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.
McClellan Oscillator= 19-day EMA of RANA - 39-day EMA of RANA
Ratio Adjusted Net Advances (RANA)= (Advances - Declines)/(Advances + Declines)
As You know on Forex market, we do not have a single currency,
according to which all others are measured.
Therefore I have add menu which allows you to select the nominal currency for calculation.
McClellan Oscillator.lua- (5.71 KiB) Downloaded 1019 times
The indicator was revised and updated
