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McClellan Oscillator & Summation Index
Exported using NT Version 7.0.1000.12
Following a request by a member of this forum I have quickly implemented a version of the McClellan Oscillator and the (calibrated) McClellan Summation Index. The indicators can only be used with daily data. It is required that your daily data feed includes data for the net advancing/declining issues. The NinjaTrader symbol is ^ADD. The data is also available through the free Kinetick EOD data feed.
McClellan Oscillator
: The McClellan Oscillator is a MACD calculated from the NYSE net advancing/declining issues. The oscillator is calculated from the 10% trend and the 5% trend, or otherwise put from an EMA(19) and an EMA(39).
McClellan Summation Index
: The McClellan Summation Index is obtained by adding up the values of the McClellan Oscillator. It is neutral at the +1000 level. Historically the neutral level was shifted to + 1000 to make negative levels rare and noteworthy. The indicator attached follows the formula published in the June 1994 issue of Technical Analysis of Stocks & Commodities.
The indicator values that will be displayed depend on the input data. I have noticed that the data for advancing/declining issues used by McClellan Financial Publications slightly differs from the data supplied by Kinetick EOD. The indicator values are therefore similar, but not identical. For practical purposes the accuracy should be sufficient.
For further information please visit:
https://www.mcoscillator.com/learning_center/kb/mcclellan_oscillator/the_mcclellan_oscillator_summation_index/
Category
NinjaTrader 7 Indicators
Details:
McClellan Oscillator & Summation Index
Category:
NinjaTrader 7 Indicators
March 17th, 2013
Size: 7.53 KB
Downloaded: 656 times
Keywords:
index
mcclellan
oscillator
summation
1379
Fat Tails
Comments/ratings
typer77
March 17th, 2013 07:50 AM
Harry!! Beautiful indicator! thank you!!
pmat
March 27th, 2013 06:20 PM
100000 Thanks
GILAZ
May 4th, 2013 06:20 AM
Hello,
All this is new to me and I must study it.
dnkhoward2
January 3rd, 2016 12:34 PM
Thanks Fat Tails
tradethetick
June 23rd, 2016 08:48 PM
Thanks for the indicator. I am not sure how to change EMA to SMA or the MACD settings in the indicator. Is there guide on how to set this up?
JadeL
October 6th, 2020 11:16 AM
Thank you
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