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McClellan Summation Index?


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McClellan Summation Index?

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TonyB's Avatar
 TonyB 
Bay Area, CA - US
 
Experience: Beginner
Platform: TOS, TS & MC
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Trading: Stock, Options and now Futures (ES)
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TS and MC both have the McClellan Oscillator, and with correct data inputs (typically the NYSE advancers and decliners), it works pretty good, as measured against the published numbers.

Is there a lot involved in creating the McClellan Summation Index, which is built upon the Oscillator? It is said to be (calculation):

Previous day's Summation Index* + current day McClellan Oscillator

* The very first Summation Index is simply the value of the McClellan Oscillator.


Thanks for any help you can provide.

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