Credits to @lejmer
Bits and Pieces from @AlexGrover, @Montyjus, and @Jiehonglim
Nnfx
VQZL Z-ScoreVolatility Qaulity Zero Line attempts to keep a trader out of ranging markets, but the original calculation on TradingView had to be adjusted for each instrument. To avoid this issue, I have applied a z-score calculation to the VQZL so the result is standardized for all instruments. A Z-Score is simply a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean.
This calculation allows us to compare current volatility to the mean (moving average) of the population (Z-Length). The closer the VQZL Z-Score is to the mean, the closer it will be to the Zero Line and therefore price is likely consolidating and choppy. The farther VQZL Z-Score is from the mean, the more likely price is trending.
The MA Mode determines the Moving Average used to calculate VQZL itself. The Z-Score is ALWAYS calculated with a simple moving average (as that is the standard calculation for Z-Score).
The Threshold Levels are the levels at which VQZL Z-Score will change from gray to yellow, orange, green (bullish), or red (bearish). These levels can be adjusted but you should adjust the Threshold Lines as well (in the style section), so they line up with your adjusted values.
Statistically speaking, confidence levels in relation to Z-Score are noted below. The built in Threshold Levels are the positive and negative values for 90%, 95%, and 99%. This would indicate when volatility is greater than these values they are out of the ordinary from the standard range. You may wish to adjust these levels for VQZL Z-Score to be more responsive to your trading need
80% :: 1.28
85% :: 1.44
90% :: 1.64
95% :: 1.96
99% :: 2.58
As always, trade at your own risk.
VQZL Created by Investo And Adapted From @sarangab
Multiple MA Options Credits to @Fractured
Bits and Pieces from @AlexGrover and @Montyjus
[GM ELITE] Dynamic - Setup AssistantAdditional Tool for Customers of Dynamic. Over 20 indicators built in. Separate Indicator windows to help setup GM Dynamic Algorithm. Toggle which indicator you want to view.
[GM ELITE] Dynamic_Introduction
This is the first of the GM ELITE indicator range. Designed for Algorithmic Traders looking to speed up their process of testing and optimizing their algorithm. This script contains an entire suite of indicators, that work together in unison to find optimal trade entries, based on NNFX rules. There are two versions of this script. One is a strategy and built in back-tester, and the other will update in real time designed for live trading and forward testing.
This script is for live trading/forward testing.
Entries/Exits
The System has 5 indicator slots, and the user can choose one indicator per slot
- Trend Confirmation Indicators to pick when the market has taken off
- Volume and volatility Indicators to determine the strength of the trend or whether the market is ranging.
- Moving Averages for trend bias
- Exit Indicators to signal when to get out!
Money Management
Dynamic allows you to choose your Stop Loss and Take Profit distance based on a multiplier x ATR.
Options to exit the whole trade at TP or at a signal from the exit indicator of your choosing.
Start and End times (Window) to backtest.
Forex - $EVZ
Euro Volatility FX Vix ( aka $EVZ) is built in. You can toggle a filter for low $EVZ or whether or not EVZ is above average. No signals will be given if EVZ is below threshold. EVZ is one of the best indicators of overall forex market volume and volatility .
Customization
Several visual and color customization options. Thousands of possible parameter combinations.
The "bias" or mode of the Confirmation Indicators appears at the top and bottom of the screen as horizontal rows of triangles.
For any two-line Indicator (eg MACD ) if the fast line is above the slow line, the triangles are green, other-wise, they are red.
For any "Level Cross" indicator, when the line is above the level, the triangles are green, otherwise, they are red.
The Arrows at the bottom of the screen determine whether or not there is sufficient volume
[GM ELITE] Dynamic Introduction
This is the first of the GM ELITE indicator range. Designed for Algorithmic Traders looking to speed up their process of testing and optimizing their algorithm. This script contains an entire suite of indicators, that work together in unison to find optimal trade entries, based on NNFX rules. There are two versions of this script. One is a strategy and built in back-tester, and the other will update in real time designed for live trading and forward testing.
Entries/Exits
The System has 5 indicator slots, and the user can choose one indicator per slot
- Trend Confirmation Indicators to pick when the market has taken off
- Volume and volatility Indicators to determine the strength of the trend or whether tha market is ranging.
- Moving Averages for trend bias
- Exit Indicators to signal when to get out!
Money Management
Dynamic allows you to choose your Stop Loss and Take Profit distance based on a multiplier x ATR.
Options to exit the whole trade at TP or at a signal from the exit indicator of your choosing.
Start and End times (Window) to backtest.
Forex - $EVZ
Euro Volatility FX Vix (aka $EVZ) is built in. You can toggle a filter for low $EVZ or whether or not EVZ is above average. No signals will be given if EVZ is below threshold. EVZ is one of the best indicators of overall forex market volume and volatility.
Customization
Several visual and color customization options. Thousands of possible parameter combinations.
The "bias" or mode of the Confirmation Indicators appears at the top and bottom of the screen as horizontal rows of triangles.
For any two-line Indicator (eg MACD ) if the fast line is above the slow line, the triangles are green, other-wise, they are red.
For any "Level Cross" indicator, when the line is above the level, the triangles are green, otherwise, they are red.
The Arrows at the bottom of the screen determine whether or not there is sufficient volume
Out of the Box
The Indicators and parameters out of the box are chosen based on defaults. Please optimize for the market that you trade.My recommendation is to paper trade once you have found a combination of settings with good back-testing results, and have different settings for different markets, as not all markets behave in the same manner.
Forex Daily Trading - NNFX StyleHere is my implementation of the No Nonsense Forex way of trading.
I've tried to apply most of VP's rules to the best of my coding abilities. As of now, with default settings, the strategy does not perform exceptionally well - however I'm pretty confident there is a combination of settings that will make it profitable across all pairs, and maybe even commodities.
If anyone can find some good performing settings for this strategy please let me know and I'll provide the full logic and all indicators within the strategy. Also, if you have any suggestions of any indicators you feel could improve this strategy let me know and I'll update.
If anything doesn't make sense/doesn't work, or if you just need some more information please just let me know. Enjoy!
BERLIN Renegade - Entry and ExitThis is the entry and exit part of a larger algorithm called the "BERLIN Renegade". It is based on the NNFX way of trading, with some modifications.
For entry, it consists of Modified Chaikin Oscillator and Advanced MACD. The Advanced MACD is not available on its own, but all others are publically
available.
For exit it consists of the DIDI Index and the QQE line (original idea by Jie). Special thanks to Michael Kuczynski for the idea to include the FTLM digital filter.
Long signal: Green bars (upper and lower are both green)
Short signal: Red bars (upper and lower are both red)
Exit signal: Purple bars (bottom) - DIDI Index with QQE line
BERLIN Renegade - Baseline & RangeThis is the baseline and range candles part of a larger algorithm called the "BERLIN Renegade". It is based on the NNFX way of trading, with some modifications.
The baseline is used for price crossover signals, and consists of the LSMA. When price is below the baseline, the background turns red, and when it is above the baseline, the background turns green.
It also includes a modified version of the Range Identifier by LazyBear. This version calculates the same, but draws differently. It remove the baseline signal color if the Range Identifier signals there is a possible trading range forming.
The main way of identifying ranges is using the BERLIN Range Index. A panel version of this indicator is included in another part of the algorithm, but the bar color version is included here, to make the ranges even more visible and easier to avoid.
Uber ASH - Absolute Strength Histogram [UTS]The Absolute Strength Histogram is an indicator that measures the current strength in market.
If the red line crosses the green line the bears are in control. If the green line crosses the red the market is in favor of the bulls.
General Usage
Signals are created on line cross. They that can be used to EXIT or LONG/SHORT a trade.
It is worth investing the time and fine-tune the settings: e.g. SuperSmoothed 16 and HMA 40 provides decent results.
The colored histogram visualizes if any "strength" is existent and if a trend reversal can become more likely.
Alerts
Traders can easily use the reversal signal to trigger alerts from:
Cross Up
Cross Down
Those values are > zero if a condition is triggered.
Alert condition example: "Cross Up" - "Greater Than" - "0"
Calculation methods
The market “strength” can be calculated in three different ways:
ADX
RSI
STOCHASTIC (default)
Moving Averages
16 different Moving Averages are available:
ALMA (Arnaud Legoux Moving Average)
DEMA (Double Exponential Moving Average)
EMA (Exponential Moving Average)
FRAMA (Fractal Adaptive Moving Average)
HMA (Hull Moving Average)
JURIK (Jurik Moving Average)
KAMA (Kaufman Adaptive Moving Average)
Kijun (Kijun-sen / Tenkan-sen of Ichimoku)
LSMA (Least Square Moving Average)
RMA (Running Moving Average)
SMA (Simple Moving Average)
SuperSmoothed (Super Smoothed Moving Average)
TEMA (Triple Exponential Moving Average)
VWMA (Volume Weighted Moving Average)
WMA (Weighted Moving Average)
ZLEMA (Zero Lag Moving Average)
A freely determinable length allows for sensitivity adjustments that fits your own requirements.
Uber REX Oscillator [UTS]The Rex Oscillator measures market behavior based on the relationship of the close to the open, high and low values of the same bar. A big difference between the high and close on a bar indicates weakness, and wide disparity between the low and close indicates strength. The difference between open and close also indicates market performance.
When the Rex Oscillator turns positive in a bearish trend, a reversal is indicated. Likewise, Rex turning negative in a bull market indicates a reversal to the downside.
General Usage
The Rex Oscillator is mostly used as a Reversal and Exit indicator.
Signals are created when Rex is crossing the Signal line. They that can be used to EXIT or LONG/SHORT a trade.
It is worth investing the time and fine-tune the settings: e.g. SuperSmoothed 16 and HMA 40 provides decent results.
Moving Averages
16 different Moving Averages are available:
ALMA (Arnaud Legoux Moving Average)
DEMA (Double Exponential Moving Average)
EMA (Exponential Moving Average)
FRAMA (Fractal Adaptive Moving Average)
HMA (Hull Moving Average)
JURIK (Jurik Moving Average)
KAMA (Kaufman Adaptive Moving Average)
Kijun (Kijun-sen / Tenkan-sen of Ichimoku)
LSMA (Least Square Moving Average)
RMA (Running Moving Average)
SMA (Simple Moving Average)
SuperSmoothed (Super Smoothed Moving Average)
TEMA (Triple Exponential Moving Average)
VWMA (Volume Weighted Moving Average)
WMA (Weighted Moving Average)
ZLEMA (Zero Lag Moving Average)
A freely determinable length allows for sensitivity adjustments that fits your own requirements.
Alerts
Traders can easily use the reversal signal to trigger alerts from:
Cross Up
Cross Down
Those values are > zero if a condition is triggered.
Alert condition example: "Cross Up" - "Greater Than" - "0"
Trend Visualization
Optional: If the signal line trend direction is DOWN it is painted red. If the trend direction is UP the signal line is painted in green.
Uber SSL Indicator [UTS]The SSL Indicator is the non-chart overlay version of the well known SSL Channel.
It is considered as a mighty breakout and trend-following indicator and also assumed as TOP 100 Forex indicator and was featured by VP of No Nonsense Forex.
General Usage
A zero-line cross (color changes as well) is assumed as ENTRY signal and the trader can open a LONG/SHORT position following the trend direction.
Such a signal is also always an EXIT signal for currently active trades
Display Style
Three different display styles are available:
Area
Histogram (default)
Line Break
Moving Averages
16 different Moving Averages are available:
ALMA (Arnaud Legoux Moving Average)
DEMA (Double Exponential Moving Average)
EMA (Exponential Moving Average)
FRAMA (Fractal Adaptive Moving Average)
HMA (Hull Moving Average)
JURIK (Jurik Moving Average)
KAMA (Kaufman Adaptive Moving Average)
Kijun (Kijun-sen / Tenkan-sen of Ichimoku)
LSMA (Least Square Moving Average)
RMA (Running Moving Average)
SMA (Simple Moving Average)
SuperSmoothed (Super Smoothed Moving Average)
TEMA (Triple Exponential Moving Average)
VWMA (Volume Weighted Moving Average)
WMA (Weighted Moving Average)
ZLEMA (Zero Lag Moving Average)
A freely determinable length allows for sensitivity adjustments that fits your own requirements.
Alerts
Traders can easily use the trend change signals to trigger alerts from:
Up Signal
Down Signal
Those values are > zero if a condition is triggered.
Alert condition example: "Up Signal" - "GreaterThan" - "0"
Uber SSL Channel [UTS]The SSL channel is a mighty breakout and trend-following indicator.
It is assumed as TOP 100 Forex indicator and was featured by VP of No Nonsense Forex.
General Usage
A SSL Moving Averages cross (color changes as well) is assumed as ENTRY signal and the trader can open a position following the trend direction.
Such a signal is also always an EXIT signal for currently active trades.
Moving Averages
16 different Moving Averages are available:
ALMA (Arnaud Legoux Moving Average)
DEMA (Double Exponential Moving Average)
EMA (Exponential Moving Average)
FRAMA (Fractal Adaptive Moving Average)
HMA (Hull Moving Average)
JURIK (Jurik Moving Average)
KAMA (Kaufman Adaptive Moving Average)
Kijun (Kijun-sen / Tenkan-sen of Ichimoku)
LSMA (Least Square Moving Average)
RMA (Running Moving Average)
SMA (Simple Moving Average)
SuperSmoothed (Super Smoothed Moving Average)
TEMA (Triple Exponential Moving Average)
VWMA (Volume Weighted Moving Average)
WMA (Weighted Moving Average)
ZLEMA (Zero Lag Moving Average)
A freely determinable length allows for sensitivity adjustments that fits your own requirements.
Alerts
Traders can easily use the trend change signals to trigger alerts from:
Up Signal
Down Signal
Those values are > zero if a condition is triggered.
Alert condition example: "Up Signal" - "GreaterThan" - "0"
[GM PRO] TDFITrend Direction and Force Index
Perhaps one of the biggest problems trend traders face is timing their entries and exits around consolidation periods. These Periods also tend to have lower than average volume. For any market where volume is unknown (eg forex) TDFI can act as a substitute. Volatility and Volume go hand in hand.
What if there was an indicator that could calculate the "force" of movement and keep you out of these flat, sideways markets?
I have taken the TDFI and added more parameters and features to help you find the optimal settings for your Algorithmic Trading System.
Speed things up and you get sharper entries - however, you will likely be faked out more often.
Slowed down, it is one of the best "Chop Filters" you will find ... at the expense of optimal entries.
If you tune it right, it will ELIMINATE many false signals from your entry confirmation indicators
[GM Lite] BaselineBaseline
This indicator allows you to choose different styles of moving averages from a drop-down. The PRO version has over 15 different MA modes and calibration settings.
Designed for Algorithmic Trading.
[GM PRO] Baseline Baseline
Designed for Algorithmic Trading.
This indicator contains over 15 different styles of Moving Averages that you can select from a drop-down, and more will be added on request.
Includes Hull, Jurik, AMA to name a few.
Many customization options
Some Features include
- Bar colors based on trend
- ATR trend channels
- Crossovers highlighted with Arrows, vertical lines, or bar colors
- Different visual options and colors
Trend Follower - Light Mode | jhFollow up script for my Trend Follower script.
I'm used to dark mode, so I coded a few key plots in white, so those are changed into black on the script.
Notably:
- > 1 ATR in black dots along the baseline
- Current and previous ATR text labels to the right of the price
- A text label spacing input that allows you to adjust the spacing for text label from price.
This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.
1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- www.tradingview.com
- Alex Grover - Modular Filter
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That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.
2. Volume/Volatility, I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
-------
My modification and other info here
- Absolute Strength Histogram v2
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I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness
3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
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Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.
Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
-------
ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
-------
The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR
Trend Follower | jhThis is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.
1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- www.tradingview.com
- Alex Grover - Modular Filter
-------
That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.
2. Volume/Volatility, I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
-------
My modification and other info here
- Absolute Strength Histogram v2
-------
I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness
3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
-------
Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.
Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
-------
ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
-------
The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR
Adding my Didi and ASH indicators up on this screenshot
Didi Index Improved with QQE
SSL HybridThis script is designed for the NNFX Method, so it is recommended for Daily charts only.
Tried to implement a few VP NNFX Rules
This script has a SSL / Baseline (you can choose between the SSL or MA), a secondary SSL for continiuation trades and a third SSL for exit trades.
Alerts added for Baseline entries, SSL2 continuations, Exits.
Baseline has a Keltner Channel setting for "in zone" Gray Candles
Added "Candle Size > 1 ATR" Diamonds from my old script with the criteria of being within Baseline ATR range.
Credits go to:
Strategy causecelebre www.tradingview.com
SSL Channel ErwinBeckers www.tradingview.com
Moving Averages jiehonglim www.tradingview.com
Moving Averages everget www.tradingview.com
"Many Moving Averages" script Fractured www.tradingview.com
ACTION Locator v2.0The indicator is based on making the standard deviation (where the mean is a moving average) a two-lines cross indicator, by applying an MA over it. When the standard deviation is above the MA, there is considered to be enough volatility in the market for trends to form.
Blue background = There is ACTION in the market -- signals it should be safe to trade
Gray background = No ACTION - DO NOT TRADE!
Centerline SupertrendA centerline/non-chart indicator version of Everget's Supertrend script for use in NNFX-style indicator setups, with the emphasis on this indicator NOT adding visual clutter to the main charting area with a baseline indicator already present.
This is literally the EXACT same script as Everget's Supertrend, but not drawn on the chart and with the fill/stop and fill/state level removed.
Adjust to your timeframe/asset and backtest/forward-test accordingly.
Source script by Everget (Supertrend):
Baseline-C [ID: AC-P]The "AC-P" version of jiehonglim's NNFX Baseline script is my personal customized version of the NNFX Baseline concept as part of the NNFX Algorithm stack/structure for 1D Trend Trading for Forex. Everget's JMA implementation is used for the baseline smoothing method, with optional ATR bands at 1.0x and 1.5x from the baseline.
NNFX = No Nonsense Forex
Baseline = Component of the NNFX Algorithm that consists of a single moving average
Baseline ---> Meant to be used in conjunction with ATR/C1/C2/Vol Indicator/Exit Indicator as per NNFX Algorithm setup/structure. C1 is 1st Confirmation Indicator, C2 is 2nd Confirmation Indicator.
JMA (Jurik Moving Average) is used for the baseline and slow baseline.
A slow baseline option is included, but disabled by default.
The faint orange/purple lines are 1.0x/1.5x ATR from the Baseline, and are what I use as potential TP/SL targets or to evaluate when to stay out of a trade (chop/missed entry/exit/other/ATR breach), depending on the trade setup (in conjunction with C1/C2/Vol Indicator/Exit Indicator)
This script is heavily based upon jiehonglim's NNFX Baseline script for signaling, barcoloring, and ATR.
SSL Channel option included but disabled by default (Erwinbeckers SSL component)
POC (Point of Control) from Volume Profile is included/enabled by default for both the current timeframe and 12HR timeframe
03.freeman's InfoPanel Divergence Indicator was used a reference to replace the current/previous ATR information infopanel/info draw from jiehonglim's script. I'm not sure whether I like the previous way ATR info was displayed vs how I have it currently, but it's something that is completely optional:
Specifically: I am tuning this baseline/indicator for 1D trading as part of the NNFX system, for Forex.
DO NOT USE THIS INDICATOR WITHOUT PROPER TUNING/ADJUSTMENT for your timeframe and asset class.
Note about lack of alerts:
Alerts for baseline crosses (and other crosses) have been purposefully omitted for this version upon initial publication. While getting alerts for baseline crosses under certain conditions/filtered conditions that eliminate low-importance signals and crossover whipsaw would be great, it's something I'm still looking into.
SPECIFICALLY: There are entry, exit, take profit, and continuation signal components in relation to the Baseline to the rest of the NNFX Algorithm stack (ATR/C1/C2/Vol Indicator/Exit Indicator), including but limited to the "1 candle rule" and the "7 candle rule" as per NNFX.
Implementing alerts that are significant that also factor in these rules while reducing alert spam/false signals would be ideal, but it's also the HTF/Daily chart - visually, entry/exit/continuation signal alignment is easy to spot when trading 1D - alerts may be redundant/a pursuit in diminishing returns (for now).
//-------------------------------------------------------------------
// Acknowledgements/Reference:
// jiehonglim, NNFX Baseline Script - Moving Averages
//
// Fractured, Many Moving Averages
//
// everget, Jurik Moving Average/JMA
//
// 03.freeman, InfoPanel Divergence Indicator
//
// Ggqmna Volume stops
//
// Libertus RSI Divs
//
// ChrisMoody, CM_Price-Action-Bars-Price Patterns That Work
//
// Erwinbeckers SSL Channel
//
iTrends | jhMT4 iTrends ported over.
Adapted Bulls/Bears Power from HPotter indicator. I can't confirm if that represents the iBullsPower/iBearsPower function from MT4.
Do try and provide your feedback !
QQE Trailing Line for Trailing Stop | jhUsing parts of QQE (Qualitative Quantitative Estimation) again, this time I'm applying the trailing line of QQE on price directly.
Outcome, it's behaving like a baseline filter and it can be use as an exit or a trailing stop indicator.
As comparing to Kijun-sen line in yellow, the QQE trailing line follows the price closer, therefore exiting you sooner when the trend direction changes.
There's 2 QQE option, they behave differently during the trend change.
Credits to Glaz and Shizaru for their QQE code.
