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McClellan Oscillator MT5 Indices Indicator Indices Technical Analysis and McClellan Oscillator MT5 Stock Indexes Indicator

Developed by McClellan.


The McClellan Oscillator MT5 Indices Indicator is an indicator that is based on smoothing the difference between the number of bullish candlesticks and bearish candlesticks. This MetaTrader 5 stock indices indicator looks similar to the traditional MACD.


McClellan Oscillator MT5 Indices Technical Indicator

McClellan Oscillator



Indices Technical Analysis and Generating Indices Trading Signals

This Oscillator MT5 Indices Indicator is a momentum indicator that can be traded in the same way as the MACD indicator. There are 3 techniques that McClellan Oscillator MT5 Indices Indicator can be used to generate stock indices signals.


Zero Center Line Crossover Indices Trading Signals:

Bullish Signals- When the oscillator MT5 stock indices indicator crosses above zero center-line a buy stock indices signal is given.

Bearish Signals- When the oscillator MT5 stock indices indicator crosses below zero center-line a sell stock indices signal is given.


McClellan Oscillator MT5 Indices Technical Indicator

Technical Analysis



Divergence Indices Trading Signals:

Looking for divergences between the McClellan Oscillator MT5 Stock Indexes Indicator and stock indexes price can prove to be very effective in identifying potential reversal and/or indices trend continuation points in stock indexes price movement.


There are several types of divergences:


Classic Divergence (Regular Divergence)



  • Bullish Divergence: Lower lows in stock indexes price action and higher lows in the McClellan Oscillator.


  • Bearish Divergence: Higher highs in stock indexes price and lower highs in the McClellan Oscillator.


Hidden Divergence



  • Bullish Divergence: Higher lows in stock indexes price action and lower lows in McClellan Oscillator.


  • Bearish Divergence: Lower highs in stock indexes price action and higher highs in McClellan Oscillator.


Overbought/Oversold Levels

The McClellan Oscillator MT5 Indices Indicator is also used to identify potential overbought and oversold levels in stock indexes price action movements. The overbought and oversold conditions are generated when the oscillator MT5 stock indices indicator moves to extreme levels on one side and starts to turn, however, in a strong trending market the oscillator MT5 stock indices indicator will stay in the overbought and oversold levels for a long time. It is not recommended to trade overbought and oversold levels to generate stock indexes trading signals. The best signal to use is the Center-line crossover signals to generate stock indices signals.

 

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