The X-ray burster and dipper 4U1915-05 ( also known as XB1916-053 ) was observed 19 times for a total exposure of roughly 140 ks between 1996 February and October with the proportional counter array ( PCA ) aboard Rossi X-ray Timing Explorer ( RXTE ) . We present here the detailed timing study of its X-ray emission . The source was observed in both a high intensity/soft spectral and a low intensity/hard spectral state . The 2-20 keV luminosities are about 1.4 \times 10 ^ { 37 } and 3.2 \times 10 ^ { 36 }  ergs s ^ { -1 }  in the two regimes respectively ( assuming a source distance of 9.3 kpc ) . We confirm that 4U1915-05 is an atoll source based on its spectral behaviour and its aperiodic variability in the frequency range \sim 4 \times 10 ^ { -3 } -128  Hz . 4U1915-05 displays red noise below \sim  1 Hz , but is especially remarkable for its quasi-periodic variability detected for the first time at several timescales . We detect low frequency quasi-periodic oscillations ( LFQPOs ) between \sim  5 and 80 Hz , as well as high frequency QPOs ( HFQPOs ) between \sim  200 and 1300 Hz . Both LFQPOs and HFQPOs frequencies positively correlate with the mass accretion rate inferred from the position of the source on the color-color diagram . In a narrow range of luminosity , we also detect twin simultaneous HFQPOs separated by 348 \pm 12  Hz .