QQE
A smoothed RSI with a trailing level that follows it like a stop.
Formula
RSI MA = EMA(5) of RSI(14) Trail = RSI MA ∓ 4.236 × RSI ATR, ratcheting like Supertrend RSI ATR = double EMA over 2 × 14 − 1 bars of |change in RSI MA|
How to read it
The smoothed RSI crossing its trail is the signal; 50 is the dividing line.
How to use it
A smoother RSI signal with fewer whipsaws, used for trend entries.
In Kereon
Charts · Superchart. The published construction with its published defaults (14, 5, 4.236); a line at 50.
Also called: quantitative qualitative estimation.