mcc_sig

Function Name: mcc_sig

Tags: None

Category: Market Breadth

The McClellan Summation Index is the cumulative sum of all daily McClellan Oscillator readings, and provides a long-range view of market breadth. The Summation Index therefore changes each day by the value of the oscillator, rising when the Oscillator is positive and declining when the Oscillator is negative.

Data components required:

- Advances - Declines

What Does Market Breadth Mean? A technique used in technical analysis that attempts to gauge the direction of the overall market by analyzing the number of companies advancing relative to the number declining. Positive market breadth occurs when more companies are moving higher than are moving lower, and it is used to suggest that the bulls are in control of the momentum. Conversely, a disproportional number of declining securities is used to confirm bearish momentum.

The market, in which a security is traded, has to be selected from the parameter drop-down menu (single klick on the index name, then the drop-down appears); e.g. if the Coppock Breadth of "Adidas" should be calculated, one has to select "DAX".

 

Source: "The Complete Guide to Market Breadth Indicators - How to Analyze and Evaluate Market Direction and Strength"

by G. L. Morris, McGraw-Hill

Author: S. and M. McClellan

 

Index
	Type:
fastPeriod
	Default Value: 19  |  Minimum: 2  |  Maximum: 9999
	Type: Numeric
slowPeriod
	Default Value: 39  |  Minimum: 2  |  Maximum: 9999
	Type: Numeric