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
只有經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權限。該權限通常在付款後授予。如欲了解更多詳情,請依照以下作者的說明操作,或直接聯絡provalesco。
除非您完全信任其作者並了解腳本的工作原理,否則TradingView不建議您付費或使用腳本。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
提醒:在請求訪問權限之前,請閱讀僅限邀請腳本指南。
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。