QQE Alert MTF v5 Indicators is an oscillatory kid of an indicator. It oscillates giving the indication of either a down trend or an uptrend.
Oscillation indicators are sometimes the best indicators since they tend to indicate even the slightest swings in the market prices as compared to the trend indicators that only show the trend in the market. With the oscillatory indicators, they sing with the market.
Understanding the indicator.
Now back to the indicator! The QQE Alert MTF v5 indicator is displayed on a separate window below the main trading chart. It is made up of three lines that are of different colors. The three lines oscillate about a line. Unlike most of the other oscillatory indicators, this indicator oscillates about a line at a level of 50 of the vertical scale of the indicator’s chart rather than the zero line.
The vertical scale of the indicators window is dynamic rather than static. It varies depending on the market levels and trend.
Fig.1. The QQE Alert MTF v5 indicators.
The indicator also has alert capabilities of when the line crosses the level of fifty and when the lines cross. However this alerts are by default set as false meaning they are not given. It will need the trader to set them as true for them to be produced. These alerts can either be in the form of email, in the form of an alert sound or both depending on which you set as true.
The indicator is also responsible for providing pop up messages when the QQE lines cross the 50 level moving upwards or downwards, when the QQE lines cross each other up or down, when the QQE lines cross the 50 level upwards and the QQE line cross and when the QQE lines cross the 50 level downwards and the QQE line cross.
Using the QQE Alert MTF v5 indicators in placing and closing trades.
The trader should take note of when the QQE cross the fifty level either moving upwards or downwards. These are the trading signals. When the QQE crosses the 50 level downwards, the the trader should be prepared to place a sell order. When the QQE crosses the 50 level upwards, the the trader should be prepared to place a buy order.
You should note that the red line is below all the other lines when the QQE crosses the 50 level moving downwards and the same red line is above all other lines when the QQE crosses the 50 level moving upwards.
The trader should place his or her sell or buy in the beginning of the next candlestick that forms after the level of 50 is crossed.
Fig.2. Placing and closing orders using the QQE Alert MTF v5 indicators.
The sell order should be closed when any of the other lines cross the red line downwards while the buy order should be closed when any of the other lines crosses the red line upwards.
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