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Forex Glossary

The Industry's Most Important Terms Explained

The forex industry is made up of countless definitions and it's easy to forget a few along the way. But because no forex education can be complete without a glossary of forex terms, we've compiled one which aims at explaining key definitions in the simplest way possible. This way, you'll never be lost or confused again!


McClellan Oscillator

A market breadth indicator.  It was developed by Sherman and Marian McClellan.  It is the difference of a 19-period EMA and a 39-period EMA of advancing minus declining issues in the New York Stock Exchange.

A reading above 100 implies extreme overbought conditions whereas a reading below -100 signals extreme oversold conditions.   A buy signal is triggered when the oscillator falls in the area between -70 and -100 and then turns up.  Similarly, a sell signal is generated when the oscillator rallies in the area between 70 and 100 and then turns down.

Category: Technical Indicators

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