McClellan Osc: Difference between revisions
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(Created page with "=== Definition=== The McClellan Oscillator calculates the difference between Advancing Issues and Declining Issues, and then calculates two exponential averages of this diff...") |
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=== Definition=== | === Definition=== | ||
The McClellan Oscillator calculates the difference between Advancing Issues and Declining Issues, | The McClellan Oscillator calculates the difference between Advancing Issues and Declining Issues, then calculates two exponential averages of this difference. The difference between the 2 averages is calculated and plotted on the chart. The difference between advancing issues and declining issues is known as market breadth. For example, if a stock market index is rallying but there are more issues declining than advancing, then the rally is narrow and much of the stock market is not participating. | ||
The McClellan Oscillator uses averages and differences based on this data to gauge market breadth. | The McClellan Oscillator uses averages and differences based on this data to gauge market breadth. The chart must contain both the Advancing Issues and the Declining Issues and the inputs must specify the correct DataN number for each for the McClellan Oscillator to be plotted accurately. As the McClellan Oscillator uses exponential averages, the numeric value of the McClellan Oscillator will depend on the data available in the chart. | ||
===Default Inputs=== | ===Default Inputs=== | ||
