• Overview
  • Reviews (3)
  • Comments (1)

Quantitative Candlesticks Qstick

4

Qstick is a way to objectively quantify candlestick analysis and improve the interpretation of candlestick patterns. Qstick was developed by Tushar Chande and published in his book "The New Technical Trader - Boost Your Profit by Plugging Into the Latest Indicators (1994)". Qstick is built based on a moving average of the difference between the Open and Close prices. The basis of the idea is that the Opening and Closing prices are the heart of candlestick analysis. We strongly recommend the read of the book for more details.

Since many intraday traders take into account also the Highs and Lows of the price movement, we at Minions Labs also put this option for you to test and decide which is best on the Symbol you are currently trading.

Along with the Qstick average line we also added a "Signal Line" so you can control early signals in a different way. This Signal Line is a moving average of the Qstick values. So it is smoothed. With Qstick there are not right or wrong configurations, it will all depend on the Symbol's volatility, timeframe and also, your own strategy of analyzing the market. This indicator is very powerful to early identify divergences between the indicator and the prices on your chart, giving early signs of reversals.



SETTINGS

  • Moving average period to apply over Qstick calculation.
  • Signal line period.
  • Prices to use on calculations - Open & Close, or High & Low
  • Type of coloring method to use on indicator: Zero-line cross OR Signal-line cross.
  • Color configuration and styles for Qstick line and the Signal line.


POSSIBLE QSTICK READINGS

  1. First and more powerful, spotting divergences between Qstick and Price Action.
  2. Loss of momentum when Signal Line crosses (Up or Down) Qstick Line.
  3. Trend following using higher periods and monitoring QStick position to identify an Uptrend of Downtrend (Above the zero-line or Below).
  4. For more details, we suggest the read of the Qstick chapter of Tushar's book, it contains plenty of detail and examples.


If you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)...   

This will mean A LOT to me... And this way I can continue to give away Cool Stuff for Free...

With No Strings Attached!  Ever!


Live Long and Prosper!

;)
Reviews 3
Makarios  Yacoubian
2911
Makarios Yacoubian 2020.08.16 07:08 
 

Good tool to identify the change on trend very quickly.thank you

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Flavio Javier Jarabeck
The Market Momentum indicator is based on the Volume Zone Oscillator (VZO), presented by Waleed Aly Khalil in the 2009 edition of the International Federation of Technical Analysts journal, and presents a fresh view of this market valuable data that is oftenly misunderstood and neglected: VOLUME. With this new approach of "seeing" Volume data, traders can infer more properly market behavior and increase their odds in a winning trade. "The VZO is a leading volume oscillator; its basic usefulness
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Pavel048
310
Pavel048 2022.06.09 10:21 
 

Настройки индикатора по умолчанию не жизнеспособны. Если поковыряться в настройках - пойдет, но зачем, если есть индикаторы лучше этого.

Aleksandr Tamonin
4107
Aleksandr Tamonin 2021.01.24 10:08 
 

User didn't leave any comment to the rating

Makarios  Yacoubian
2911
Makarios Yacoubian 2020.08.16 07:08 
 

Good tool to identify the change on trend very quickly.thank you

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