FTB-C000034 / Indicator

McClellan Volume Oscillator

A breadth-volume oscillator equal to the 10% Trend minus the 5% Trend of Up Volume minus Down Volume.

Also known asVolume McClellan OscillatorMVO

Advanced Formula defined 2 linked topicsPublished

Definitions

In plain terms

This oscillator applies the McClellan fast-versus-slow comparison to trading volume assigned to advancing and declining issues instead of to issue counts.

Technical

For volume-difference input V_t = UV_t - DV_t, compute the 10% and 5% recursive trends under one declared initialization policy and return MVO_t = T10_t(V)-T5_t(V).

Scope

The volume-input and 10/5 trend relationship are sourced; volume eligibility, allocation, units, corporate-action treatment, seeding, revisions, and missing sessions require explicit package policies.

Formula

V_t = UV_t - DV_t; MVO_t = T10_t(V) - T5_t(V)
LaTeX: V_t=UV_t-DV_t,\quad MVO_t=T^{10}_t(V)-T^{5}_t(V)
SymbolMeaningUnit
UV_tUp Volume at tshare-volume units
DV_tDown Volume at tshare-volume units
V_tVolume-difference inputshare-volume units
MVO_tMcClellan Volume Oscillatorshare-volume units

Output unit: share-volume units

Examples

  • If the ready fast volume trend is 1.8 million shares and the slow trend is 1.5 million shares, the oscillator is 0.3 million shares.

Common misconceptions

  • The Volume Oscillator is not the issue-count McClellan Oscillator multiplied by total market volume.

Concept relationships

Prerequisites

Broader concepts

Derived from

Feeds into

Required by

Where this concept is used

Tutorials planned

These catalogued topics use this concept, but their complete build has not shipped yet.

  • D04-F02-A05 Primary
  • D04-F02-A06 Prerequisite

Evidence and governance

  1. A Subtle Message in the Volume Summation Index McClellan Financial Publications · first party technical publication

    Supports: preferred label, short definition, technical definition, formula, units, variant distinction

    Limits: The article's market interpretation is excluded as evidence of forecasting, causation, thresholds, or profitable trading behavior.

Reviewed by
Last reviewed
2026-07-26
Next review
2027-07-26
Record status
published
Written by

Fintech engineer building market-data and financial systems, and the author of every article, glossary record, and reference implementation on The Fintech Builder.