How Can I Get Intraday Updates for the McClellan Oscillator? (w/video)


There is a little indicator "hack" that chartists can use to update the McClellan Oscillator during the day. First, note that StockCharts has end-of-day (EOD) symbols for the McClellan Oscillators. Simply search for the term "mcclellan" in the symbol catalog. The symbols beginning with an exclamation point (!) come from the DecisionPoint merger and these indicators are also updated after the close. The ratio-adjusted McClellan Oscillator uses the ratio of net advances [(advances less declines) divided by total issues]. The traditional McClellan Oscillator simply uses net advances (advances less declines). 

This hack works for the Nasdaq and NYSE McClellan Oscillator because StockCharts has intraday data for Nasdaq Net Advances ($NAAD) and NYSE Net Advances ($NYAD). First, create a chart for NYSE Net Advances ($NYAD), which is the base indicator for the NYSE McClellan Oscillator. Note that I made this base indicator invisible in the main chart window and added the 19-day EMA and 39-day EMA because the McClellan Oscillator is the difference between these two EMAs. For reference, I also added $NYAD as an indicator in histogram format below the main window and the NY Composite Index for reference. 

Click this image for a live chart

Chartists can now create the McClellan Oscillator by adding MACD(19,39,1) as an indicator. This will plot the difference between the 19-day EMA of $NYAD and the 39-day EMA of $NYAD. For reference, I also added the NY McClellan Oscillator ($NYMOT) in the lower indicator window. The values are not exact, but they are very close and the line shapes are exactly the same. More importantly, the MACD version is updated during the day and the crosses above/below the zero line are the same for both indicators. 

Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London. Learn More
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