Quantitative Qualitative Estimation (QQE) Indicator for NinjaTrader® 8

Quantitative Qualitative Estimation (QQE) Indicator

The original QQE is based on Welles Wilder’s RSI ( Relative Strength Index ) indicator.  Our indicator is also built on RSI and has some additional options that make it more versatile.

QQE takes the RSI, smooths and plots it.  The absolute value in the change in smoothed RSI values from bar to bar is calculated and averaged twice and multiplied by a constant. This value is also plotted creating intersecting points between the two plots where price action is predicted to reverse.




Our QQE has an option that permits users to plot difference between the two plots.  Here we see that in a blue histogram.



Users can plot both modes together:


In addition, our QQE allows users to substitute several other oscillators in place of the RSI.

How to use

How the QQE is used varies from trader to trader. 

Some use it as a trend indicator.  RSI values or smoothed RSI values above or below the 50 level will hold in a long trend thus confirming the trend or invalidating it should the 50 level be breeched.