StockFetcher Forums · Filter Exchange · McClellan Oscillator and Summation Index<< >>Post Follow-up
tomm1111
198 posts
msg #77838
Ignore tomm1111
modified
8/23/2009 1:51:08 AM

Here is the McClellan Oscillator and Summation Index (non-adjusted). Watch for McClellan crossing zero and/or the slope of the McClellan Summation Index. A good description is on the following link:

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:introduction_to_mark#mcclellan_summation_index

Fetcher[
symlist(spy)

set{vara,ind(^advn,close)}
set{vard,ind(^decn,close)}

set{var,vara - vard}

set{var1,cema(var,39)}
set{var2,cema(var,19)}

set{mcclellan,var2 - var1}
draw mcclellan
draw mcclellan line at 0

set{mcclellansumindex,sum(mcclellan,100)}
draw mcclellansumindex

show stocks close above 1
and volume above 100000
]





chetron
2,817 posts
msg #77841
Ignore chetron
8/23/2009 8:35:07 AM

what is spyM ?

chetron
2,817 posts
msg #77842
Ignore chetron
8/23/2009 8:58:59 AM

how about....


Fetcher[
set{vara,ind(^advn,close)}
set{vard,ind(^decn,close)}

set{var,vara - vard}
set{var1,cema(var,39)}
set{var2,cema(var,19)}

set{mcclellan,var2 - var1}
draw mcclellan
draw mcclellan line at 0

set{mcclellansumindex,sum(mcclellan,100)}
draw mcclellansumindex

8 day slope mcclellansumindex below 0
8 day slope mcclellan above 0

show stocks close above 1
and volume above 100000
]



tomm1111
198 posts
msg #77845
Ignore tomm1111
8/23/2009 10:28:20 AM

oops...spyM is a bit of nothingness..fixed. Thanks chetron.

tomm1111
198 posts
msg #77846
Ignore tomm1111
8/23/2009 10:48:08 AM

Here is one more way to look at it. I've added a moving average to the Summation and the difference between the two. I used spy to represent the SP500. Since this is a market breadth indicator the scan will not sort out individual stocks but can used as momentum indicator to the market. I will usually run this prior my other scans to get a feel for which the direction the market may go the following day.


Fetcher[
symlist(spy)

set{vara,ind(^advn,close)}
set{vard,ind(^decn,close)}

set{var,vara - vard}

set{var1,cema(var,39)}
set{var2,cema(var,19)}

set{mcclellan,var2 - var1}
draw mcclellan
draw mcclellan line at 0

set{mcclellansumindex,sum(mcclellan,100)}
draw mcclellansumindex

set{movavg,cwma(mcclellansumindex,9)}
draw movavg on plot mcclellansumindex

set{diff,mcclellansumindex - movavg}
draw diff
draw diff line at 0

show stocks close above 1
and volume above 100000
]



dangreene
133 posts
msg #80968
Ignore dangreene
modified
10/11/2009 5:50:30 PM

My bad.

chetron
2,817 posts
msg #90697
Ignore chetron
modified
4/2/2010 8:22:36 AM

mcclellan's for advanced subs.....
sorry..


Fetcher[


****************
set{v1,close 1 day ago}
set{vud,close - v1}
set{vud1,count(vud above -0,1)}
set{vudf,vud * vud1}
set{vudema,cema(vudf,2)}

set{vdd,v1 - close}
set{vdd1,count(vdd above -0,1)}
set{vddf,vdd * vdd1}
set{vddema,cema(vddf,2)}

set{myrsi1,vudema / vddema}
set{myrsi2,1 + myrsi1}
set{myrsi3,1 / myrsi2}
set{myrsi4,myrsi3 * 100}
set{rsi,100 - myrsi4}


set{var3a, vud - vdd}
set{AD_19, CEMA(var3a,19)}
set{AD_39, CEMA(var3a,39)}
set{AD_McClellan, AD_19 - AD_39}
set{AD_summation, sum(AD_McClellan,40)}

draw AD_Summation

draw AD_McClellan line at 0
draw AD_Summation line at 0

*************************************


/* WSG */
Set{MA100,CMA(AD_McClellan,10)}
set{SD,cstddev(AD_McClellan,10)}
set{SD100,1.25 * SD}
set{BOLU,MA100 + SD100}
set{BOLD,MA100 - SD100}

draw BOLU on plot AD_McClellan
draw BOLD on plot AD_McClellan

*************************************

add column AD_McClellan {McClellan Oscillator}
add column AD_Summation {Summation Index}

AD_Summation crossed above 0

close above .1
volume above 100000

]




maybe ....


Fetcher[



****************
set{v1,close 1 day ago}
set{vud,close - v1}
set{vud1,count(vud above -0,1)}
set{vudf,vud * vud1}
set{vudema,cema(vudf,2)}

set{vdd,v1 - close}
set{vdd1,count(vdd above -0,1)}
set{vddf,vdd * vdd1}
set{vddema,cema(vddf,2)}

set{myrsi1,vudema / vddema}
set{myrsi2,1 + myrsi1}
set{myrsi3,1 / myrsi2}
set{myrsi4,myrsi3 * 100}
set{rsi,100 - myrsi4}


set{var3a, vud - vdd}
set{AD_19, CEMA(var3a,19)}
set{AD_39, CEMA(var3a,39)}
set{AD_McClellan, AD_19 - AD_39}
set{AD_summation, sum(AD_McClellan,40)}

draw AD_Summation

draw AD_McClellan line at 0
draw AD_Summation line at 0

*************************************


/* WSG */
Set{MA100,CMA(AD_McClellan,10)}
set{SD,cstddev(AD_McClellan,10)}
set{SD100,1.25 * SD}
set{BOLU,MA100 + SD100}
set{BOLD,MA100 - SD100}

draw BOLU on plot AD_McClellan
draw BOLD on plot AD_McClellan

*************************************

add column AD_McClellan {McClellan Oscillator}
add column AD_Summation {Summation Index}

AD_mcclellan crossed above bold

close above .1
volume above 100000

]




Eman93
4,659 posts
msg #92788
Ignore Eman93
5/15/2010 8:50:37 PM


McClellan Oscillator
What Does It Mean?
What Does McClellan Oscillator Mean?
A market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. It is primarily used for short and intermediate term trading.

To calculate subtract a 39 day EMA (of advancing issues - declining issues) from a 19 day EMA (of advancing issues - declining issues).

Simplified, it looks as follows: (19 Day EMA of Advances - Declines) - (39 Day EMA of Advances - Declines)
Investopedia Says
Investopedia explains McClellan Oscillator
Usually, a small number of stocks making large gains characterizes a weakening bull market. This gives the perception that the overall market is healthy, but in reality it isn't, as rising prices are being driven by a small number of stocks. Conversely, when a bear market is still declining, but a smaller amount of stocks are declining, an end to the bear market may be near.

Eman93
4,659 posts
msg #92789
Ignore Eman93
5/15/2010 8:59:03 PM

http://stockcharts.com/charts/indices/McSumNYSE.html

StockFetcher Forums · Filter Exchange · McClellan Oscillator and Summation Index<< >>Post Follow-up

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