McClellan Summation Index

See: McClellan Oscillator.

The McClellan Summation Index is very similar to the McClellan Oscillator, except for a much longer time horizon. Both the oscillator and the summation index are used to forecast and confirm bullish and bearish trends in a particular index or for a group of stocks.

The McClellan Summation Index takes the daily values from the McClellan Oscillator and adds them together. The top and bottom “lines” determine when an index is bullish or bearish, but this changes over time as the stock market grows.