McClellan Summation Index is a breadth indicator derived from McClellan Oscillator (). The Summation Index is simply a running total of the McClellan Oscillator values. Even though it is called a Summation Index, the indicator is really an oscillator that fluctuates above/below zero. As such, signals can be derived from bullish/bearish divergences, directional...
This script contains McClellan Summation Index(MSI) and McClellan Oscillator(MO) (1) What is McClellan Summation Index(MSI) McClellan Summation Index(MSI) is a breadth indicator derived the McClellan Oscillator(MO), which is a breadth indicator based on Net Advances (advancing issues less declining issues). The Summation Index is simply a running total of the...
Based on the description in Murphy, Tech. Analysis of Financial Markets. Wikipeadia also has a good description: en.wikipedia.org Without warranty - please trade based on your own analysis and let me know if you find any errors in the script.
About McClellan Summation Index The McClellan Summation Index is a market breadth indicator which was developed by Sherman and Marian McClellan. It is based on the McClellan Oscillator and add its values together, effectively running a total. The index goes up when the McClellan Oscillator is positive and goes down when it is negative. Signals can be derived...