QQE (Quantitative Qualitative Estimation) for ThinkorSwim

CoachT

CoachT

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@BenTen Is it possible to modify this script so that the pRsiMA revolves around the 50 line ? If so, how could I do this ?
 
BenTen

BenTen

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@CoachT What do you mean by "resolves around the 50 line"?
 
CoachT

CoachT

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@CoachT What do you mean by "resolves around the 50 line"?

This is what ive been able to come up with so far- I think i want the Histogram to act as a Oscillator around the 50 Line. I having a hard time with those adjustments.

 
rad14733

rad14733

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This is what ive been able to come up with so far- I think i want the Histogram to act as a Oscillator around the 50 Line. I having a hard time with those adjustments.

I'd be interested in an update on this QQE Histogram indicator... ;)
 
horserider

horserider

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@CoachT The RSI uses a 0 to 100 scale. You would need to adjust that scale to range from -100 to 100 or some such adjustment. That should give the zero line as the center of the range.
 
F

FOTM_8888

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great job benten, this indicator look pretty good, ben can you add a buy and sell arrow to this indicator please on the candles. thank you very much.
 
F

FOTM_8888

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@FOTM_8888 Already did, take look at message #13.
thank you ben for the reply, i saw it, but what i mean is in the candles, not in the lower indicator, just to plot the signal in the upper of the charts, so that way we can save space deleting the lower part. thanks
 
BenTen

BenTen

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@FOTM_8888 Here you go:

Code:
# QQE Indicator
# Converted by Kory Gill for BenTen at useThinkScript.com
# Original https://www.tradingview.com/script/zwbe2plA-Ghosty-s-Zero-Line-QQE/

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;

def pFastAtrRsiTL = FastAtrRsiTL;
def pRsiMa = rsi_ma;
def line50 = 50;

plot UpSignal = if pRSIMA crosses above pFastAtrRsiTL then low else Double.NaN;
plot DownSignal = if pRSIMA crosses below pFastAtrRsiTL then high else Double.NaN;

UpSignal.SetDefaultColor(Color.MAGENTA);
UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
DownSignal.SetDefaultColor(Color.CYAN);
DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
 
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