The QQE indicator implemented as a sequence of candlesticks. Candlesticks appear as a result of relevant price timeseries processed by the QQE algorithm.
In many situations, such approach may be more informative for the purpose of analysis.
input mode Mode=MODE_DIFF; // Algorithm variant
Depending on the value of Mode input parameter, the indicator uses one of the three methods of calculation:
- Calculation by the main line;
- Calculation by the signal line;
- Calculation by the difference between the main and signal lines.
This indicator requires the compiled indicator file QQECloudX.ex5. Place it in <terminal_data_folder>\MQL5\Indicators.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. The QQECandle indicator
