Chande's QStick
Overview |
The Chande QStick was developed by Tushar Chande to help identify market trends. It is a moving average of the difference between the opening and closing prices.

Interpretation |
Signals can be generated by identifying peaks and troughs, zero line crossings, and/or divergences between the QStick and the instrument's price.
Implementation |
The indicator is displayed as a bi-color histogram to make identifying peaks, troughs, and zero line crossings easier for the user. The moving average periods and type are user-definable.
Construction |
1. Navigator Window>Tools>Indicator Builder>[New] button
2. In the Indicator Bookmark, type the following text for each field:
Name: Chande's QStick
Short Name: vt_ChandeQS
Label Mask: Chande's QStick (%periods%,%mat%) | Up: %CQS_Up%, Down: %CQS_Down%
Placement: New Frame
Inspect Alias: Chande's QStick
3. In the Input Bookmark, create the following variables:
[New] button...
Name: periods
Display Name: QStick Periods
Type: integer
Default: 8
[New] button...
Name: mat
Display Name: QStick Type
Type: MA Type
Default: Simple
4. In the Output Bookmark, create the following variables:
[New] button...
Var Name: CQS_Up
Name: (CQS-Up)
Line Color: green
Line Width: thin
Line Type: histogram
[New] button...
Var Name: CQS_Down
Name: (CQS-Down)
Line Color: red
Line Width: thin
Line Type: histogram
5. In the Horizontal Line Bookmark, create the following lines:
[New] button...
Value: +0.0000
Color: black
Width: thin
Type: dashed
6. In the Formula Bookmark, copy and paste the following formula:
CQS:= mov((C-O),periods,mat);
CQS_Up:= if(CQS>ref(CQS,-1),CQS,CQS);
CQS_Down:= if(CQS<ref(CQS,-1),CQS,null);
7. Click the "Save" icon to finish building Chande's QStick indicator.