McClellan Summation Index values change

[shaeffer]

The attached chart shows a plot of the McClellan Summation Index, using the McClellanOsc2.efs. The values on the Feb 9 high and June 5 low are noted , as shown in the Y-axis (after scrolling back) for the last three days. The values change overnight. Why is that, and can that be fixed?

Thanks
Shaeffer

[shaeffer]

McClellanOsc2.efs Summation Index does not seem to be anchored??

I use McClellanOsc2.efs to plot the McClellan Summation Index. The correct curve shape appears, but every day the previous days values change. As an example, I noted the Feb 9 High and June 5 Low values on the chart (attached) every day since July 11. Every day those values change. I am sure that is not right. Can this efs be corrected so previous day values do not float?

Thank you
Shaeffer

[shaeffer]

Is there a reason I am getting no response to my EFS question?

Hello,

Is there a reason I am not getting a response to my efs question?

The question regards the efs McClellanOsc2.efs, created by eSignal many years ago. I beleive there is a problem with this efs, and posted my question to the EFS Library Discussion Board on July 13. This forum did not seem very active, so after six days with no response, I reposted my question (with updated data) in the EFS Studies Forum, where it quickly got moved to the EFS Library Forum with my original question. That was two weeks ago, and still no answer.

Maybe you guys are busy, but three weeks seems a long time ... I can't help wondering if this question doesn't meet the posting guidelines in some way? But I am not asking for someone to create a new efs for me, rather just confirm whether this efs should have floating values (I think not). Then if there is an error, I would hope eSignal would fix this efs, since it was created by eSignal.

Thanks
Shaeffer

[ACM]

shaeffer
As far as I can see that is not an error but simply the result of the summation that is set to start on the first [ie oldest] bar on the chart and when that changes so will its values.
That said I think you are misunderstanding the scope of the indicator which is to provide a profile rather than specific values since these would be arbitrary regardless if they were based on a floating or fixed starting point
Alex

Hello,

Is there a reason I am not getting a response to my efs question?

The question regards the efs McClellanOsc2.efs, created by eSignal many years ago. I beleive there is a problem with this efs, and posted my question to the EFS Library Discussion Board on July 13. This forum did not seem very active, so after six days with no response, I reposted my question (with updated data) in the EFS Studies Forum, where it quickly got moved to the EFS Library Forum with my original question. That was two weeks ago, and still no answer.

Maybe you guys are busy, but three weeks seems a long time ... I can't help wondering if this question doesn't meet the posting guidelines in some way? But I am not asking for someone to create a new efs for me, rather just confirm whether this efs should have floating values (I think not). Then if there is an error, I would hope eSignal would fix this efs, since it was created by eSignal.

Thanks
Shaeffer

[shaeffer]

Thanks for the reply, Alex

I understand how the fixed number of days in the Summation Index calculation will result in a new oldest bar start value every day, and therefore change all subsequent values every day. So yes, in that respect there is no error in the efs. And agreed, the profile (curve shape) has more meaning than the specific values.

However, every other source I view (Decision Point, StockCharts, Telechart, and the McClellan website itself) have 'anchored' the Summation Index plot so there is a fixed zero line that remains unchanged over time relative to the plot. And with the zero line in place, overbought/oversold areas can then be defined.

So though technically there is no error in the current efs, I beleive its lack of a fixed, consistent zero line is a shortcoming relative to plots provided by other chart providers. I know that fixing a start point would result in arbitrary values, but once that start point (and therefore subsequent values) were fixed, users could then tweak the efs to create a zero or neutral line per their preference.

Is there a way to fix the start point for the Summation Index calc?

Thanks
Shaeffer

[shaeffer]

Is there a way to fix the start point for the Summation Index calc?

Still hoping for an answer.