McClellan Oscillator.afl
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  1. //------------------------------------------------------------------------------
  2. //
  3. //  Formula Name:    McClellan Oscillator
  4. //  Author/Uploader: Tomasz Janeczko 
  5. //  E-mail:          tj@amibroker.com
  6. //  Date/Time Added: 2001-06-16 08:26:59
  7. //  Origin:          Originally developed Sherman and Marian McClellan
  8. //  Keywords:        breadth,overbought,oversold
  9. //  Level:           basic
  10. //  Flags:           indicator
  11. //  Formula URL:     http://www.amibroker.com/library/formula.php?id=12
  12. //  Details URL:     http://www.amibroker.com/library/detail.php?id=12
  13. //
  14. //------------------------------------------------------------------------------
  15. //
  16. //  The McClellan Oscillator, developed by Sherman and Marian McClellan, is a
  17. //  market breadth indicator that is based on the smoothed difference between
  18. //  the number of advancing and declining issues on the New York Stock
  19. //  Exchange. The McClellan Oscillator is one of the most popular breadth
  20. //  indicators. Buy signals are typically generated when the McClellan
  21. //  Oscillator falls into the oversold area of -70 to -100 and turns up. Sell
  22. //  signals are generated when the oscillator rises into the overbought area of
  23. //  +70 to +100 and then turns down. Extensive coverage of the McClellan
  24. //  Oscillator is provided in their book "Patterns for Profit" .
  25. //
  26. //------------------------------------------------------------------------------
  27. /*
  28. McClellan Oscillator
  29. */
  30. Graph0 = Ema( AdvIssues()-DecIssues(), 19 ) - Ema( AdvIssues()-DecIssues(), 39 );