This indicator is derived from the weekly net advances, the number of advancing issues less the number of declining issues. By applying 2 exponential moving averages (short and longer one) of net advances this is a perfect momentum as well as breadth indicator.
WSC used a slightly different formula to calculate the McClellan Oscillator.
Indicator Details
Updated:
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weekly
Signals:
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Bullish: McClellan Short closes above McClellan Long
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Bearish: McClellan Short closes below McClellan Long
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Watch out for divergences between the market and that indicator
