Chande QStick v1 Indicator for MT4
The chande QStick v1 Indicator for Meta Trader 4 is an indicator that works very much like the MACD which tells the trader what the current price trend is by simply crossing its zero lines upwards or downwards. This indicator, however, incorporates an additional element that maps out when the price is strongly trending and when it has started slowing. A trader can gain a lot of insight from using this indicator.
Some Advantages and Disadvantages of using the Chande QStick v1 Indicator for Meta Trader 4
One of the advantages of using the chande QStick v1 Indicator for Meta Trader 4 is that it enables the trader to quickly identify when a new trend change is happening in the markets regardless of the timeframe, currency pair or trading asset where the said change is happening. This means that the indicator can be used by the trader to easily determine whether a currency pair is trending up or trending downwards and if they are trending strongly in the particular direction or not.
This will then assist the trader to know whether they should buy or sell and whether it is a good time to be buying or selling even if the price has been moving up or down. The trader can take this a step further by then analyzing his entire watchlist this way until he finds currency pairs or trading assets that he can capitalize on immediately.
Another added benefit of using the chande QStick v1 Indicator for Meta Trader 4 is that it would help to guide a trader in a particular direction until a trend has changed completely. This implies that a trader in a buy trade, for instance, can keep with the trend so long as the indicator has not printed any bars beneath its zero lines. Keeping the charts this way will help the trader to make huge gains when very large trends occur as the indicator will help him or her to stay in the entire trend. The trader also needs to understand that with using this strategy, there will be times when the market is not going anywhere. These ranging periods should be identified by an indicator that identifies ranges and then the trader can stay away from these periods only entering trades when the market starts to trend, in the direction of the trend.
An added benefit of using the chande QStick v1 Indicator for Meta Trader 4 is that it can work extremely well with price action strategies like support and resistance flips and bounces and trendline trades. The indicator works well with these types of trades because using these price action strategies, the trader can effectively discover the times when there's inactivity in the markets due to low volatility and then either wait for the price to break out of such periods and or zones or avoid such periods entirely. This means that traders who wish to maximize the use of this indicator should introduce some of these price action strategies to help them make better trading decisions.
A trader who also wishes to get more accurate signals from the chande QStick v1 Indicator for Meta Trader 4 would need to move up to a much higher timeframe as with this indicator, the higher the timeframes, the more stable and accurate it's signals would be. This would then mean that higher time frames are less prone to false moves in price action, fakeouts by price and other traps which may most likely lead to malfunctioning of the indicator or much lower time frames. This can then help the trader to get better, clearer signals if he stays with it on the higher timeframe.
Moreover, a trader can make huge profits by combining multiple time frames while trading larger time frame moves. Just try to imagine trading very large timeframe moves with very tight stops on a smaller timeframe. To do this, the trader would need to first add the chande QStick v1 Indicator for Meta Trader 4 to all of the trader's charts across all the timeframes the trader will be analyzing before he or she takes a signal or move. Next, the trader can then wait for when a move surfaces only on the larger timeframe. Once such a move occurs, the trader can then look across the different smaller time frames for an equivalent move in the same direction.
The trader can then take trade from any of the smaller time frames in the direction of the larger timeframe. This trade would then be taken with a small stop-loss since it is a smaller timeframe trade but the target should remain the bigger timeframe target. By keeping it this way, the trader will definitely not win all of the trades but the ones that win will more than compensated for the ones that do not work out. This can immediately become a trader's edge in the markets.
The way the chande QStick v1 Indicator for Meta Trader 4 works is by moving its oscillator up and down, above and below its signal line to signify a change in trend direction to the upside or downside. This can help the trader to visually sort out charts at a glance into their respective trends. Also, the indicator has different color schemes that it uses to represent price movements. During an uptrend, the indicator prints a pale blue color to show that the price is trending up strongly.
This tells the trader that a trend has a lot of momentum. When the trend momentum begins to reduce, the indicator then prints a pale brown color to signify that the trend has lost momentum and may likely be changing direction soon or retracing soon. The indicator also uses the same color schemes to help a trader identify if a downtrend has any momentum in it or if the price is or may be getting ready to reverse or change direction. Also, very flat areas where the chande QStick v1 Indicator for Meta Trader 4 does not make any peaks or bottoms that are far away from the middle line at all are signs that momentum is greatly reduced in price and that there might be a range in price at the moment.