A calculation of the amount of oxygen carrying hemoglobin inside your red blood cells (RBC). Since macrocytic RBCs are larger than either normal or microcytic RBCs, they would also tend to have higher MCH values.
A calculation of the percentage of hemoglobin in the RBCs. Decreased values point to Hypochromasia (decreased oxygen) - carrying capacity because decreased haemoglobin inside the cells. Hypochromasia is seen in iron deficiency anemia and in Thalassaemia.
A measurement of the average size of the red blood cells (RBC). The MCV is elevated when RBCs are larger than normal (macrocytic) for example in anemia caused by B12 and Folic acid deficiency. When MCV is decreased, the RBC is smaller than normal (microcytic) such as seen in iron deficiency anaemia. Very low level indicates chronic blood loss.