[RS]Modified McClellan Oscilator V0

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study(title="[RS]Modified McClellan Oscilator V0")
//  ||----------------------------------------------------------------------------------------------------------------------------
//  source: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:mcclellan_oscillator
//  Ratio Adjusted Net Advances (RANA): (Advances - Declines)/(Advances + Declines)
//    McClellan Oscillator: 19-day EMA of RANA - 39-day EMA of RANA
//  19-day EMA* = (Current Day RANA - Prior Day EMA) * .10 + Prior Day EMA)
//  39-day EMA* = (Current Day RANA - Prior Day EMA) * .05 + Prior Day EMA)
//  * The first EMA calculation is a simple average. 
//  ||----------------------------------------------------------------------------------------------------------------------------
fast_length = input(title='EMA - Fast Length:', type=integer, defval=19)
slow_length = input(title='EMA - Slow Length:', type=integer, defval=39)
USE_RANA = input(title='Use Ratio Adjustment Net Advancement:', type=bool, defval=true)

advance = cum(close > open ? close - open : 0)
decline = cum(close < open ? open - close : 0)

adv_dec = USE_RANA ? ((advance-decline)/(advance+decline)) : change(close)
ma_fast = ema(adv_dec, fast_length)
ma_slow = ema(adv_dec, slow_length)

mcl_osc = ma_fast-ma_slow
hline(0, color=black)


summation index is more suitable for indices?
i wouldnt know(no experience with indices/stocks/options), but so far the script works fine for forex.
perhaps the method im using for extracting advances/declines isnt much diferent from the index's (ADVN - DECN)
+1 Resposta
Ricardo, in the Multiple Mov Avg Candle System V1 you have an option for the "Trading Vector"? I not sure I understand the basis for this. Can you explain? Thanks. Konrad.
RicardoSantos KXRTrading123
is just a crude line tracking advances and declines
Temporal Open Differential V0 , do will release it ?
RicardoSantos ChaschiPapraniku
+4 Resposta
here's the stockcharts explanation of McClellan summation index

explanation on NYSE summation index
wow! The NYSE Summation Index is actually the summation of another index, the McClellan Summation Index
looks like i made a mistake: basis on advance and decline stocks for the oscilator, i was basing it on current instrument and looks like i need to use securitys to get the adv / dec index's( $ISSU , $ADVN , $DECN )
jangseohee RicardoSantos
no worries, it is trial and error
just a update:

see if i update it tonight :P
i like it as it is but its not incorporating the adv/dec index's yet
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