TRADING THE MCCLELLAN OSCILLATOR

摘要

The McClellan Oscillator is a market "breadth" indicator based on the smoothed difference between the number of advancing and declining issues on the New York Stock Exchange. The oscillator is a popular market breadth indicator that can be used for market timing for short-term traders. This indicator can give traders a true sense of what is happening under the surface in the stock market, making it one of the most popular breadth indicators. The McClellan Oscillator was developed by Sherman and Marian McClellan. Extensive coverage of the oscillator is provided in their book "Patterns for Profit." The McClellan Oscillator measures breadth. Breadth refers to the fraction of stocks that are participating in an up or down move in the market. For example, if a large number of stocks are participating in a down move, then we can interpret this as being bearish. It is said that the downward move has significant breadth.