Define: McClellan Summation Index

UK Accounting Glossary

Definition: McClellan Summation Index


Full Definition of McClellan Summation Index

The McClellan Summation Index is a long-term version of the McClellan Oscillator, an NYSE market breadth indicator.

The McClellan Summation Index is more suited to major trends.

McClellan Summation Index Calculation

The McClellan Summation Index is the ongoing sum of the daily McClellan Oscillator. The two parameters for the oscillator are the slow and fast Exponential Moving Average periods which are used to compute the McClellan Oscillator values.

McClellan Oscillator = EMA (#Advancing – #Declining),19) – EMA (#Advancing issues – #Declining),39)


  • EMA is the Exponential Moving Average
  • #Advancing is the number of daily advancing issues
  • #Declining is the number of declining issues

Application of McClellan Summation Index

The McClellan Summation Index is a market breadth indicator which indicates a bull market beginning at the trough (minimum point) of the index and ending at the index peak. A bear market is indicated from the peak to the trough of the index.


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McClellan Summation Index. Payroll & Accounting Heaven Ltd. March 31, 2020
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McClellan Summation Index. Payroll & Accounting Heaven Ltd. (accessed: March 31, 2020).
American Psychological Association (APA):
McClellan Summation Index. Retrieved March 31, 2020, from website:

Definition Sources

Definitions for McClellan Summation Index are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd March 2020.