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 Investor/RT Tour ( more on Technical Indicators )
Oscillator/Summation
The Formula . . . 

. . .more on Formulas 
OSC = MA(1st Period) - MA2(2nd Period)
SUMMATION = SUM(OSC)
 
The Presentation . . . 

. . . more on Charts 

Oscillator/Summation

Above is a 5 Minute Candlestick Chart of Real Networks (RNWK).  The yellow line in the upper pane represents the oscillator, based on the preferences below.  The line overlays the candlestick chart.  In the lower pane is a blue line representing a summation with the preferences below.
 
The Preferences . . . 

. . . more on Preferences 

Oscillator/Summation Preferences

  • Oscillator/Summation - Choice of either an Oscillator, or a Summation.

  • Price - The price to be used in computing the two moving averages

  • MA Type - The type of moving averages to be used.

  • 1st Period - Period of the first moving average.

  • 2nd Period - Period of the second moving average.

  • Oscillator Color - Color of the oscillator in the chart.

  • Summation Color - Color of the Summation in the chart.

  • McClellan - This resets the indicator values to use the McClellan Oscillator recommended defaults.
 
The Description . . .
The McClellan Oscillator and Summation Indexes were developed by Sherman and Marian McClellan in 1969.  They were developed to gain an advantage in selecting entry and exit times in the stock market.

The McClellan Oscillator offers many types of structures for interpretation, but there are two main ones. First, when the Oscillator is positive, it generally portrays money coming into the market; conversely, when it is negative, it reflects money leaving the market. Second, when the Oscillator reaches extreme readings, it can reflect an overbought or oversold condition.