IYB,
MCO is just the difference between the 39 and the 19 ema of the cumulative A/D. If you want to plot that as an indicator, you need to have a charting service which can display intraday cumulative A/D line (in your case hourly charts). Just plot the difference between the 19 and the 39 ema with the signal line set to 1.
In other words MACD(19,39,1) on cumulative A/D is your MCO. But i am not sure that would give you a good indication of the hourly overbought / oversold. I just use price based indicators, which works pretty well for me.
I did precisely that on eSignal in the past, but it would not let me run MA's against this newly created "MCO clone".- MA crossings are an important component of the SS's. I'm looking for divergences followed by
reversal in internal momentum measures (and yes I use "momentum" in a much looser sense than a psyicist would) to produce an important trading signal, ahead of price-only signals, based on my observation and long held conviction that that internal measures of momentum {advance/declines, highs/lows, volume of advances vs. volume of declines as measured by TRIN, and others} lead price, or as I say, price follows momentum.
But it sounds like Trade Station may have just what I need. Good trading, D
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=11&dy=0&i=p20175862770&a=161831573&r=329.png