mc clellan oscillator - smoother
Info
The mc clellan oscillator - smoother is a Indicator for MetaTrader 5 that theory : in 1969, based on haurlan’s use of advance and decline data, sherman and marian mcclellan developed the mcclellan oscillator. this oscillator is the difference between two exponential moving averages of advances minus declines.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use mc clellan oscillator - smoother
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
theory : in 1969, based on haurlan’s use of advance and decline data, sherman and marian mcclellan developed the mcclellan oscillator.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: long-term trend trix oscillator for metatrader 5 - another powerful indicator for MetaTrader 5 traders.
theory : in 1969, based on haurlan’s use of advance and decline data, sherman and marian mcclellan developed the mcclellan oscillator. this oscillator is the difference between two exponential moving averages of advances minus declines. the two averages are an exponential equivalent to a 19-day and 39-day moving average.
Also recommended: stochastic oscillator indicator for metatrader 5 - similar indicator with strong performance on MetaTrader 5.
the rationale for this oscillator is that in intermediate-term overbought and oversold periods, shorter moving averages tend to rise faster than longer-term moving averages. however, if the investor waits for the moving average to reverse direction, a large portion of the price move has already taken place. a ratio of two moving averages is much more sensitive than a single average and will often reverse direction coincident to, or before, the reverse in prices, especially when the ratio has reached an extreme.this version deviates from the original in a couple of things :
it is using the "smoother" for calculations, instead of using exponential averages (it produces much smoother results than the ema)
it is adding "periods multiplier" for the simplicity of use. since the "smoother" is much faster than the ema, instead of having to change both fast and slow period to longer period to have more readable (less scalping like) values, simply change the multiplier to desired (can be fractional) value, and that is all
usage :
You may also like: channel and stochastic oscillator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.