Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.
As the formula reveals, the McClellan Oscillator is a momentum indicator that works similar to MACD.
McClellan Oscillator signals can be generated with breadth thrusts, centerline crossovers, overall levels and divergences.
I have added the following options: - Can choose Advancing/Declining issues of any market. Default is NYSE. - Can show the EMAs and/or oscillator. - Ratio Adjusted Calculation mode (as explained in the stockcharts link below) or default mode. - Can use custom timeframe. Default is chart timeframe.
Hi Lazy Bear. This does not seem to work on 30 mins or 1 hour or 5 mins or any timeframe other than the Daily. Also for Nasdaq you mentioned in your comments below to use ADVQ & DVCQ, but DVCQ is declining volume and ADVQ is declining stocks, how will the data align? For S&P 500, which advancing and declining index to use? Thank you so much.
ChrisMoody
⋅
GREAT Indicator to Post....I've gotten McClellans reports for probably 10 years now...Good Job...Great Value to the community...
That's what I Call...Strait LazyBear Style....
LazyBear
⋅
Thanks Chris
UDAY_C_Santhakumar
⋅
Good Job. Thanks for doing it. I had it for a future indicator, you did it. Now I have it. Thanks.
LazyBear
⋅
Thanks ucsgears.
SPYderCrusher
⋅
LB you are a gentleman and scholar
LazyBear
⋅
Thank you for the kind words :)
TASAVANT
⋅
Thanks , finally !
LazyBear
⋅
YW.
tytools1
⋅
You should get a Nobel Prize...lo, thanks LazyBear