LazyBear

McClellan Oscillator [LazyBear]

Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.

As the formula reveals, the McClellan Oscillator is a momentum indicator that works similar to MACD .

McClellan Oscillator signals can be generated with breadth thrusts, centerline crossovers, overall levels and divergences.

I have added the following options:
- Can choose Advancing/Declining issues of any market. Default is NYSE.
- Can show the EMAs and/or oscillator.
- Ratio Adjusted Calculation mode (as explained in the stockcharts link below) or default mode.
- Can use custom timeframe. Default is chart timeframe.

More info:
http://stockcharts.com/school/doku.php?i...

Complete list of my indicators:
https://docs.google.com/document/d/15AGC...

Thanks @mpinky for pointing out the StockCharts version of this oscillator.


List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.

Vuoi usare questo script sui tuoi grafici?
//
// @author LazyBear 
// List of all my indicators: 
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
//
study("McClellan Oscillator [LazyBear]", shorttitle="MO_LB")
advissues=input(defval="ADVN", title="Advancing Stocks Symbol", type=symbol)
decissues=input(defval="DECN", title="Declining Stocks Symbol", type=symbol)
isRA=input(true, title="Stockcharts version (Ratio Adjusted)?")
rm=input(defval=1000, title="RANA ratio multiplier")
showEMAs=input(false, title="Show EMAs?")
showOsc=input(true, title="Show Oscillator?")

useCTF=input(false, title="Use Custom Timeframe?"), 
tf=useCTF?input("D", type=resolution, title="Custom Timeframe"):period
ai=security(advissues, tf, close), di=security(decissues, tf, close)
rana=rm * (ai-di)/(ai+di)
e1=isRA?ema(rana, 19):ema(ai-di, 19),e2=isRA?ema(rana, 39):ema(ai-di, 39)
mo=e1-e2

hline(0, title="ZeroLine")
plot(showOsc?mo<0?mo:0:na, style=area, color=red, title="MO_Negative")
plot(showOsc?mo>=0?mo:0:na, style=area, color=green, title="MO_Positive")
plot(showOsc?mo:na, style=line, color=black, title="MO", linewidth=2)
plot(showEMAs?e1:na, color=blue, linewidth=2, title="19 EMA")
plot(showEMAs?e2:na, color=red, linewidth=2, title="39 EMA")