The Advance/Decline Line is the most popular advance/decline indicator. It is a
cumulative total of the Advancing-Declining Issues indicator. The Advance/Decline
Line of a market (such as the NYSE or NASDAQ) moves with the price of the market
index. Look for agreement/divergence to confirm/deny price trends.
If you have a stock trading in the general direction of the market, this can give
you the very short term probable direction to take. It is charted on a daily chart
but is so short term in nature that would be best traded upon only intra day.