The formula for calculating the qstick indicator with excel is as follows:
moving average n periods of (closing-opening)
This indicator was created by Tushar Chande and measures buying and selling pressure without considering volumes.
When the price, on average, closes lower than when it opens, the indicator moves lower. When the price, on average, is closing higher than the open, the indicator rises.
The signal occurs when the qstick crosses the zero line up or down.
Above zero indicates that buying pressure is increasing and vice versa below zero.
Here is the graph created with excel made with a 20-period moving average on a daily scale on the euro price of BTC:
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THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.
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