The QStick indicator is a simple n-period moving average of the price difference.
QStick = SMA(Period, (Close – Open))
QStick can be used as a simple replacement of candlesticks. Positive values of QStick indicate a prevalence of “white” candlesticks in the n-period interval, while negative values indicate a prevalence of “black” candlesticks.
The indicator may use different averaging algorithms. It should be noted that Phase type parameters for different smoothing algorithms have completely different meaning. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect averaging. For AMA the fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power for AMA is also fixed on 2.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
This indicator was first implemented in MQL4 and published in Code Base on 20.02.2008.
MT5 Indicator – Download Instructions
ChandeQStick is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ChandeQStick provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ChandeQStick.mq5?
- Download ChandeQStick.mq5
- Copy ChandeQStick.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ChandeQStick.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ChandeQStick.mq5 is available on your Chart
How to remove ChandeQStick.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: