Is this a reference implementation of every QQE version?

No. This is an explicit QQE-style variant: EMA smoothing of RSI, one Wilder smoothing stage on absolute RSI changes, and a stateful adaptive trail. It does not implement a double-Wilder pipeline, two parallel QQE streams or Bollinger overlays. Compare formulas, seeds and output data before claiming equivalence with another indicator.

How do I install and read the indicator?

Save the source under MQL5/Indicators and compile it in MetaEditor. An EA can create an iCustom handle with the input order shown, then read buffer 0 for smoothed RSI and buffer 1 for the adaptive trail. Check copied counts and use shift 1 for the last completed bar.

Which conditions trigger alerts?

The fast line crosses its trail between two completed bars and is above the chosen threshold for an up alert or below it for a down alert. This is a threshold-level filter, not a separate threshold crossover. Popup and push settings are independent; the first historical calculation is not announced.

Can the indicator execute trades?

No. MQL5 indicators cannot perform trade operations. The previous embedded CTrade branch was not a valid execution path. Build a separate EA that reads the indicator and explicitly implements positions, risk, stops, failed requests and restart behavior. The indicator has no TP, reverse close or price-ATR trailing stop.

Are the settings reliable or non-repainting?

No test evidence here establishes reliable performance or optimal inputs. The forming line updates with current data, while alerts use completed bars. History corrections, input changes and the recursive starting seed can change historical values. Closed-bar evaluation is not an unconditional promise that history can never change.

What should I know about computation and notification limits?

The sample recalculates full history for clarity and uses an explicit warmup display offset, not an incremental optimization. Push requires terminal configuration and is subject to platform limits; terminal notifications do not establish external execution. No verified win rate, drawdown or Sharpe result accompanies the code.

Complete .mq5 source code

QQE MQL5 Indicator: Smoothed RSI Variant and Closed-Bar Alerts

Implement a clearly specified QQE-style oscillator in MQL5: an EMA-smoothed RSI and an adaptive trail based on one Wilder-smoothed series of RSI changes. The custom indicator plots values and can alert on completed-bar crosses. It does not execute orders or claim parity with every QQE or QQE MOD implementation.

Build a custom MT5 indicator View the MQL5 code

What this MT5 indicator covers

Two readable indicator buffers: smoothed RSI and an adaptive trailing reference

One Wilder smoothing stage, explicitly distinguished from double-smoothed QQE variants

Completed-bar alert conditions with a threshold-level filter

No embedded order execution, strategy performance claim or guaranteed historical permanence

How the indicator signal works

Calculation and signal conditions

An up alert requires a completed-bar fast-line cross above the trail with fast above the chosen threshold; down alerts require the reverse cross with fast below it. The threshold is a level filter, not an additional crossover. Full-history chronological calculations use explicit seeds and independent popup and push controls.

Interpretation and limitations

This indicator has no positions, stops, take profits or trade exits. Its RSI-domain adaptive trail is not a price ATR stop. A separate EA must translate signals into a tested execution policy. The forming bar can change; completed-bar alerts avoid using that bar but do not prevent changes caused by revised history or different inputs.

MQL5 Custom Indicator Code

#property strict
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_type1 DRAW_LINE
#property indicator_color1 clrCrimson
#property indicator_label1 "Smoothed RSI"
#property indicator_type2 DRAW_LINE
#property indicator_color2 clrDodgerBlue
#property indicator_label2 "Adaptive trail (single-stage variant)"
input int InpRSIPeriod=14;
input int InpSF=5;
input double InpQQEFactor=4.236;
input double InpThreshold=50;
input bool PopupAlerts=true;
input bool PushAlerts=false;
double fast[],slow[];
int rsiHandle=INVALID_HANDLE;
datetime lastClosed=0;
int OnInit()
{
   if(InpRSIPeriod<2 || InpSF<1 || InpQQEFactor<=0 || InpThreshold<0 || InpThreshold>100)
      return INIT_PARAMETERS_INCORRECT;
   SetIndexBuffer(0,fast,INDICATOR_DATA); SetIndexBuffer(1,slow,INDICATOR_DATA);
   ArraySetAsSeries(fast,false); ArraySetAsSeries(slow,false);
   int begin=InpRSIPeriod+InpSF+10;
   PlotIndexSetInteger(0,PLOT_DRAW_BEGIN,begin); PlotIndexSetInteger(1,PLOT_DRAW_BEGIN,begin);
   IndicatorSetInteger(INDICATOR_LEVELS,1);
   IndicatorSetDouble(INDICATOR_LEVELVALUE,0,InpThreshold);
   IndicatorSetInteger(INDICATOR_DIGITS,2);
   IndicatorSetString(INDICATOR_SHORTNAME,"QQE-style single-stage variant");
   rsiHandle=iRSI(_Symbol,_Period,InpRSIPeriod,PRICE_CLOSE);
   return rsiHandle==INVALID_HANDLE?INIT_FAILED:INIT_SUCCEEDED;
}
void OnDeinit(const int reason)
{
   if(rsiHandle!=INVALID_HANDLE) IndicatorRelease(rsiHandle);
}
int OnCalculate(const int rates_total,const int prev_calculated,
 const datetime &time[],const double &open[],const double &high[],const double &low[],
 const double &close[],const long &tick_volume[],const long &volume[],const int &spread[])
{
   int begin=InpRSIPeriod+InpSF+10;
   if(rates_total<begin+3) return 0;
   ArraySetAsSeries(time,false);
   double raw[]; ArraySetAsSeries(raw,false);
   if(CopyBuffer(rsiHandle,0,0,rates_total,raw)!=rates_total) return prev_calculated;
   ArrayInitialize(fast,EMPTY_VALUE); ArrayInitialize(slow,EMPTY_VALUE);
   int seed=InpRSIPeriod;
   fast[seed]=raw[seed]; slow[seed]=raw[seed];
   double alpha=2.0/(InpSF+1.0),wilder=1.0/InpRSIPeriod,variation=0;
   for(int i=seed+1;i<rates_total;i++)
   {
      fast[i]=alpha*raw[i]+(1-alpha)*fast[i-1];
      double change=MathAbs(fast[i]-fast[i-1]);
      variation=wilder*change+(1-wilder)*variation; // One smoothing stage, not double Wilder.
      double lower=fast[i]-InpQQEFactor*variation,upper=fast[i]+InpQQEFactor*variation;
      if(fast[i-1]>slow[i-1])
         slow[i]=fast[i]<slow[i-1]?upper:MathMax(lower,slow[i-1]);
      else
         slow[i]=fast[i]>slow[i-1]?lower:MathMin(upper,slow[i-1]);
   }
   int i=rates_total-2;
   if(prev_calculated==0 || lastClosed==0) lastClosed=time[i]; // Do not alert old history at attachment.
   else if(time[i]!=lastClosed)
   {
      lastClosed=time[i];
      bool buy=fast[i-1]<=slow[i-1] && fast[i]>slow[i] && fast[i]>InpThreshold;
      bool sell=fast[i-1]>=slow[i-1] && fast[i]<slow[i] && fast[i]<InpThreshold;
      if(buy || sell)
      {
         string msg=StringFormat("%s %s QQE-style %s closed-bar cross: fast=%.2f trail=%.2f",_Symbol,
            EnumToString(_Period),buy?"up":"down",fast[i],slow[i]);
         if(PopupAlerts) Alert(msg);
         if(PushAlerts && !SendNotification(msg)) Print("Push failed: ",GetLastError());
      }
   }
   return rates_total;
}

Copy this code into MetaEditor, save it in the MQL5/Indicators folder, and compile with F7.

Change the settings or add your own signal filter

Describe the inputs, buffers, alerts, visual style, or confirmation filter you want. Pineify generates editable MQL5 source code that you can inspect and compile in MetaEditor.

Generate custom MQL5 code Read the MT5 testing guide

Pine Script vs MQL5: Same Strategy, Different Platforms

Aspect	Pine Script (TradingView)	MQL5 (MetaTrader 5)
Execution	Series evaluated on chart updates	Event handlers with explicit buffers
Deployment	Runs in TradingView with alerts	Runs in the MT5 terminal or on a VPS
Broker access	Strategy orders are simulated; live automation needs a separate integration	Direct broker connectivity
Backtesting	Strategy Tester for strategy scripts	Strategy Tester for Expert Advisors
Code complexity	Simpler, functional syntax	C++-like, more powerful

The calculation can be implemented on either platform, but the runtime model and buffer APIs differ. Read the Pine Script reference guide before porting logic between them.

Frequently Asked Questions

Related MQL5 pages

Rsi Mql5 Indicator→Macd Mql5 Indicator→Atr Indicator Mql5→Supertrend Mt5 Indicator→Custom Indicator Mql5→

Technical references

Risk and testing note

These educational examples require independent compilation and testing. A compile pass or an illustrative setting does not establish execution correctness or profitability. Any reported performance must be supported by reproducible data and test settings; past results do not predict future returns. Trading involves significant risk of loss. This content is not financial advice.