MCCLELLAN OSCILLATOR
A technical analysis indicator based on the breadth between number of advancing and declining issues in the New York Stock Exchange. This is used to judge the strength of a market move in short and moderate term trading.
To calculate McClellan Oscillator, subtract a 39-day exponential moving average or EMA (of advancing issues - declining issues) from a 19-day EMA (of advances - declines). This indicator was formulated by Sherman and Marian McClellan.
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