OPEN-SOURCE SCRIPT
McClellan Summation Index - Miekka Formula
This indicator is the McClellan Summation Index calculated as by Jim Miekka. Jim was a renowned mathematician who contributed immensely to the trading world by tying to develop independent mathematical indicators.
It was Jim Miekka who established the independent relationship to calculate the Summation index without calculating the cumulative of the McClellan Oscillator.
On top of the Summation Index I have added a 10 EMA to easily identify a change in trend.
I would recommend a user to read more about the Summation index and its utilities before using this indicator.
It was Jim Miekka who established the independent relationship to calculate the Summation index without calculating the cumulative of the McClellan Oscillator.
On top of the Summation Index I have added a 10 EMA to easily identify a change in trend.
I would recommend a user to read more about the Summation index and its utilities before using this indicator.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.