McClellan set INDEX

McClellan set INDEX
The McClellan sum index is market breadth indicator developed by Sherman and Marian McClellan. It's a long version of the McClellan Oscillator and its interpretation is similar to that of the McClellan Oscillator except that it is more appropriate for large twists trend.
For wider coverage of the index refer to the book Patterns for Profit by Sherman and Marian McClellan.
McClellan suggests the following rules for use by collecting Index:
• Look for major bottoms when the set index falls below -1300.
• Look for major tops to occur when a divergence occurs in the market index over a set level of 1,600.
• At the beginning of a significant bull market is indicated when the index set crosses over 1900 moving in an upward more than 3,600 points from its previous low (for example, the index ranges from -1600 to 2000).
Collection index is plotted by adding the function of Cum McCllellan oscillator. The formula is Cum (Mov (C, 19, E) - Mov (C, 39, E)).