Quantum Swing Index QSI
We have analyzed all available indicators in the market and have come to the conclusion that there are no adequate instrument to judge if the price of an asset is overbought or oversold. We have spent several years researching and analyzing the market until we created a new mathematical model called Quantum Swing Index (QSI) that shows much more accurately areas where the market is excessively overbought or oversold. QSI is the overbought oversold indicator designed for the forex market. One of the most commonly used indicators to assess if the market is overbought is the RSI (Relative Strength Index). The RSI was not really designed by its author as an overbought oversold indicator, but it is used by many traders to help in this matter. As seen on the chart below, the RSI gives some indication of overbought or oversold state of the market, but has no memory as to where the market is, which causes the RSI to miss real tops (see pictures). When compares to the stochastic, which is also used by many to try to detects tops and bottoms, the QSI gives a much better idea of overbought or oversold state. The QSI is definitely one of the most accurate indicators detecting oversold overbought market conditions. On top of that, we see that the QSI shows very accurately where the trend changes and helps swing traders detect areas where to enter (end of correction points, see last picture). This makes the QSI a very powerful universal indicator.
- Strategy: applies to most common trade approaches : trend following, scalping, swing trading.
- Time frames: Any time frame. In our view best results on H1, H4, D1, W1.
- Symbols: Any symbol. Works with all majors EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, etc.
- No repaint: this indicator does not repaint or redraw.
- Email alerts: Yes (see settings below).
- Sound alerts: Yes (see settings below).
- Email_alerts: If equal to "true" enables email alerts depending on the chosen criteria (see other parameters below).
- Sound_alerts: if equal to "true" enables sound alert depending on the chosen criteria (see other parameters below).
- Scalp_Alert_Up: if equal to true, when QSI goes above "Scalp_Up_Threshold" value, you will receive an alert based on the settings of Email/Sound alert.
- Scalp_Up_Threshold: QSI threshold above which an alert is generated.
- Scalp_Alert_Down: if equal to true, when QSI goes below "Scalp_Down_Threshold" value, you will receive an alert based on the settings of Email/Sound alert.
- Scalp_Down_Threshold: QSI threshold below which an alert is generated.
- Trend_Alert_Down: if equal to true, when QSI goes from below 50 to above 50 (buy signal), you will receive an alert based on the settings of Email/Sound alert.
- Trend_Alert_Up: if equal to true, when QSI goes from above 50 to below 50 (sell signal), you will receive an alert based on the settings of Email/Sound alert.
- Added push notifications, so that you can receive signals directly into your mobile phone (in MT4 app).
- Added the option to display the indicator current value in the chart window.
- Fixed array out of range issue, and repeated not enough data.
- Algorithm very minor update