QQE Histogram Indicator
Platform: MT4 Type: Momentum Last update: October 17, 2024The QQE Histogram Indicator is another variation of the original QQE indicator, which was only used to show the QQE values. This gauge, as the name suggests, shows signals in the form of a histogram, demonstrating a clear momentum overview and overbought/oversold levels.
Trading rules with the qqe histogram
The QQE Histogram Indicator is very helpful for swing traders as it is known for identifying the price swing areas accurately, even during choppy, sideways or highly volatile market conditions. It uses the 10 and -10 levels to define the overbought/oversold states. That histogram bars are green, yellow, and red color. Additionally, it includes a 14-period RSI (green line) that offers a double confirmation for potential market reversals.
Buy Signal
Follow these steps for a long trade:
- The QQE Histogram rises above the 0 level
- The RSI shows positive value
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit trade when the readings drops below 10 level, or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- The QQE Histogram drops below the 0 level
- The RSI shows negative value
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last swing high of the market
- Take profit or exit trade when the readings rise above -10 level, or use your own method of trade exit
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