indicator · own pane · open source
QStick
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About
QStick averages the difference between close and open over a window. Above zero = bullish candles dominating; below zero = bearish.
- Crosses of zero flag short-term sentiment shifts.
- Magnitude reflects how decisive recent candles have been.
Source code
//@version=5
indicator("QStick", overlay=false)
len = input.int(14, "Length", minval=2)
qs = ta.sma(close - open, len)
hline(0, "Zero", color=color.gray, linestyle=hline.style_dashed)
p_QStick = plot(qs, "QStick", color=qs >= 0 ? color.green : color.red, linewidth=2)
alertcondition(ta.crossover(qs, 0), "QStick turns up", "QStick crossed above zero")
alertcondition(ta.crossunder(qs, 0), "QStick turns down", "QStick crossed below zero")
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