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Views:: 14447
Rating:: (3)
Published:: 2008.11.13 07:30
Updated:: 2014.04.21 14:53

ChandeQStik_v1.mq4 (2.89 KB) view

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Author: igorad

Indicator QStick represents a simple n-period moving average for the difference of the close and open prices.

QStick = MA(n, (Close - Open)),

QStick can be used as a simple substitution or as the candlesticks determinant. The positive values of QStick denote the domination of the "white" candlesticks in the n-period interval, and the negative values of QStick denote the domination of the "black" candlesticks.

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A modified verion of the Chande & Kroll's Stop indicator. The author consider that the ChandelierStops_v1 is very similar to it and look better than the Chande & Kroll's Stop.

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Chande QStick v1 - indicator for MetaTrader 4