McClellan Oscillator is a forex technical indicator used in technical analysis. McClellan Oscillator Indicator was developed by Sherman and Marian McClellan. McClellan oscillator is a breadth indicator and is based on the advancing and declining issues.

Breadth is defined as the balance between advancing issues (all stocks up at least a penny on the day) and declining issues (all stocks down by at least a penny). In a strong market, advancers will usually overwhelm decliners by a significant margin. The opposite is true when a market turns weak.

The McClellan Oscillator can be extremely effective when trading bullish and bearish reversal patterns. The indicator reveals oversold and overbought conditions similar to other oscillators such as Stochastics. These overbought and oversold indicators are not incorporated in the Market Situation scoring system for the sake of simplicity.

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Mass Index (MI) is a forex technical indicator used in technical analysis. Mass Index (MI) Indicator was developed by Donald Dorsey. This indicator is designed to identify changes in direction (reversal) trends by measuring how big the difference between the highest and lowest prices. If the difference is enlarged, the Mass Index will rise. Conversely, if the difference is smaller, then the Mass Index will decline.

To calculate mass index, use the following ways:
1. Calculate the exponential moving average of 9 days difference between the highest and lowest prices.
2. Calculate the exponential moving average 9 days from the results of step 1.
3. The result of step 1 divided by the result of step 2.
4. Total the results of step 3 for 25 periods (eg 25 days).

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