Sidebar | JUL 1996
SIDEBAR: Calculating the McClellan Indicators - Technical Analysis, Inc.
CALCULATING THE McCLELLAN INDICATORS - Technical Anlaysis, Inc. The McClellan oscillator can be used for measuring changes in momentum of price, volume, advances and declines. The most common use is for measuring the momentum of the New York Stock Exchange (NYSE) listing of the daily number of stocks that advanced and the number of stocks that declined. The calculation of the McClellan oscillator is a three-step process. First, determine the difference between the number of stocks advancing and the number of stocks declining for each day. This raw number is then smoothed with two exponential moving averages (EMA) to create two different time series. The difference between these two time series is the McClellan oscillator.
by Technical Analysis, Inc.
Technical Analysis of STOCKS & COMMODITIES
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