I am not sure the ADL indicator is much use for a Forex pair. By measuring this line against the SP500 will give that "extra vision" of filtering the index influencing stocks to get a deeper view. I am not a practitioner of this indicator but the power is the divergence between a rising index and a falling line suggesting that heavy index weighted stocks are giving a misleading view since index is a very generic measure of strength or weakness in the equity markets.
I'll play with trading view.com since I have not found a charting package offering this indicator cheaply.
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I am not sure the ADL indicator is much use for a Forex pair. By...
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