Golden QQE System is a moving average based forex trading system. This forex trading system is usually useful to catch larger swings of the market. Signals are generated on smaller swings too which are less profitable but traders should be able to differentiate larger swings from garbage ones. To be able to identify potential good swings from bad you should have the basic knowledge of the trend of the market. Traders always should be aware of the primary trend, secondary trend, and short term trend of the market. You can learn basics of trend here: A complete guide to the trend of the financial market. It is an average level forex trading system. It is capable of giving consistent results to its users.
Golden QQE System Overview
|Currency Pairs||Number of Indicators|
H1 and H4
|Major pairs only||4|
These four technical indicators will guide you to make better trading decisions. If you don’t know how to install trading systems in your MetaTrader 4 you can learn here: How to Install Free Trading System in MetaTrader 4 (MT4): A Step By Step Guide. Your Golden QQE System will look like this:
Now, let’s go through the indicators used in this forex trading system.
Golden QQE Indicators Overview
|Main Chart||Chart Window|
|Moving average||QQE Current Timeframe|
- Moving Average
A simple moving average of period 10 is used here. This moving average works as a trend confirmation. Its crossover with price gives confirmation to the trade signals.
- BBands Stop
BBands Stop comes with golden arrows and green arrows. These arrows are the major signal generator tool for this system. Green arrows are signals for buy and golden arrows are signal for sell.
- QQE Current Timeframe
This indicator has two oscillators; light blue and pink. When the pink oscillator is above blue oscillator it is a bullish signal and vice versa.
Golden QQE System: Buy Parameters
- Market in your chart should be trending upward.
- Market should be above moving average.
- BBands Stop indicator should be green appearing below market.
- Pink oscillator of QQE Current Timeframe should be above blue oscillator.
- Open your buy position when all of these parameters are met.
- Place your stop loss below the recent swing low.
- Book your profit when BBands Stop appears above the market.
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Golden QQE System: Sell Parameters
- Market in your chart should be trending downward.
- Market should be below moving average.
- BBands Stop indicator should be golden appearing above market.
- Blue oscillator of QQE Current Timeframe should be above pink oscillator.
- Open your short position when all of these parameters are met.
- Place your stop loss above the recent swing high.
- Book your profit when BBands Stop appears below the market.