Patrik
While I am not aware of a MER indicator, I do know that MER (the stock) is sometimes used as a component of indicators. For example there is an indicator called High 5 that uses a combination of various indices (COMPQ, VIX, TRIN, TICK) and MER to signal market direction.
Martin Pring himself, in a writing of his at eSignalCentral Learning Center, proposes a combination analysis of S&P index and MER.
Alex
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