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 movement and centerline crossovers. A moving average can also be applied to identify upturns and downturns.
Indicator uses the advancing/declining stocks from NYSE by default, but you can change them to any market in the options dialog.
This indicator doesn't seem to be functioning anymore...any ideas why?
adoringSeafowl32939
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@DistantPattern, Not an expert, but did some googling and looked through the code. I'm wondering if it has something to do with ADVN and DECN only functioning on the daily time frame. There is a ticker ADD that shows Advancers - Decliners on all timeframes. Maybe using that is worth a try.
Timus17
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Hi Lazy Bear,
I'm new to this site and I have a few support tickets out without reply.
I am looking for the McClellan OSC to run on NYSE and Nasdaq.
I don't know where to find the OSC or the legends for either market
Could you or anyone who sees this please help ?
Thanks much
Timus17
Phantom_007
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Thank you. the result varies for different stocks and shouldn't be. something is not correct.
Clubster
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Hi, appreciate the indicator. Any ideas how i can get it to match the values reported in the Stockcharts NASI?
berzul2
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@Clubster, did you have any luck with this? trying to do the same myself.
Clubster
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@berzul2, No...resorted back to using stockcharts for the data...let me know if you fare any better please