The Chandes Quick Trader indicator for Metatrader 5 is a standalone trading tool that performs well under various market conditions.
The indicator gets displayed in a sub-chart window and blue and orange colored trade zones.
How does it spot the market trend?
- The blue colored zone indicates an uptrending market.
- The orange colored zone indicates a downtrending market.
The following indicator inputs and parameters can be modified: QStick period, QStick average method, smoothing period, smoothing method.
Valuable trading tips for scalping with the Chandes Quick Trader on the M1 and M5 charts:
- Deploy on the low-spread currency pairs.
- Trade only during the most volatile trading hours.
- Avoid exotic pairs.
It supports all time frames, Forex pairs, Indices, Stocks, Metals, etc.
Make yourself familiar with this technical indicator and thoroughly test and evaluate it until you fully understand how it works.
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Chandes Quick Stick (QStick).mq5 Indicator (MT5)
Chart Example
The following chart shows how the Chandes Quick Trader indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Chandes Quick Trader Indicator?
Find a simple trading example below:
Buy Signal
- The appearance of the blue colored Chandes zone represents a buy signal.
- Initiate a buy order and add a protective stop below the most recent support region.
- Exit the long trade for a fixed take profit target, or wait for a sell signal.
Sell Signal
- The appearance of the orange colored Chandes zone represents a sell signal.
- Initiate a sell order and add a protective stop above the most recent resistance region.
- Exit the short trade for a fixed take profit target, or wait for a buy signal.
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Chandes Quick Stick (QStick).mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Chandes Quick Stick (QStick).mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration