Market breadth indicator that
is based on the smoothed difference between the number of advancing
and declining issues on the New York Stock Exchange. To plot the
McClellan Oscillator, create a composite security in the Data Manager
of advancing Issues minus declining Issues. For interpretation refer
to Patterns for Profit by Sherman and Marian McClellan.
||EMA(Close(0), 19) - EMA(Close(0), 39)
Download to import into Tradecision.
How to use this custom indicator in Tradecision:
- Click Download.
- Save this indicator in a safe location on your hard drive.
- Open Tradecision and in the Tools menu click the Indicator Builder.
- In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
Now you can insert the indicator directly into a price chart or modify it like any other in-built indicator.