Definitions
In plain terms
The traditional oscillator compares a faster and a slower exponential trend of net advances. Positive values mean the faster trend is above the slower trend at that observation.
Technical
For raw issue-count input X_t = A_t - D_t, compute the 10% and 5% recursive trends under one declared initialization policy and return MO_t = T10_t - T5_t whenever both states are ready.
Scope
Traditional means the input is an unnormalized issue-count difference; universe, eligibility, initialization, missing sessions, revisions, rounding, and signals remain explicit package policies.
Formula
MO_t = T10_t(A_t - D_t) - T5_t(A_t - D_t)MO_t=T^{10}_t(A_t-D_t)-T^{5}_t(A_t-D_t)| Symbol | Meaning | Unit |
|---|---|---|
A_t | Advancing issue count at t | issues |
D_t | Declining issue count at t | issues |
T10_t | Ready 10 percent trend | issues |
T5_t | Ready 5 percent trend | issues |
MO_t | Traditional McClellan Oscillator | issues |
Output unit: issues
Examples
- If the ready 10% Trend is 32 issues and the 5% Trend is 27 issues, the oscillator is positive 5 issues.
Common misconceptions
- The traditional oscillator is not ratio-adjusted and therefore can change scale when the eligible universe changes.
Concept relationships
Broader concepts
Feeds into
Required by
Where this concept is used
- PrimaryTraditional McClellan Oscillator: Compare Fast and Slow Raw BreadthD04-F02-A01
- PrerequisiteRatio-Adjusted McClellan OscillatorD04-F02-A02
- PrerequisiteTraditional McClellan Summation IndexD04-F02-A03
- PrerequisiteMcClellan Volume OscillatorD04-F02-A05
- PrerequisiteMcClellan Volume Summation IndexD04-F02-A06
- MentionedExponential Moving Average (EMA)D07-F01-A02
Evidence and governance
- Calculating the McClellan Oscillator McClellan Financial Publications · first party methodology
Supports: preferred label, short definition, technical definition, formula, units, historical attribution
Limits: Does not prescribe one universal initialization, missing-session, revision-resolution, rounding, or software interface policy.
- McClellan Oscillator StockCharts ChartSchool · secondary methodology
Supports: variant distinction
Limits: Platform symbols, displayed thresholds, universe choices, and implementation details are vendor-specific rather than universal methodology requirements.
- Reviewed by
- fintech-builder-owner-approved
- Last reviewed
- 2026-07-26
- Next review
- 2027-07-26
- Record status
- published