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Registered User
Joined: 12/30/2004
Posts: 25
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Does anyone have formulae for there two Worden Market Indicators?
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Administration
Joined: 9/30/2004
Posts: 9,187
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The McClellan Summation Index is simply a cumulative indicator (running total) of the McClellan Oscillator.
http://www.worden.com/TeleChartHelp/Indicators/Worden_s_Market_Indicators_T2s.htm
T2123 Cumulative 4week New High/New Low
This is simply the difference between the number of issues reaching new highs (during a 4-week period) and the number of issues reaching new lows (during the same 4-week period). Research results revealed a slight bullish tendency at extreme high readings and a slight bearish tendency at extreme low readings. However, results were not significant enough to warrant reliance on this indicator for market timing purposes.
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Registered User
Joined: 12/30/2004
Posts: 25
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Thanks StockGuy, I realize I knew what McC was but I really want the formula for producing the Cumulative 4wk in TC and Blocks. I want to use on Industry groups and subgroups if I can. I have found it very useful in showing the end and beginning of long term moves.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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plant316,
TeleChart's Personal Criteria Formula Language does not have syntax for referencing other symbols or fundamentals. As a result, I cannot think of an automated method for calculating the McClellan Oscillator, McClellan Summation Index or Cumulative 4week New High/New Low for arbitrary Watchlists in TeleChart.
The McClellan Oscillator and Summation Study located in the Web Library under Market Indicators in Blocks can be adjusted to use any Watchlist desired using QuickEdit (left-clicking on the name of the current Watchlist being used).
Please save the attached .pane file to:
My Documents\Blocks Files\Tool Parts\Chart
You can add it to any chart using the ADD STUDY button and then selecting Add Study | My Computer.
You can use QuickEdit to adjust the settings or view the Block Diagrams.Attachments:
New Highs - New Lows.pane - 14 KB, downloaded 548 time(s).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 12/30/2004
Posts: 25
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Thanks Bruce
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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plant316,
You're welcome. Our pleasure.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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