OPEN-SOURCE SCRIPT
已更新 McClellan Oscillator - IRUS Optimized
🧠 McClellan Oscillator (IRUS Index)
Type: Market Breadth Indicator
Category: Breadth, Momentum
Purpose: Gauge the internal strength of the IRUS index and anticipate trend reversals
📌 Based on
This indicator is built on the concept of advancing vs. declining issues — the number of stocks rising vs. falling each day within the IRUS index (a custom group of 40 Russian stocks).
It calculates the net advances (advancers minus decliners), then applies two exponential moving averages (EMA):
java
Copy
Edit
McClellan Oscillator = EMA_19(Net Advances) - EMA_39(Net Advances)
Where:
Net Advances = Number of advancing stocks - Number of declining stocks
Calculated from a fixed set of 40 IRUS stocks
🧭 What it shows
Above 0 → more stocks are rising: market is internally strong.
Below 0 → more stocks are falling: underlying weakness.
Rising from below -100 → oversold breadth, possible bullish reversal.
Falling from above +100 → overbought breadth, possible correction.
🎯 How to use it
1. Buy/Sell Signals
Buy: Oscillator drops below -100 and turns up → oversold, potential rally.
Sell: Oscillator rises above +100 and turns down → overbought, risk of pullback.
2. Trend Strength Confirmation
Sustained above 0 → confirms bullish trend.
Crosses below 0 → early warning of weakening market breadth.
3. Divergences with IRUS Price
IRUS rises, but Oscillator falls → narrowing leadership, bearish divergence.
IRUS falls, but Oscillator rises → improving breadth, bullish divergence.
⚠️ Notes
The oscillator measures participation, not price.
Works best with daily timeframe.
Does not account for volume or magnitude of price moves.
Use with price action or other indicators for confirmation.
⚙️ Custom Implementation
This version is specifically adapted for the IRUS index, using a fixed list of 40 component stocks.
Optimized for Pine Script v6 and complies with TradingView's request limits (max 40).
Type: Market Breadth Indicator
Category: Breadth, Momentum
Purpose: Gauge the internal strength of the IRUS index and anticipate trend reversals
📌 Based on
This indicator is built on the concept of advancing vs. declining issues — the number of stocks rising vs. falling each day within the IRUS index (a custom group of 40 Russian stocks).
It calculates the net advances (advancers minus decliners), then applies two exponential moving averages (EMA):
java
Copy
Edit
McClellan Oscillator = EMA_19(Net Advances) - EMA_39(Net Advances)
Where:
Net Advances = Number of advancing stocks - Number of declining stocks
Calculated from a fixed set of 40 IRUS stocks
🧭 What it shows
Above 0 → more stocks are rising: market is internally strong.
Below 0 → more stocks are falling: underlying weakness.
Rising from below -100 → oversold breadth, possible bullish reversal.
Falling from above +100 → overbought breadth, possible correction.
🎯 How to use it
1. Buy/Sell Signals
Buy: Oscillator drops below -100 and turns up → oversold, potential rally.
Sell: Oscillator rises above +100 and turns down → overbought, risk of pullback.
2. Trend Strength Confirmation
Sustained above 0 → confirms bullish trend.
Crosses below 0 → early warning of weakening market breadth.
3. Divergences with IRUS Price
IRUS rises, but Oscillator falls → narrowing leadership, bearish divergence.
IRUS falls, but Oscillator rises → improving breadth, bullish divergence.
⚠️ Notes
The oscillator measures participation, not price.
Works best with daily timeframe.
Does not account for volume or magnitude of price moves.
Use with price action or other indicators for confirmation.
⚙️ Custom Implementation
This version is specifically adapted for the IRUS index, using a fixed list of 40 component stocks.
Optimized for Pine Script v6 and complies with TradingView's request limits (max 40).
發行說明
Updated chart開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。