McClellan Summation Index

The McClellan Summation Index is this formula on the $ADD chart.

Formula:

Summation Index = 1000 + (10%Trend – 5%Trend) – ((10 x 10%Trend) + (20 x 5%Trend))

where:
5%Trend
= 39-day EMA of (Advancers-Decliners)
10%Trend = 19-day EMA of (Advancers-Decliners)

The symbol for the Advancers-Decliners is delayed but is available through IB as $ADD.  

The formula is implemented with this DYO, and available on the Ensign web site using the Ensign 10 Package feature to download it.

A – Create the 39 period average.
B – Create the 19 period average.
C – Calculate the first half of the formula:   1000 + (10%Trend – 5%Trend)
D – Calculate the 2nd half of the formula:  10 * 10%Trend + 20 * 5%Trend
E – Subtract the two halves.  Plot this result which is the Summation Index.