[RT] Re: Mc CLELLAN EL CODE

["jhnbond" <jhnbond@xxxxxxxxx>]

-
Hi Chas,
I just saw your post for McCellan Oscillator.  If you still need it
--- here it is:

{ *******************************************************************
  
	Study		: McClellan Oscillator
	
	Last Edit	: 1/19/96

	Provided By	: Omega Research, Inc. (c) Copyright 1996

********************************************************************}
Vars: SignalFlag(0), String1("");

Plot1(XAverage(Close of data1 - Close of data2,19) of data1-
XAverage(Close of data1 - Close of data2,39) of data1,"McClellan");

#BeginAlert
	if checkalert and plot1 crosses above 0 or plot1 crosses below 0 then 
		alert = TRUE;
#End;

#BeginCmtry
	if AtCommentaryBar 
	then begin
		String1="";
		SignalFlag=0;
		String1=String1+"Conventional Interpretation: ";
		if plot1 > 0 and plot1[1] <=0 
		then begin
			String1=String1+"The \hbMcClellan Oscillator\he
("+NumToStr(plot1,2)+") has crossed above zero. ";
			String1=String1+"This generally signals a market \hbbottom\he. ";
			SignalFlag=1;
		end
		else if plot1 < 0 and plot1[1] >=0 
		then begin
			String1=String1+"The \hbMcClellan Oscillator\he
("+NumToStr(plot1,2)+") has crossed below zero. ";
			String1=String1+"This generally signals a market \hbtop\he. ";
			SignalFlag=1;
		end
		else begin
			String1=String1+"The \hbMcClellan Oscillator\he
("+NumToStr(plot1,2)+") generates a signal when it crosses zero. ";
			String1=String1+"This is not the case here.";
		end;
		
		String1=String1+NewLine;
		String1=String1+NewLine;
		String1=String1+"Additional Analysis: ";
		if SignalFlag=1 then 
			String1=String1+" No Additional Analysis: "
		else if plot1 >0 
		then begin
			if plot1 < .90 and plot1 > plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is nearer
\hboverbought\he than \hboversold\he,";
				String1=String1+" but may become more overbought before reversing.
 A reading over .90";
				String1=String1+" generally occurs before a \hbtop\he is formed. ";
			end
			else if plot1>=.90 and plot1 > plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is 
\hboverbought\he and may be signaling";
				String1=String1+" that a \hbtop\he is close here. Look for price
weakness to confirm";
				String1=String1+" this outlook. ";
			end
			else if plot1 < .90 and plot1 < plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is somewhat
\hboverbought\he";
				String1=String1+" and is declining. Look for at least a modest
downturn here. ";
			end
			else if plot1>=.90 and plot1 < plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is 
\hboverbought\he and is declining. ";
				String1=String1+"This generally indicates a \hbtop\he.";
			end;
		end
		else if plot1 <=0 
		then begin
			if plot1 >-1.50 and plot1 < plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is nearer
\hboversold\he than \hboverbought\he,";
				String1=String1+" but may become more oversold before reversing. 
A reading below -1.50 ";
				String1=String1+"generally occurs before a \hbbottom\he is formed. ";
			end
			else if plot1<=-1.5 and plot1 < plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is  \hboversold\he
and may be signaling";
				String1=String1+" that a \hbbottom\he is close here. Look for
price strength to confirm";
				String1=String1+" this outlook. ";
			end
			else if plot1 >-1.50 and plot1 > plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is  somewhat
\hboversold\he and ";
				String1=String1+" is rising.  Look for at least a modest advance
here. ";
			end
			else if plot1<=-1.5 and plot1 > plot1[1] 
			then begin
				String1=String1+"The \hbMcClellan Oscillator\he is  \hboversold\he
and is rising.  This ";
				String1=String1+" generally indicates a \hbbottom\he. ";
			end;
		end;
		commentary(String1);
	End;
#End;

If you need anything else let me know, best wishes,
John Bond




-- In realtraders@xxxxxxxxxxxxxxx, "Charles Meyer" <chaze@xxxx> wrote:
> Group-
> 
> Does anyone know where I might obtain the EL code for the McClellan
Oscillator and the McClellan Summation Index?
> Thank you for any feedback you can provide.
> 
> Chas



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