McClellan Oscillator Jack Corsellis [LazyBear Modified]

4 Eki 2021

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.

The original code was written by LazyBear ( code here: tradingview.com/script/8YstxIAf-McClellan-Oscillator-LazyBear/)

We have modified this code:
1. Added the ability to display and configure the overbought and undersold lines which are key to properly using this indicator. These are set to default +40 and -75 respectively.
2. This version uses USI:ADV(advances- issues) and USI:DECL (declines - issues) as the default.

11 Eki 2021

Sürüm Notları

Revision:

Updated default symbols:

USI: ADV -> ADVN
USI:DECL -> DECN

11 Eki 2021

Sürüm Notları

Updated chart screenshot