The QStick indicator was designed by Tushar Chandle to quantify candelsticks.
The distance between opening and closing prices, as known as the size of the candelstick's body, is the heart of candelsticks studies. The QStick indicator is a simple moving average of theses distances.
QStick values below zero show that there is a majority of black candelsticks, so that the stock is under pressure. QStick values upper zero show that there is a majority of white candelsticks, so that the stock is going up.
I don't really like the terms 'majority of black candelsticks' and 'majority of white candelsticks', i prefer to talk about 'negative volatility' and 'positive volatility'. Moreover, it might be more usefull to calculate the QStick with the percentage deviation corrected by the standard deviation instead of the absolute deviation, in order to compares qstick values or to think about levels crossover.
QStick Indicator = A-day simple moving average (SMA) of (Close - Open)
Finance::GeniusTrader::Indicators::QSTICK->new() Finance::GeniusTrader::Indicators::QSTICK->new([20])
http://www.metastock.fr/QSTICK.htm
To install Finance::GeniusTrader, copy and paste the appropriate command in to your terminal.
cpanm
cpanm Finance::GeniusTrader
CPAN shell
perl -MCPAN -e shell install Finance::GeniusTrader
For more information on module installation, please visit the detailed CPAN module installation guide.