The Enhanced McClellan Summation Index (MSI) is a comprehensive tool that transforms the MSI indicator with Heikin-Ashi visualization, offering improved trend analysis and momentum insights. This indicator includes MACD and it's histogram calculations to refine trend signals, minimize false positives and offer additional momentum analysis.
Methodology:
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Four indicators in one based on the McClellan Oscillator for both the NYSE and Nasdaq exchanges. Designed to be used in conjunction with each other- plot the Oscillator (Osc), Summation Index (MSI), and RSI/MACD of the MSI on both your SPX and Nasdaq chart. Select the exchange and indicator within the settings. These tools are secondary- but when the signals are...
script to sum rolling 20 (default) period's prices together
use on volume indicators to get the likes of McClellan Summation
User selection: rolling periods to add
About McClellan Summation Index
The McClellan Summation Index is a market breadth indicator which was developed by Sherman and Marian McClellan. It is based on the McClellan Oscillator and add its values together, effectively running a total. The index goes up when the McClellan Oscillator is positive and goes down when it is negative. Signals can be derived...
This script contains McClellan Summation Index(MSI) and McClellan Oscillator(MO)
(1) What is McClellan Summation Index(MSI)
McClellan Summation Index(MSI) is a breadth indicator derived the McClellan Oscillator(MO),
which is a breadth indicator based on Net Advances (advancing issues less declining issues).
The Summation Index is simply a running total of the...
McClellan Summation Index is a breadth indicator derived from McClellan Oscillator ().
The Summation Index is simply a running total of the McClellan Oscillator values. Even though it is called a Summation Index, the indicator is really an oscillator that fluctuates above/below zero. As such, signals can be derived from bullish/bearish divergences, directional...
Based on the description in Murphy, Tech. Analysis of Financial Markets. Wikipeadia also has a good description:
en.wikipedia.org
Without warranty - please trade based on your own analysis and let me know if you find any errors in the script.
![DAX: [Unxi]McClellan Summation Index for DAX 30 (GER30) [modified]](https://s3.tradingview.com/u/UhLgxT1Y_mid.png "[Unxi]McClellan Summation Index for DAX 30 (GER30) [modified]")
![ES1!: [KY]McClellan Summation Index RSI](https://s3.tradingview.com/o/O4VzAz3F_mid.png "[KY]McClellan Summation Index RSI")
![NY: McClellan Summation Index [LazyBear]](https://s3.tradingview.com/m/m1SIvJNP_mid.png "McClellan Summation Index [LazyBear]")
