The McClellan Summation is a cumulative total of the McClellan Oscillator. The interpretation is similar to the McClellan Oscillator, but the Summation indicates longer term trends.
Market bottoms occur when the Summation drops below -1300. Market tops occur when the Summation rises above +1600. Major bull markets are signaled by a move above +1900 from a low.
McClellan Oscillator and McClellan Summation were developed by Sherman and Marian McClellan.
Calculation:
McO = McClellan Oscillator indicator value
PrevMcSum = The previous value of the indicator
Inputs:
Group = XU100
Indicates the portfolio, group or index.
Short Period = 19
Indicates short time period(the number of days for daily analysis, the number of weeks for weekly analysis, etc.).
Long Period = 39
Indicates long time period(the number of days for daily analysis, the number of weeks for weekly analysis, etc.).
Indicator Type: Market Breadth