INVITE-ONLY SCRIPT
McClellan Oscillator, with BTCLONG vs BTCSHORT inputs

for more information on the Meclellan oscillator (MO), refer to p.142 "[Charles Kirkpatrick,Julie Dahlquist] Technical analysis, the complete resource of financial market technicians"
"This oscillator is the difference between two exponential
moving averages of advances minus declines. The two averages are an exponential equivalent to
a 19-day and 39-day moving average"
So traditionally the MO is used to gauge "market strength", by comparing the difference in cumulative market advances - cumulative market declines of Nasdaq stocks.
The MO can then be modified with inputs of BTCLONGS and BTCSHORTS (in lieu of the default advance & decline).
What this basically does is, changes the traditional MO to gauge "Optimism/Pessimism strength" of the BTC instead.
The changes made in this Script/indicator from the original is:
- default inputs are changed to BTCLONGS and BTCSHORTS (in lieu of the default advance & decline)
- added horizontal overbought and oversold lines, which are set to +30 % -30, Please do play with these figures and fit to purpose
"This oscillator is the difference between two exponential
moving averages of advances minus declines. The two averages are an exponential equivalent to
a 19-day and 39-day moving average"
So traditionally the MO is used to gauge "market strength", by comparing the difference in cumulative market advances - cumulative market declines of Nasdaq stocks.
The MO can then be modified with inputs of BTCLONGS and BTCSHORTS (in lieu of the default advance & decline).
What this basically does is, changes the traditional MO to gauge "Optimism/Pessimism strength" of the BTC instead.
The changes made in this Script/indicator from the original is:
- default inputs are changed to BTCLONGS and BTCSHORTS (in lieu of the default advance & decline)
- added horizontal overbought and oversold lines, which are set to +30 % -30, Please do play with these figures and fit to purpose
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僅限邀請腳本
僅作者批准的使用者才能訪問此腳本。您需要申請並獲得使用許可,通常需在付款後才能取得。更多詳情,請依照作者以下的指示操作,或直接聯絡provalesco。
TradingView不建議在未完全信任作者並了解其運作方式的情況下購買或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
免責聲明
這些資訊和出版物並非旨在提供,也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。