QQE Rainbow Forex Signals Indicator For Metatrader 4

The popular QQE Rainbow Forex signals indicator for MT4 is trend-following in nature and works very well for scalping, day trading and swing trading.

The indicator draws a set of colored trend-following lines on the chart.

Together, they form a rainbow buy and sell signals colored indicator that works well for any MT4 symbol.

How do the buy and sell signals work:

  • A buy signal occurs when all rainbow colored lines are all positioned up.
  • A sell signal occurs when all rainbow colored lines are all positioned down.

See the GBP/USD H4 currency chart below for a buy and sell example.

Download This MT4 Forex Indicator Free

Download the “adaptive-relative-strength-index-smoothed.ex4” Metatrader 4 indicator

QQE Rainbow Forex Signals Indicator Chart

Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.

You can apply the indicator to any currency pair and time frame of your preference.

Finding Buy and Sell Triggers With QQE Rainbow Forex signals Technical Analysis Chart Indicator

Below is an example of how to buy and sell currency pairs with this Forex indicator:

Buy Trigger: Initiate a buy trade when all rainbow colored signal lines are positioned up. The trend is now upward.

Place a stop loss below support, or use your own stop loss strategy.

Exit the trade when an opposite sell signal appears on the chart, or close the trade for a fixed profit target, for example 70 pips on the 1-hour chart.

Sell Trigger: Initiate a sell trade when all rainbow colored signal lines are positioned down. The trend is now downward.

Place a stop loss above resistance, or use your own stop loss strategy.

Exit the trade when an opposite buy signal appears on the chart, or close the trade for a fixed profit target, for example 35 pips on the 15-minute chart.

Download This Forex Indicator Now

Download the “adaptive-relative-strength-index-smoothed.ex4” MT4 indicator

Adjustable Parameters

History, time frame, BB smooth, QQE smooth, colors, width, style.

Usage

The indicator can be used as a stand-alone signals indicator.

It can also be combined with:

  • Trading oscillators (MACD, Stochastic, RSI,…)
  • Price action methods and techniques

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: trend following

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

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