ZenAlgo - Q (free)
ZenAlgo - Q is a momentum oscillator inspired by QQE methodology. It combines a histogram, RSI-based averages, adaptive bands, divergences, dots, and diamonds in one panel.
The number of symbols can make Q look complicated at first. Start with the histogram and averages, then use the markers only to explain or confirm what those main components are already showing.
What is ZenAlgo - Q?
ZenAlgo - Q is an oscillator based on a refined QQE method. It combines two RSI calculations, adaptive bands, and a colored histogram to visualize momentum strength, trend stability, and divergence patterns in price.
Q is best read as momentum context. Even its strongest diamonds still need confirmation from price structure and risk management.
Visual Components & How To Read Them
1. Histogram Columns
- Main View: Two sets of colored bars oscillate around a central (zero) line.
- Upper (RSI1): Momentum based on primary RSI calculation.
- Lower (RSI2): Secondary confirmation of momentum.
- Color coding:
- Turquoise (bullish): Strengthening positive momentum.
- Purple (bearish): Strengthening negative momentum.
- Interpretation:
- Bars shifting from purple to Turquoise = possible bullish trend forming.
- Bars shifting from Turquoise to purple = possible bearish momentum building.
- Shrinking bars = waning momentum, possible pause or reversal.
Tall bars = strong momentum, short bars = weak/no momentum.
2. Bands & Gridlines
- Gridlines (horizontal dashed lines): Reference levels from -50 to +50 for easier orientation.
- Adaptive Bands: The "envelope" (invisible, used internally) expands/contracts with volatility, making momentum extremes obvious.
3. RSI Moving Averages
- White Line ⚪: Smoothed RSI (main momentum).
- Orange Line 🟠: Same RSI, but colored orange when it's falling (vs. previous bar).
- EMA 100 (dynamic color):
- Green = EMA 100 rising.
- Red = EMA 100 falling.
4. Divergence Labels
Divergences highlight mismatches between price and momentum—often a precursor to reversals.
- Regular Bullish Divergence
- Label: R (white letter in a blue box, below the bars)
- Shows when price makes a lower low but RSI forms a higher low.
- Hidden Bullish Divergence
- Label: H (white letter in a blue box, below the bars)
- Price makes a higher low, RSI a lower low. Trend likely to continue.
- Regular Bearish Divergence
- Label: R (white letter in a purple box, above the bars)
- Price makes a higher high, RSI a lower high.
- Hidden Bearish Divergence
- Label: H (white letter in a purple box, above the bars)
- Price makes a lower high, RSI a higher high.
Divergence labels become more relevant when they align with a strong histogram move or a meaningful price level.
5. Bullish/Bearish Dots & Diamonds
- Small blue or purple dots 🔵🟣:
- Bottom blue dot (diamond/circle): Sustained bullish momentum.
- Top purple dot (diamond/circle): Sustained bearish momentum.
- Red and Green dots 🔴🟢 (tiny, on edge of histogram):
- Red dot (top): RSI drops below its average, while above 50 – a bearish transition.
- Green dot (bottom): RSI rises above its average, while below 50 – a bullish transition.
- Diamonds 💎 (bigger, at extremes):
- Blue diamond (bottom): RSI crosses above EMA 100 – long-term bullish signal.
- Purple diamond (top): RSI crosses below EMA 100 – long-term bearish signal.
Dots and diamonds are there for quick visual confirmation—great for scanning the chart at a glance!
6. EMA Filter Context 📈
- EMA 13 and EMA 21 (not plotted, but used):
- If price is above both EMAs → bullish bias for all dots and labels.
- If below both EMAs → bearish bias.
- This filter makes the momentum dots more reliable.
How to Use ZenAlgo - Q
Typical Use Cases
- Momentum Tracking: Quickly see if a trend is gaining or losing steam.
- Divergence Analysis: Early warning for possible reversals or continuation setups.
- Supplementary Confirmation: Use alongside your main trading system (e.g., volume, price action, moving averages).
- Market Context: Compare current momentum to historical behavior for better entries/exits.
Combine divergence signals with strong histogram bars for high-conviction trades!
Legend: Quick Reference
| Symbol/Color | Meaning |
|---|---|
| Blue bar | Bullish momentum increasing |
| Purple bar | Bearish momentum increasing |
| R (below) | Regular bullish divergence |
| H (below) | Hidden bullish divergence |
| R (above) | Regular bearish divergence |
| H (above) | Hidden bearish divergence |
| 🔵 Blue dot | Bullish confirmation (momentum up) |
| 🟣 Purple dot | Bearish confirmation (momentum down) |
| 🟢 Green dot | Bullish RSI transition (RSI crossing up its average, <50) |
| 🔴 Red dot | Bearish RSI transition (RSI crossing down its average, >50) |
| 💎 Blue diamond | RSI crosses above EMA 100 (bullish long-term shift) |
| 💎 Purple diamond | RSI crosses below EMA 100 (bearish long-term shift) |
Tips, Tricks & Warnings
Pay extra attention when a divergence and a strong histogram move occur together. The agreement makes the reading more relevant, but does not guarantee the next price move.
Price structure, volume, and higher timeframes can explain whether a Q signal appears in a useful location.
Do not use this indicator as your sole decision tool for entries or exits. Always confirm with other analysis, and practice good risk management!
Attribution & Disclaimer
ZenAlgo - Q is an adaptation of the open-source QQE script by Glaz, with significant enhancements and visual improvements.
This documentation is for educational purposes only and is not financial advice. Always do your own research and use appropriate risk controls.
Alerts
Q provides six diamond alerts:
| Alert | Meaning |
|---|---|
| Confirmed Bullish Diamond / Confirmed Bearish Diamond | A divergence diamond receives confirmation |
| Bullish Diamond (Strong) / Bearish Diamond (Strong) | The regular diamond agrees with the EMA100 RSI and RSI MA filters |
| Big Bullish Diamond / Big Bearish Diamond | The larger confirmed diamond condition is met |
Dots, R/H labels, EMA100 divergence triangles, and regular unconfirmed diamonds are visual only.
Get Q
Open the public script on TradingView or get permanent access through ZenAlgo: