OPEN-SOURCE SCRIPT
Qx Expert
Qx Expert is a comprehensive technical analysis tool designed by Eagle Hridoy. This script combines two powerful trading concepts into a single indicator to help traders identify high-probability trade setups by analyzing both Trend Momentum and Key Structural Levels.
It merges a customized QQE (Quantitative Qualitative Estimation) based signal system with dynamic Support & Resistance Channels derived from Pivot Points.
Key Features
1. Dynamic Support & Resistance Channels
- Automatically identifies key Swing Highs and Swing Lows using Pivot Points.
- Draws dynamic channels that act as Support (Green zones) and Resistance (Red zones).
- Breakout Detection: Visual alerts (triangles) appear when the price breaks a significant Support or Resistance level.
- Strength Logic: The script calculates the strength of a level based on how many times price has reacted to it in the past.
2. QQE Momentum Signals (Trend)
- Uses a smoothed RSI combined with ATR-based bands (QQE Logic) to detect trend shifts.
- Buy Signals: Generated when the smoothed RSI crosses above the fast ATR trailing line.
- Sell Signals: Generated when the smoothed RSI crosses below the fast ATR trailing line.
- Visual labels ("BUY"/"SELL") make it easy to spot trend reversals instantly.
3. Moving Average Confluence
- Includes two optional Moving Averages (MA1 and MA2) to help determine the overall market bias.
- Users can toggle between SMA and EMA and adjust lengths (default 50 & 200) directly from the settings.
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How to Use
This indicator is designed to provide confluence. It is best used by combining the momentum signals with the structural levels:
1. Bullish Setup (Long):
- Price is at or bouncing from a **Support Channel (Green Zone)**.
- Qx Expert prints a BUY label.
- Ideally, price is above the moving averages (if trend following).
2. Bearish Setup (Short):
- Price is rejecting from a Resistance Channel (Red Zone).
- Qx Expert prints a SELL label.
- Ideally, price is below the moving averages.
3. Breakout Trading:
- Wait for a candle close outside of a Support or Resistance channel.
- Look for the breakout triangle markers for confirmation.
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Settings
- SR Settings: Adjust the Pivot Period and Channel Width to fit different volatility assets (Crypto, Forex, Stocks).
- Qx Settings: Customize the RSI Length and QQE Factor to change the sensitivity of the Buy/Sell signals.
- Colors: Fully customizable colors for support, resistance, and signal labels to fit your chart theme.
Disclaimer
This script is for educational purposes only. Technical indicators should not be used in isolation. Always practice proper risk management and combine this tool with your own analysis before making trading decisions.
Developer: Eagle Hridoy
It merges a customized QQE (Quantitative Qualitative Estimation) based signal system with dynamic Support & Resistance Channels derived from Pivot Points.
Key Features
1. Dynamic Support & Resistance Channels
- Automatically identifies key Swing Highs and Swing Lows using Pivot Points.
- Draws dynamic channels that act as Support (Green zones) and Resistance (Red zones).
- Breakout Detection: Visual alerts (triangles) appear when the price breaks a significant Support or Resistance level.
- Strength Logic: The script calculates the strength of a level based on how many times price has reacted to it in the past.
2. QQE Momentum Signals (Trend)
- Uses a smoothed RSI combined with ATR-based bands (QQE Logic) to detect trend shifts.
- Buy Signals: Generated when the smoothed RSI crosses above the fast ATR trailing line.
- Sell Signals: Generated when the smoothed RSI crosses below the fast ATR trailing line.
- Visual labels ("BUY"/"SELL") make it easy to spot trend reversals instantly.
3. Moving Average Confluence
- Includes two optional Moving Averages (MA1 and MA2) to help determine the overall market bias.
- Users can toggle between SMA and EMA and adjust lengths (default 50 & 200) directly from the settings.
---
How to Use
This indicator is designed to provide confluence. It is best used by combining the momentum signals with the structural levels:
1. Bullish Setup (Long):
- Price is at or bouncing from a **Support Channel (Green Zone)**.
- Qx Expert prints a BUY label.
- Ideally, price is above the moving averages (if trend following).
2. Bearish Setup (Short):
- Price is rejecting from a Resistance Channel (Red Zone).
- Qx Expert prints a SELL label.
- Ideally, price is below the moving averages.
3. Breakout Trading:
- Wait for a candle close outside of a Support or Resistance channel.
- Look for the breakout triangle markers for confirmation.
---
Settings
- SR Settings: Adjust the Pivot Period and Channel Width to fit different volatility assets (Crypto, Forex, Stocks).
- Qx Settings: Customize the RSI Length and QQE Factor to change the sensitivity of the Buy/Sell signals.
- Colors: Fully customizable colors for support, resistance, and signal labels to fit your chart theme.
Disclaimer
This script is for educational purposes only. Technical indicators should not be used in isolation. Always practice proper risk management and combine this tool with your own analysis before making trading decisions.
Developer: Eagle Hridoy
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.