NWSM200 MO

The McClellan Oscillator is based on net advances of daily stock gainers minus daily losers.  It’s derived by subtracting a 39-day EMA of net advances from its 19-day EMA.  It’s a short-term momentum indicator of market breadth and can be applied to any group of digital assets to assess the strength of their current trend. 

It works together with The McClellan Summation Index, which is a running cumulative total of the Oscillator, and is a longer-term measure of breadth. Oscillator moves above zero cause the Summation Index to rise. Both indicators were developed by Sherman and Marian McClellan.