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THIS PRODUCT IS FOR TRADESTATION

 

 

                                                 Quick Stick indicator and user function for Tradestation

 

The Quick stick or Qstick Indicator was designed by scientist, inventor, author, and trader Tushar Chande as a method to quantify candlestick charts.

Chande has a Ph.D. in engineering and holds nine U.S. patents.

 

Chande and Stanley Kroll co-authored the widely acclaimed book The New Technical Trader, he also wrote Beyond Technical Analysis.

He is a regular contributer to Stocks and Commodities magazine and has also published numerous papers in engineering journals and is widely recognized for his expertise in designing innovative trading systems.

So from that introduction you can see he is a pretty smart guy. In my opinion the Qstick indicator is his finest piece of work.

 

Interpretation

 

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.

  • Quick stick values below zero indicate a majority of black candlesticks (over the time periods specified) and therefore a bearish bias for the security.

  • Qstick values above zero indicate a majority of white candlesticks (over the time periods specified) and therefore a bullish bias for the security.

  • The Quickstick indicator can identify overbought and oversold conditions.
     

There are several ways to trade the Quick stick indicator:

 

  • Crossovers. Buy when the indicator crosses above zero. Sell when it crosses below zero.

  • Extreme Levels. Buy when the Qstick indicator is at an extremely low level and turning up.

  • Sell when the Qstick indicator is at an extremely high level and turning down.

  • You may even want to plot a short-term moving average on the Qstick to serve as a trigger line.

  • Divergences. Buy when the Qstick is moving up and prices are moving down.

  • Sell when the Qstick is moving down and prices are moving up.

  • You may want to consider waiting for the price to confirm the new direction before placing the trade.

If you need any other free indicators in easy language please view the list available here List of free Easy Language indicators, functions and strategies

  

 

    Qstick > 0 Signifies an up trend, Qstick < 0 Signifies a down trend.

 Signals the end of the uptrend in good time...... 

 

Quick stick indicator ELA code is available free if you score above 1050 in the Weekly Trading IQ game

 

To qualify for your free Volume flow indicator ela file, just create a free account and score 1050 or greater in the weekly contest

 then drop me an email with your account name. You will receive the indicator shortly after.

 

 

 

 

        Generally, divergences in Qstick are worth observing......even on a choppy noisy price set it shows its usefulness.
       Quickstick often flags up early warning signals when smooth trends are ending ( Red arrow shows when zero is crossed )
                  When lengths are shortened, Qstick functions well as an oscillator, giving good entries on extreme levels..
                                            The Qstick indicator and function for Tradestation and Multicharts trading signals.

 

  • The Qstick function can be used in system signals

  • Can be used to validate trends

  • Measures extreme overbought and oversold levels (as an oscillator

  • Can be used as a divergence indicator

  • Works in any time frame ( Weekly, Daily, Hourly, Minute etc )

  • Real-time or delayed prices

  • Does not require volume

 

 

 

          Indicator + function

                   The Qstick indicator and function

A Simple and yet very efficient way of defining if a trend is in a bull or bear phase. Probably the best piece of work that Chande ever turned out, and yet seemingly forgotten by the whole world.

Setting lengths to 20 or more makes for a smooth analysis of trend, and the crossing of zero indicates trend direction.

 

See how early it signalled a bear move in the example when it crossed zero. Can be used as an short term oscillator with lengths less than 10 and often gives very early signals.

 

FREE click here to request code

Stocks, Futures, Bonds, Forex, Indices etc

 

Author: Tushar Chande. ( Protected EL code)

     

 

 
FREE and paid Systems and Indicators for Tradestation MultiCharts, MetaTrader4  and NinjaTrader, detailed articles on trading systems, trend following, risk control analytics, optimization, optimal trade size formulas, online calculators, FREE to play Trading IQ Game with massive prizes from our two sponsors NinjaTrader and MultiCharts, tutorial videos, expert trader videos, no nonense content that does exactly as it is described...Time is running out... Credit availability is drying up....US National debt to be equal to 35% of the entire worlds GDP in 3 years....33% of all USA tax revenues will be required just to make the INTEREST PAYMENTS on the collosal national debt...... Eventually the US will have no option other than to print money or default on their debt repayments...... US Dollars will likely cease to be the reserve currency of the world........Stimulus is running out, the Federal reserve has fired all its bullets and the only options left are to print more money or to default on the debt payments.....The problem is infinitely worse than in 1929 due to the added problem of this huge government debt...... In 1929 the USA still had a positive trade surplus and a manufacturing based economy..... In 2011 the USA will have no such resources to fall back on........The two most likely scenarios are both likely to lead to disaster......Hyper-Inflation at 40%+ or Deflationary implosion....... Either of the two possibilities will lead to huge moves in the worlds financial markets........Trading of these massive moves could be the only way out..........Wise proffessional traders have already started building huge dollar short posistions in anticipation of the debacles to come.....Many people will suffer as a result of the irresponsible un-elected Federal reserve operatives..........Many more people will lose their homes......Millions of jobs will be lost......Those who are unprepared will become impoverished in ways that they could never imagine.....What is your strategy to trade these violent market trends?.........ARE YOU  READY?

Precision Trading Systems is partnered with MultiCharts and part of the NinjaTrader Ecosystem

 
  • Products are provided for both these platforms.
  • Our partners also sponsor the Trading IQ Game
  • Both these trading platforms are excellent

 


Precision Trading Systems is provider of the following

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 Precision Trading Systems is partnered  with MultiCharts.

 

 Precision Trading Systems is part of the NinjaTrader ecosystem.

 

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RISK DISCLOSURE

 

  • Futures, Forex and Stock trading contain substantial risk and are not for every investor.

  • An investor could potentially lose all or more of the initial investment.

  • Risk capital is money that can be lost without jeopardizing ones financial security or lifestyle.

  • Only risk capital should be used for trading

  • Only those with sufficient risk capital should consider trading.

  • Past performance is not necessarily indicative of future results.

 

 

HYPOTHETICAL PERFORMANCE DISCLOSURE

 

Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

 

 

 

 

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