How to Add McClellan Indicator on MT4 Charts

Step 1: Open the Navigator Panel on Trading Platform

Open Navigator panel as shown and illustrated below: Go to 'View' menu (click on it), then choose 'Navigator' window panel (click), or From Standard Tool-Bar click 'Navigator' button or press key-board short cut keys 'Ctrl+N'

On Navigator window, choose 'Indicators', (Double Click)

How Do I Add McClellan Indicator in MetaTrader 4? - How to Use McClellan Technical Indicator

How Do You Add McClellan Indicator on MT4 - MT4 McClellan Indicator

Step 2: Expand the Indicators Menu on the Navigator - Adding McClellan Oscillator MT4

Expand the menu by pressing the expand(+) button marker (+) or doubleclick the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the McClellan Oscillator chart indicator from this list of indicators so that to add the McClellan Oscillator indicator to the chart.

How Do I Add McClellan Indicator on the Chart? - How to Use McClellan Technical Indicator

How Do I Add McClellan Indicator - From the Above window you can then place McClellan Oscillator indicator that you want on the chart

How to Add Custom McClellan Indicator to MT4

If the indicator you as a trader want to add is a custom indicator - for example if the McClellan Oscillator technical indicator you want to add is a custom indicator you will need to first add this custom McClellan Oscillator indicator on the MT4 platform & then compile custom McClellan Oscillator indicator so that the newly added McClellan Oscillator custom indicator pops up on the list of custom indicators in MT4 platform.

To learn how to install McClellan Oscillator indicators on MT4, how to add McClellan Oscillator indicator panel to MT4 and how to add McClellan Oscillator custom indicator in MT4 - How to add a custom McClellan Oscillator indicator in MT4.

About McClellan Oscillator Technical Indicator Explained

McClellan Oscillator Analysis & McClellan Oscillator Technical Signals

Developed by McClellan.

The McClellan Oscillator is an indicator that is based on smoothing the difference between the number of bullish candlesticks and bearish candlesticks. This trading indicator looks similar to the traditional MACD.

How Do I Use McClellan Indicator? - How to Add McClellan Oscillator in MT4 Charts

McClellan Oscillator Trading Indicator

Technical Analysis & How to Generate Signals

This Oscillator is a momentum indicator that can be traded in the same way as the MACD. There are 3 techniques that McClellan Oscillator Technical can be used to generate signals.

Zero Center Line Crossover Signals:

Bullish Signals- When the oscillator technical indicator crosses above zero centerline a buy signal is given.

Bearish Signals- When the oscillator technical indicator crosses below zero centerline a sell signal is given.

How to Use McClellan Indicator - How to Add McClellan Oscillator in MetaTrader 4 Charts

Technical Analysis in FX Trading

Forex Divergence Trading Signals:

Looking for divergences between the McClellan Oscillator and price can prove to be very effective in spotting the potential reversal &/or trend continuation points in price movement.

There are several types of divergences:

Classic Divergence ( Regular Trade Divergence )

Bullish Divergence: Lower lows in price action and higher lows in the McClellan Oscillator Trading Indicator.

Bearish Divergence: Higher highs in price & lower highs in the McClellan Oscillator Trading Indicator.

Hidden Divergence Trading Setup

Bullish Divergence: Higher lows in price action & lower lows in McClellan Oscillator Trading Indicator.

Bearish Divergence: Lower highs in price action and higher highs in McClellan Oscillator Trading Indicator.

Over-bought/Oversold Levels on Technical Indicator

The McClellan Oscillator is also used to identify potential overbought & oversold levels in price action movements. The overbought and over-sold conditions are generated when the oscillator trading moves to extreme levels on one side & starts to turn, however, in a strong trending market the oscillator will stay in the overbought and oversold levels for a long time. It is not recommended to trade overbought & oversold levels to generate trade signals. Best signal to use is the Center-Line cross-over signals to generate trade signals.

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