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Chande's QStick
From: Lionel Issen <lissen@xxxxxxxxxx>
To: metastock-list@xxxxxxxxxxxxx
Date: Sunday, April 27, 1997 9:55 PM
Subject: QStick

Is there a formulation for QStick that will run under V 5.11?

Lionel Issen



In the book:

Chande's QStick

MOV((C-O),8,S)

 

e-w-Chande_QStick.gif
Now try:

Chande's QStick

MOV((C-O),8,VAR)

Tell us how it test on your stocks? or compare to other systems.

Richard Estes

 

Richard:

Thank you for your prompt response.

I tried this out, the curve is very ragged, like an RSI or a STOCH. I tried lengthening the time parameter to 25 days and I changed to an exponential moving average, this smoothed out the jaggedness a little making the signals a bit more obvious.

I compared this with a an MACD with similar time parameters, this gave a smoother curve with similar signals.

This should not be surprising, since Chande and Kroll show in "The New Technical Trader" that all price-only based indicators are highly correlated.

What is your experience with this indicator?

Lionel Issen

 

The Qstick indicator was developed by Tushar Chande. Qstick provides a way to quantify candlesticks. The distance between the open and close prices lies at the heart of candlestick charting. For those unfamiliar with candlestick charting, the body of a candlestick is black if today's close is less than the open; it is white if today's close is greater than the open. A majority of white candlesticks over a specified range is considered bullish. Whereas a majority of black candlesticks over a specified range is considered bearish.

The Qstick indicator is simply a moving average of the difference between open and close prices.
For more information on the Qstick indicator, refer to the book The New Technical Trader by Tushar Chande and Stanley Kroll.

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