| SEP 1990
Weekly McClellan Oscillator by Arthur A. Merrill, CMT
Weekly McClellan Oscillator by Arthur A. Merrill, CMT In the September 1989 issue of Technical Analysis of Stocks & Commodities, Richard Mogey described and interpreted the McClellan Oscillator. It's based on daily data. My data bank has been developed on a weekly basis. This article is a report on the performance of a weekly McClellan. The daily McClellan is the deviation of a 10% from a 5% exponential average of the daily number of advancing stocks minus the number declining. This is about equivalent to the deviation of a 20-day from a 40-day moving average. To change to a weekly, a 20-day average should be similar to a four-week average; a 40-day should be equivalent to an eight-week average. In turn, a four-week should be equivalent to a 40% exponential of weekly data; to approximate the eight-week I used a 22% exponential. The weekly McClellan, then, is the deviation of the 40% exponential from the 22% exponential.
by Arthur A. Merrill, C.M.T.
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