McClellan Oscillator for DAX (GER30) [aftabmk modified]About McClellan Oscillator
Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.
As the formula reveals, the McClellan Oscillator is a momentum indicator that works similar to MACD .
McClellan Oscillator signals can be generated with breadth thrusts, centerline crossovers, overall levels and divergences.
About my version
This version here is a modification, though:
- It can only be used on the DAX index (DAX 30 or GER 30)
- It only considers the DAX 30 stocks
- The data window will provide a summary about rising and declining stocks
- The data window will output the last change for each of the 30 stocks
BUG
I am only publishing this version because I am not sure if my current version is saved when I leave tradingview.com without publishing the script.
This version still contains a bug - the if/else clauses do not correctly recognize declining stocks. So the oscillator should not be used as it is.
Working on it these days. Feel free to provide feedback!
Stuff I am working on
- Coloring the area green/red according to the value
- Fixing this bug/making this script more efficient
DISCLAIMER
This script was mainly written for educational purposes (training myself how to write custom indicatotors).
As you can see, the code is really messy.
Credits
Based on the simple version of aftabmk
You can find the original version by searching for McClellan Oscillator for nifty 50.
مؤشر داكس 30
GENIAL DAX indicatorThis trend indicator highlights the price movement through the support and resistance levels, together the calculation of an anchored line that confirms the rupture or bounce of price on those. For calculation is used the combination of simple moving averages for EURUSD, DXY and the correlation with DAX price in real time.
The indicator draws support, resistance and a black line that indicates the correlation calculation.
Good entries could be taken when price breaks or bounce on support or resistance level, and this movement is confirmed by the anchored line.
PM us to obtain access.
DAX VOLUME ADThis Indicator Helps you to understand how underlying volumes are affecting the DAX Index. This is purely based on Auction Market theory and Distributed Kinetic weight.
Excellent tool for short term and Day traders. Enjoy the trading.
REDLINE: UNDERLYING ASSET NEGATIVE VOLUME
GREENLINE: UNDERLYING ASSET POSITIVE VOLUME
BLACKLINE: DIFFERENCE BETWEEN POSITVE AND NEGATIVE Volume
Gray: 11 Period smooth of Blackline
DAX(Germany30) VOLUME AD TICKDAX(Germany) VOLUME AD TICK - Captures the tick volume for DAX index.
@TradeInternals we provide tick volume and tick indices for all global major exchanges