The QQE indicator implemented as a sequence of candlesticks. Candlesticks appear as a result of relevant price timeseries processed by the QQE algorithm.
In many situations, such approach may be more informative for the purpose of analysis.
input mode Mode=MODE_DIFF; // Algorithm variant
Depending on the value of Mode input parameter, the indicator uses one of the three methods of calculation:
This indicator requires the compiled indicator file QQECloudX.ex5. Place it in <terminal_data_folder>\MQL5\Indicators.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. The QQECandle indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12864
Simplified version of Ozymandias with price band lines removed.ColorHMA_StDev
The ColorHMA indicator with additional trend strength indication using colored dots based on the standard deviation algorithm.