Forex encyclopedia

McClellan Oscillator is an indicator of technical analysis characterizing market dispersion (its width) by analyzing the number of growing and declining instruments in the period. One of the most popular indicators of that type. McClellan Summation Index is formed on the basis of McClellan Oscillator and this index is a separate market technical indicator. Sherman and Marian McClellan designed an oscillator and Summation Index of McClellan in 1969. In their book “ Patterns for Profit” authors described principles of interpretation of those indicators.

Current account balance of the state represents the difference between the amount of payments transferred abroad and amounts of payments coming from abroad. If external payments exceeds payments sent to other states and international organizations, then current balance is called active (surplus takes place), in the opposite case it is stated that negative balance emerged (credit balance). Value of current account is published quarterly, in the middle of the month around 10:00 a.m EST (New York). Market respond to published value is minor. Active balance is a positive factor for national currency.