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)
I like this one and it works with IMI to confirm a move... Thanks dude you are the real deal...
Reply
Thanks.
+1 Reply
BTW- colors sucks :)
+2 Reply
LazyBear PRO sublimares2
:P
+4 Reply
snapshot


Looking for mergers/exhaustion spikes and divergences (both short length compared to long length and when compared to price)
+4 Reply
snapshot
Try this one... modified
+6 Reply
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.
Reply
Very nice- great work Bear
+2 Reply
LazyBear PRO sublimares2
Thx
+5 Reply
This works well for momentum / trend changes
+4 Reply
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