These are the archived posts for the QQE. The current thread can be found:
https://usethinkscript.com/threads/qqe-quantitative-qualitative-estimation-for-thinkorswim.938/
thinkScript Code
Code:
# QQE Indicator
# Converted by Kory Gill for BenTen at useThinkScript.com
# Original https://www.tradingview.com/script/zwbe2plA-Ghosty-s-Zero-Line-QQE/
declare lower;
input RSI_Period = 20;
input Slow_Factor = 5;
input QQE = 4.236;
def Wilder_Period = RSI_Period * 2 - 1;
def vClose = close;
def rsi = RSI(price = vClose, length = RSI_Period).RSI;
def rsi_ma = MovingAverage(AverageType.EXPONENTIAL, rsi, Slow_Factor);
def atr_rsi = AbsValue(rsi_ma[1] - rsi_ma);
def atr_rsi_ma = MovingAverage(AverageType.EXPONENTIAL, atr_rsi, Wilder_Period);
def dar = MovingAverage(AverageType.EXPONENTIAL, atr_rsi_ma, Wilder_Period) * QQE;
def DeltaFastAtrRsi = dar;
def RSIndex = rsi_ma;
def newshortband = RSIndex + DeltaFastAtrRsi;
def newlongband = RSIndex - DeltaFastAtrRsi;
def longband = if RSIndex[1] > longband[1] and RSIndex > longband[1]
then max(longband[1],newlongband)
else newlongband;
def shortband = if RSIndex[1] < shortband[1] and RSIndex < shortband[1]
then min(shortband[1], newshortband)
else newshortband;
def trend = if Crosses(RSIndex, shortband[1])
then 1
else if Crosses(longband[1], RSIndex)
then -1
else if !IsNAN(trend[1])
then trend[1]
else 1;
def FastAtrRsiTL = if trend == 1
then longband
else shortband;
plot pFastAtrRsiTL = FastAtrRsiTL;
plot pRsiMa = rsi_ma;
plot line50 = 50;
pFastAtrRsiTL.SetDefaultColor(CreateColor(225,109,47));
pRsiMa.SetDefaultColor(CreateColor(113,225,180));Learn more about the QQE indicator and how to trade it:
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