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General TradingM
McClellan Oscillator
A market breadth indicator derived from the difference between advancing and declining issues on a stock exchange. It uses exponential moving averages to identify overbought and oversold conditions in the broader market.
Example
“When the McClellan Oscillator dropped below -100 on the NYSE, it signaled extreme oversold breadth conditions, and the market rallied 5% over the following two weeks.”