Input Information
| Name | Expression | Default | Description |
Market Synopsis
Table of Contents
- Introduction
- History of the McClellan Oscillator
- Calculation Methodology
- Interpreting the McClellan Oscillator
- Advantages of Using the McClellan Oscillator
- Limitations of the McClellan Oscillator
- Conclusion
Introduction
The McClellan Oscillator is a technical analysis tool used to measure the momentum of stock market trends. It was developed by Sherman and Marian McClellan in 1969 and is based on analyzing the difference between two moving averages of various stocks.
History of the McClellan Oscillator
The McClellans were both professional investors who worked for several firms before venturing out on their own. They spent years researching market indicators and finally created the McClellan Oscillator, which has since become a widely accepted tool among technical analysts.
Calculation Methodology
The McClellan Oscillator is calculated by subtracting a 39-day EMA (Exponential Moving Average) of the number of advancing stocks from a 19-day EMA of the number of declining stocks. The resulting value is plotted on a graph, with zero as the center point.
Interpreting the McClellan Oscillator
When the McClellan Oscillator is above zero, it indicates that there are more advancing stocks than declining stocks, and the market is bullish. Conversely, when the oscillator is below zero, it indicates that there are more declining stocks than advancing stocks, and the market is bearish.
Advantages of Using the McClellan Oscillator
- Provides a quick and easy way to determine market trends
- Can be used in conjunction with other technical analysis tools for better accuracy
- Can be used for both short-term and long-term trading strategies
- Helps identify overbought or oversold conditions in the market
Limitations of the McClellan Oscillator
- May not accurately predict sudden market shifts or unexpected news events
- May provide false signals during periods of low market activity
- Should not be used as the sole indicator for making investment decisions
Conclusion
The McClellan Oscillator is a powerful tool for technical analysts looking to measure momentum in the stock market. While it has its limitations, it can be an effective addition to any trader’s toolkit when used in conjunction with other indicators and analysis techniques.
Plot Information
| Number | Name | Default Color | Description |
Indicators
- Accumulation Swing Index ASI
- Accumulation/Distribution AD
- Adaptive moving average
- Alligator (Gator_2)
- Alligator (Gator)
- Aroon Down Indicator
- Aroon Oscillator
- Aroon Up Indicator
- Average Directional Movement Index ADX
- Average True Range- ATR
- Awesome Oscillator
- Bears Power
- Bollinger Bands-BB
- Bubi Candles
- Bulls Power
- BW-ZoneTrade-BWZT
- Chaikin Oscillator
- Chaikin Volatility-CHV
- ColorBars
- ColorLine
- Commodities Channel Index- CCI
- Crossover of Moving Averages
- Demarker Indicator
- Detrended Price Oscillator-DPO
- Directional Indicators-DI
- Directional Movement Index-DMI
- Disparity Index
- Double exponential moving average
- Double Exponential Moving Average DEMA
- Dynamic Support and Resistance
- Envelopes
- Exponential Moving Average-EMA
- Force Index
- Fractal Adaptive Moving Average-FrAMA
- Fractals
- Heikin Ashi
- Ichimoku Kinko Hyo (ichimoku)
- Keltner channel
- Market Facilitation Index
- Mass Index indicator (MI)
- McClellan Oscillator
- Momentum
- Money Flow Index MFI
- Moving Average
- Moving Average Convergence/ Divergence MACD MAC D
- Moving Average MV
- Moving Average of Oscillator
- On Balance Volume OBV
- Oscillator of a Moving Average OsMA ( MACD Histogram)
- Parabolic
- Parabolic SAR
- Price and Volume Trend (VPT) Indicator
- Price Channel Indicator
- Range Indicator
- Rate of Change ROC
- Relative Strength Index RSI
- Relative Vigor Index RVI
- Simple Moving Average SMA
- Smoothed Moving Average SMMA Custom Moving Average
- Standard Deviation (StdDev)
- Stochastic Oscillator
- The triple exponential average TRIX indicator
- Triple Exponential Average
- Triple Exponential Moving Average TEMA
- Triple Moving Average Crossover
- True Strength Index TSI
- Ultimate Oscillator
- Variable index Dynamic Average (VIDYA)
- Volume Rate of Change VROC
- Weighted Moving Average WMA
- Williams’ Percent Range-Williams %R Larry Williams Percentage Range (WPR)
Fundamental Summary
- Coming soon!!
Technical Summary
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