McClellan Oscillator
A stock-market breadth indicator that measures whether most shares are joining a move or just a few big names.
The McClellan Oscillator looks under the bonnet of the stock market. Each day it takes the number of rising stocks minus falling stocks (the advance-decline figure), then compares a fast and a slow exponential average of it. Above zero, more stocks are pulling their weight; below zero, the crowd is drifting away.
Its point is to spot rallies that are hollow. If an index is climbing but the oscillator is sinking, only a handful of giants are doing the lifting, and that kind of rally can crack. Forex traders mostly meet it indirectly, through risk sentiment.
Keep this word for good
Your free Private Swap Lounge saves the terms you’ve learned and quizzes you on them. Portal under construction. Expected delivery date is December 01, 2026.