NWSL100 SIMcClellan Summation Index
The McClellan Summation Index ia a long term measure of market breadth. It is a different way of quantifying the movements in the market other than looking at the price levels of the different indices. The Summation Index is positive when it’s above the zero lines. Drops below the zero line are negative.
It works together with the McClellan Oscillator. The Summation Index rises when the McClellan Oscillator is positive and falls when the McClellan Oscillator is negative.