How to Set McClellan on MetaTrader 4 Charts

Step 1: Open the Navigator Panel on Trading Platform

Open Navigator panel like is shown & illustrated below: Go to the 'View' menu (click on it), then select 'Navigator' panel window (click), or From Standard ToolBar click 'Navigator' button or press key board short cut keys 'Ctrl+N'

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

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

How Do You Add McClellan in the MT4 Software - MT4 McClellan Indicator

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

Expand this menu by pressing the protract(+) tool/button emblem mark ( + ) or doubleclick the 'indicators' menu, after that this particular specified button will appear and be shown as (-) & will now display a list like 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 on the Chart? - How to Use McClellan Technical Indicator

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

How to Set Custom McClellan to MT4

If the indicator you want to add is a custom technical 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 MetaTrader 4 software and then compile the custom McClellan Oscillator indicator so that as the newly added McClellan Oscillator custom indicator pops up on the list of custom technical indicators in MetaTrader 4 software.

To learn how to install McClellan Oscillator indicators on MT4 Platform, how to add McClellan Oscillator indicator panel to MT4 and how to add McClellan Oscillator custom indicator on MetaTrader 4 - How to add a custom McClellan Oscillator indicator in the MT4.

About McClellan Oscillator Technical Indicator Example Explained

McClellan Oscillator Analysis and 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 & bearish candlesticks. This trading indicator looks very similar to the traditional MACD technical indicator.

How Do I Use McClellan Indicator? - How to Set McClellan Oscillator in MetaTrader 4 Charts

McClellan Oscillator Indicator

Technical Analysis and How to Generate Signals

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

Zero Center-Line Crossover Signals:

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

Bearish Signals- When the oscillator technical indicator crosses below zero center line a sell trading signal is given/generated.

How to Use McClellan - How to Set McClellan Oscillator in MetaTrader 4 Charts

Technical Analysis in Forex Trading

FX Divergence Signals:

Looking for divergences between the McClellan Oscillator & price can prove to be very effective in spotting the potential reversal and/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 & higher lows on the McClellan Oscillator.

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

Hidden Divergence Setup

Bullish Divergence: Higher lows in price action and lower lows on the McClellan Oscillator.

Bearish Divergence: Lower highs in price action & higher highs on the McClellan Oscillator Indicator.

Over-bought/Oversold Levels in Indicator

The McClellan Oscillator is also used to identify the potential overbought and over-sold levels in price action movements. The overbought & oversold conditions are derived & 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 crossover signals to generate trade signals.

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