Heiken Ashi MA QQE Based Scalping or Day Trading Strategy – HAMA & QQE are very few indicators that provide high probability signals as a standalone indicator.
But though this high accuracy trading system gives high quality, high probability information, it is still not the Holy Grail.
As the name states, it is an “estimation”, not a “prediction”. So, it is still best to add a few good “PRICE ACTION” filter to improve the probability of a profitable trade setup.
- Time Frame: H1, H4, and D1
- Currency Pairs: GBPUSD and EURUSD
- Dot Color
- Download TraderVersity.Com-HAMAQQE (Zip File)
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators /
- Copy the “TraderVersity.Com-HAMAQQE.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex system
- Right-click on your trading chart and hover on “Template”
- Move right to select TraderVersity.Com-HAMAQQE
- You will see “HAMA QQE Based Scalping or Day Trading System” is available on your Chart
The idea behind this strategy is to trade based on the agreement of the intermediate or long-term trend and the short-term trend signal as provided by the QQE indicator.
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- Use a demo account or a small live account first to practice this trading system
The QQE indicator is an oscillating indicator based on a complex mathematical equation that plots two lines, one fast and one slow. Having two lines oscillating allows for crossovers between the fast and the slow lines, which may be used as confirmation of a minor trend bias.
For our intermediate or a long-term trend, we will be using the commonly used HAM and Dot-Color indicator.
We will be trading only when the QQE crosses 50 in the direction of the long-term trend based on the HAMA and Dot-Color.
- HAMA: Blue candle
- Dot Color: Blue
- Above level 50 line
- Yellow line > Magenta line
- DigiStoch: Trend Up
- HAMA: Red candle
- Dot Color: Red
- Below level 50 line
- Yellow line < Magenta line
- DigiStoch: Trend Up
Another advantage of the QQE indicator is the 50% line. This could be added as another filter for the trading rules.
Having the QQE lines above the 50% line indicates that price is on an uptrend while lines below the 50% line indicates that price is on a downtrend.