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The McClellan indicator is like a MACD for breadth. It is not bounded, so
you are free to place your horizontal lines wherever they are meaningful to
you. In the US I use it mainly for divergences - it's a good leading
indicator of turning points.
If you are doing comparisons over the longer term, then use the adjusted
form.
-----Original Message-----
From: draggiedriver [mailto:maluabay@xxxxxxxxxx]
Sent: Tuesday, October 05, 2004 4:40 AM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] McClellan Indicators on the ASX (Heads up - Noob)
Hi everyone,
I've been reading about market breadth indicators since my last post
some months ago. While TRIN takes my fancy, so does the McClellan
family of indicators. Only problem being that the overbought/sold
parameters seem predicated on the size of the US markets, so the
100/75//-75/-100 signal lines in the oscillator, say, would not be
valid on the ASX's smaller market size.
Of course, I may be missing something...
Any ideas, advice or help gratefully received
D
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