QQE Histogram Indicator MT5

The QQE Histogram Indicator MT5 is an enhanced version of the QQE technical indicator, incorporating several interesting features. It introduces discontinued signal line levels to provide additional insights into the trend, and it also includes color-changing histograms that correspond to these mentioned levels. Free download is available.

Sounds interesting? Let’s take a closer look at it.

QQE Histogram Indicator: Introduction

MT5 Indicator Overview

The download link of the QQE Histogram MT5 indicator is placed at the bottom of this post – once you’re done, your Metatrader 5 trading chart should look similar to the example below.

The standard QQE (Quantitative Qualitative Estimator) indicator consists of a smoothed Relative Strength Index (RSI) indicator, accompanied by two trailing levels based on fast and slow volatility. The QQE Histogram, a modified variant of this indicator, can be utilized in forex trading as it provides buy/sell signals through its color-changing feature.

QQE Histogram Explained

Follow these suggestions in trading with the QQE Histogram:

Buy Signal: Initiate a long position when the dark gray line of the QQE Histogram intersects the ascending deep sky blue line from the bottom.

Sell Signal: Initiate a short position when the dark gray line of the QQE Histogram crosses the descending light salmon line from the top.

Exit buy trade: Close all buy orders if, during a bullish trend, the light salmon QQE Histogram indicator line falls below the 50.00 level.

Exit sell trade: Close all sell orders if, during a bearish trend, the deep sky blue QQE Histogram indicator line rises above the 50.00 level.

MT5 Indicators: Download and Installation Instructions

Download the QQE Histogram Indicator MT5.rar archive at the bottom of this post, unpack it, then copy and paste the qqe-histogram.ex5 or qqe-histogram.mq5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL5 > Indicators (paste here).

Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Indicator Summary

The MT5 QQE Histogram indicator for MetaTrader is a favorable option for traders who prefer crossover signals as trade triggers. Additionally, this indicator offers intriguing features, including its ability to easily identify the direction of the trend through corresponding colors. It works well in conjuction with gauges like Keltner Channel or SSL. The indicator is available for free download and can be effortlessly installed.