Chande QStick Indicator
Info
The Chande QStick Indicator is a Indicator for MetaTrader 5 that the qstick indicator is a simple n-period moving average of the price difference. QStick can be used as a simple replacement of candlesticks.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Chande QStick Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The QStick indicator is a simple n-period moving average of the price difference.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Chande Momentum Oscillator - another powerful indicator for MetaTrader 5 traders.
The QStick indicator is a simple n-period moving average of the price difference.QStick can be used as a simple replacement of candlesticks. Positive values of QStick indicate a prevalence of "white" candlesticks in the n-period interval, while negative values indicate a prevalence of "black" candlesticks.
Also recommended: Chande Momentum Oscillator (CMO) - similar indicator with strong performance on MetaTrader 5.
The indicator may use different averaging algorithms. It should be noted that phase type parameters for different smoothing algorithms have completely different meanings. For JMA it is an external phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect averaging. For AMA the fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power for AMA is also fixed on 2.The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal data folder\mql5\include). The use of the classes was thoroughly described in the article.
This indicator was first implemented in MQL4 and published in 2026.
Figure 1. The ChandeQStick indicator.
You may also like: Chande Kroll Stop Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 1
#property indicator_type1 draw_color_histogram
#property indicator_color1 clrdeeppink,clrviolet,clrgray,clrdeepskyblue,clrblue
#property indicator_style1 style_solid
#property indicator_width1 2.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.