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)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

grahvity
2 years ago
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
LazyBear PRO grahvity
2 years ago
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).
+5 Reply
QuantitativeExhaustion PRO LazyBear
2 years ago
snapshot
+4 Reply
QuantitativeExhaustion PRO LazyBear
2 years ago
snapshot
+3 Reply
LazyBear PRO QuantitativeExhaustion
2 years ago
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
sublimares2
2 years ago
Very nice- great work Bear
+2 Reply
LazyBear PRO sublimares2
2 years ago
Thx
+5 Reply
sublimares2
2 years ago
BTW- colors sucks :)
+2 Reply
LazyBear PRO sublimares2
2 years ago
:P
+4 Reply
QuantitativeExhaustion PRO LazyBear
2 years ago
snapshot


Looking for mergers/exhaustion spikes and divergences (both short length compared to long length and when compared to price)
+4 Reply
QuantitativeExhaustion PRO sublimares2
2 years ago
snapshot
Try this one... modified
+5 Reply
BizkitBR PRO
2 years ago
I like this one and it works with IMI to confirm a move... Thanks dude you are the real deal...
Reply
LazyBear PRO BizkitBR
2 years ago
Thanks.
+1 Reply
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