The QQE (Quantitative Qualitative Estimation) Indicator is a modified version of the classic RSI. Instead of using raw RSI values directly, it applies a smoothing algorithm to the RSI output and then derives two lines from the result — Slow QQE and Fast QQE — calculated using fast and slow ATR multipliers respectively.
This additional processing layer serves a specific purpose: it reduces the indicator’s sensitivity to short-term price noise while preserving responsiveness to meaningful directional changes. The smoothing parameters are configurable — on smaller timeframes, higher smoothing values are typically used to compensate for the increased noise in tick-level data. The ATR-based calculation also reduces the lag that affects most RSI-derived tools, making the indicator applicable on timeframes below H1 without significant delay in condition registration.
The two resulting lines — Slow QQE and Fast QQE — oscillate between configurable overbought and oversold levels. Their relative position and crossover points are the primary analytical readings.
The indicator also includes a deal filter that restricts condition registration to the overbought and oversold zones — useful when the analytical focus is specifically on extended price conditions rather than mid-range crossovers.
The Slow QQE and Fast QQE lines move between the overbought and oversold zones, periodically crossing each other and the zone boundaries. The indicator registers conditions based on the following structural readings:
Both lines above 60 — bullish context is registered, reflecting dominant upward momentum across both QQE components.
Both lines below 40 — bearish context is registered, reflecting dominant downward momentum.
Lines crossing upward out of the oversold zone — a bullish condition is registered, indicating a potential shift from compressed to expanding upward momentum.
Lines crossing downward out of the overbought zone — a bearish condition is registered, indicating a potential shift from extended to contracting upward momentum.
Fast QQE (red line) crosses above Slow QQE (blue line) — a bullish crossover condition is registered.
Fast QQE (red line) crosses below Slow QQE (blue line) — a bearish crossover condition is registered.
The overbought/oversold filter — when enabled — restricts condition registration to crossovers that occur within or at the boundary of the defined zones, reducing the number of mid-range conditions that are registered.
The dashboard displays the current condition status across all monitored assets and timeframes in a single structured view.
Each cell shows the directional context of the most recently registered condition — bullish or bearish — and the number of bars back at which it was registered. Green cells indicate a bullish condition, red cells a bearish one. Color saturation decreases as the condition becomes less recent. Clicking any cell updates the chart to the corresponding asset and timeframe directly.
The indicator has the following parameters:
Assets — instruments to include in the scanner.
Enable_M1–MN — include or exclude individual timeframes from the scanner scope.
Max_bars — limits how far back the scanner evaluates conditions. Reducing this value improves calculation speed.
Enable alert / Enable email / Enable mobile — alert delivery: platform notifications, email, or mobile — each configurable independently.
Enable_overbought_oversold_filter — restricts condition registration to crossovers occurring within the overbought or oversold zones.
Overbought_level / Oversold_level — configures the threshold values that define the overbought and oversold zones.
SSF — RSI smoothing factor. Controls the degree of smoothing applied to the RSI before the QQE lines are derived.
Indicator Limitations
The QQE Indicator reflects calculations based on historical price data. The smoothing applied to the RSI reduces noise but also introduces a degree of lag — the degree depends on the configured smoothing factor. Registered conditions indicate that the defined line relationships have been met at that point in time — they do not predict future price movement or guarantee any particular market outcome. All readings should be evaluated within a broader analytical framework.
We can customize this indicator to your requirements by adding new features, modifying calculation logic, or combining multiple tools into a unified solution.
We also develop automated trading strategies (Expert Advisors) based on custom logic. The system can include configurable management modules such as dynamic risk parameters, multi-stage trailing stops, additional confirmation filters, and other custom functionality based on your specifications.
The final solution is delivered with full source code and post-delivery support. Contact us for a free consultation to discuss the scope and timeline of your project.
We are committed to the ongoing development and refinement of our indicators. If you’ve spotted a bug, feel that something essential is missing, or have ideas that could make the indicator even better, just send us a message. Your feedback helps us improve and deliver tools that truly meet traders’ needs.
Nordman Algorithms is a trade name of Nordman Algorithms OÜ (Reg. No. 14435535), registered in Tallinn, Estonia.
Software Nature & User Responsibility — Nordman Algorithms provides algorithmic software tools for technical analysis. Nordman Algorithms is not a financial advisor and is not liable for any losses. All trades conducted based on the software’s output are executed at the user’s sole discretion and risk.
Visual Markers & Signal Disclosure — This software may display visual markers (such as arrows, dots, or alerts) when predefined mathematical conditions are met. These markers are provided for educational and analytical purposes only, must not be interpreted as financial guidance, and do not constitute a recommendation to buy, sell, or hold any financial instrument. Users must independently validate all visual cues within their own trading methodology.
No Financial Advice — Nordman Algorithms does not provide discretionary trading signals, investment advice, or managed signal services. Our software represents a mathematical visualization of historical and real-time data. The appearance of a visual marker does not guarantee a profitable trade or predict future market behavior.
Trading Risk Warning — Futures, Forex, and options trading involve significant risk. Risk capital is money that can be lost without jeopardizing financial security. Only risk capital should be used for trading. Past performance is not indicative of future results. View Full Risk Disclosure: https://www.nordman-algorithms.com/risk-disclosure/
ESMA Risk Warning — Financial instruments, especially those involving leverage such as CFDs and Forex, are complex and carry a high risk of rapid financial loss. Our software provides analytical outputs and visual markers based on predefined mathematical conditions and does not mitigate or reduce inherent market risks. You should carefully consider whether you understand how leveraged financial instruments work and whether you can afford the high risk of losing your capital.
CFTC Rule 4.41 — Hypothetical or simulated performance results have inherent limitations. Unlike actual performance records, simulated results do not represent real trading. Because trades have not actually been executed, these results may under- or over-compensate for the impact of market factors such as liquidity. No representation is being made that any account will achieve profits or losses similar to those shown.
