LazyBear

Indicator: Chande's QStick Indicator

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QStick from Tushar Chande (more info => http://www.investopedia.com/terms/q/qstick.asp)

This numerically identify trends in candlestick charting. It is calculated by taking an 'n' period moving average of the difference between the open and closing prices. A Qstick value greater than zero means that the majority of the last 'n' periods have been up, indicating that buying pressure has been increasing

I added more markings to clearly highlight the divergences (marked them in the chart above).

Appreciate any comments/feedback.
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//
// @author LazyBear
// 
study(title = "Tushar Chande's QStick [LazyBear]", shorttitle="QStick_LB")
length=input(8)
hline(0)
s2=sma((close-open),length)
c_color=s2 < 0 ? (s2 < s2[1] ? red : lime) : (s2 >= 0 ? (s2 > s2[1] ? lime : red) : na)
plot(s2, color=blue, style=area)
plot(s2, color=c_color, style=circles, linewidth=3)
So it looks like it's a red dot follows the green one in real time, look out.
Red during an apparent uptrend or rising price probably doesn't have enough volume to supported for long. Keep em coming, dude.
+2 Reply
Thanks for the comment.

The change in colors signify momentum loss and a potential reversal. Another area where this indicator is useful is for identifying the divergences (price making lower points, while the indicator doing the opposite).
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LazyBear PRO QuantitativeExhaustion
Thanks for posting this @JR.
+5 Reply
Excellent indicator. Using "make it mine" and will be trying QStick indicator.
+4 Reply
This works well for momentum / trend changes
+4 Reply
Very nice- great work Bear
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LazyBear PRO sublimares2
Thx
+5 Reply
BTW- colors sucks :)
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LazyBear PRO sublimares2
:P
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snapshot


Looking for mergers/exhaustion spikes and divergences (both short length compared to long length and when compared to price)
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Try this one... modified
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rez120 PRO QuantitativeExhaustion
@QuantitativeExhaustion, Hi, I was looking at your post in regards to QStick indicator by LazyBear. I like how you modified the indicator so that you can have two QStick indicators into one. Is it possible for you to tell me how you did it? Or if you still have it (or if you can recreate it), can you share that with me? I am not a coder at all. Far from it actually. Thanks in advance.
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I like this one and it works with IMI to confirm a move... Thanks dude you are the real deal...
Reply
Thanks.
+1 Reply
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