The Qstick Indicator, developed by Tushar Chande, is a valuable tool for analyzing market sentiment using candlestick body strength. If you’re an MT4 (MetaTrader 4) user, you might be wondering: Can I add the Qstick Indicator to my platform? Yes — and in this guide, you’ll learn exactly how to download, install, and use the Qstick Indicator on MT4 for free.
What Is the Qstick Indicator?
The Qstick Indicator calculates the average difference between closing and opening prices over a specific number of candles.
- Positive values = bullish sentiment
- Negative values = bearish sentiment
- Zero-line crossovers = potential trend change signals
It’s a great addition to any trend-following or momentum-based strategy.
How to Download the Qstick Indicator for MT4
You can download the free custom Qstick Indicator (MQ4 file) from trusted indicator repositories, such as:
- MQL5 Market
- ForexFactory.com
- Your broker’s indicator library
- Trading communities (forums or Telegram groups)
✅ Direct Download (if available from this site):
Click here to download Qstick Indicator for MT4 (.mq4 file)
Replace this with your actual hosted file location.
How to Install the Qstick Indicator on MT4
✅ Step-by-Step Installation Guide
- Download the Qstick.mq4 file to your computer.
- Open your MetaTrader 4 terminal.
- Go to File → Open Data Folder.
- Navigate to:
MQL4 → Indicators - Paste the Qstick.mq4 file into the Indicators folder.
- Close and restart MetaTrader 4.
How to Use the Qstick Indicator on MT4
- Open any chart (e.g., EURUSD, GBPJPY).
- Go to Insert → Indicators → Custom → Qstick.
- Set your desired parameters:
- Period: Common settings include 14, 20, or 30
- MA Type: Choose SMA or EMA
- Click OK, and the indicator will appear in a separate window below the price chart.
How to Interpret Qstick on MT4
- Qstick > 0 = Uptrend / bullish bias
- Qstick < 0 = Downtrend / bearish bias
- Cross above/below zero = Potential buy/sell signal
Tip: Combine it with Moving Averages or RSI for confirmation before entry.
FAQs
1. Is the Qstick Indicator built into MT4 by default?
No. It’s a custom indicator, so you need to manually install the .mq4 file.
2. Is it safe to download from third-party sites?
Yes, as long as you’re using trusted forex forums or broker platforms. Always scan files with antivirus software before installation.
3. Can I use the Qstick Indicator on mobile MT4 apps?
No. Custom indicators only work on the desktop version of MT4.
4. Can I backtest strategies using the Qstick in MT4?
Yes. Once installed, it functions like any native indicator, and you can use it in MT4 strategy testers or with EAs.
5. Can I customize the Qstick calculation (SMA vs. EMA)?
Most versions allow you to select the moving average type and length via the input settings.
