This post focuses on customizable McClellan Oscillator factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.
Display McClellan Oscillator Values
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List symbols
Add Column McClellan Oscillator as McCOsc
Apply to NiftyThis scan calculates and displays the McClellan Oscillator, which serves as a market indicator. It is important to note that the value obtained from this calculation remains consistent across all symbols traded on the given day.
McClellan Oscillator in Overbought Zone
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List symbols where McClellan has been above 70 for the last 3 bars
Add Column McClellan as McC
Add Column McClellan 1 bar ago as McC_1
Add Column McClellan 2 bars ago as McC_2
Apply to NiftyThis scan verifies whether the McClellan Oscillator has maintained a value above 70 for the past 3 periods. It is important to note that, as a market indicator, all symbols may or may not be displayed depending on the prevailing market conditions.
OPTION 1
To enhance your analysis, you can integrate this market scan with other scans that focus on specific stocks. Here’s how you can combine them:
List symbols where McClellan > 70
And RSI(14) > 70
Add Column McClellan as McC
Add Column RSI(14) as RSI14
Set Date to 10-Feb-2016
Apply to NiftyMcClellan Oscillator in Oversold Zone
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List symbols where McClellan has been below -70 for the last 3 bars
Add Column McClellan
Add Column McClellan 1 bar ago as McClellan_1
Add Column McClellan 2 bars ago as McClellan_2
Apply to NiftyThis scan evaluates whether McClellan has consistently stayed below -70 over the past 3 bars. It is important to note that, being a market indicator, all symbols will either be displayed or none will be displayed, depending on the prevailing market conditions.
OPTION 1
To enhance your analysis, you can incorporate this market scan alongside other stock-based scans by following these steps:
List symbols where McClellan < -70 for the last 3 bars
And RSI(14) < 30
Add Column McClellan
Add Column RSI(14) as RSI14
Set Date to 18-Dec-2019
Apply to NiftyOverbought with a Declining McClellan
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List symbols where McClellan has crossed below 70 after remaining above for 3 bars
Add Column McClellan
Apply to NiftyThis scan aims to identify symbols where the McClellan indicator has recently dropped below the 70 level, after being consistently above it for 3 bars.
It is important to note that, as a market indicator, the results of this scan will either display all symbols or none, depending on the prevailing market conditions.
OPTION 1
To enhance the effectiveness of this market scan, it can be combined with other stock-based scans in the following manner:
List symbols where McClellan has crossed below 70 after remaining above for 3 bars
And RSI(14) has crossed below 70 after remaining above for 3 bars
Add Column McClellan
Add Column RSI(14) as RSI14
Set Date to 27-Jan-20
Apply to NiftyOversold with an Improving McClellan
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List symbols where McClellan has crossed above -70 after remaining below for 3 bars
Add Column McClellan
Apply to NiftyThis scan is designed to identify symbols where the McClellan has recently crossed above the -70 level after being below it for 3 consecutive bars. It is important to note that as a market indicator, the display of symbols will depend on prevailing market conditions.
OPTION 1
To enhance your stock-based scans, consider incorporating this market scan by following these steps:
List symbols where McClellan has crossed above -70 after remaining below for 3 bars
And RSI(14) has crossed above 30 after remaining below for 3 bars
Add Column McClellan
Add Column RSI(14) as RSI14
Set Date to 15-Dec-21
Apply to NiftyFor comprehensive insights into the McClellan Oscillator, including its calculation methodology, effective utilization in trading, applicability to both trading and investing purposes, as well as an exploration of its advantages and limitations as an indicator, click here.