The Average Directional Movement Index Rating Metatrader 5 custom indicator, also known as the ADMIR is an oscillator that reveals the ratio of the ADX lines of two indicator Average Directional Movement Index along with the calculation periods conflicting by the listed value.
The indicator pops up within its window as a lime green (default color) line.
The Average Directional Movement Index MT5 indicator has three input parameters:
ADX Period – This input variable calculates the period for the first ADX;
Difference – This variable defines the difference between the period’s calculation of the first and that of the second ADX;
Applied price – This variable represents price used for calculations.
The formula for the Average Directional Movement Index Rating:
ADMIR = (ADX1 + ADX2) / 2
ADX1 – Average Directional Movement Index Period
ADX2 – Average Directional Movement Index Period + Difference
Price is said to be bullish if the line of the ADM Index Rating MT5 indicator surges from a sustained low, while a bearish condition is said to be triggered if the line of the ADM Index Rating custom Metatrader 5 indicator dips lower from a sustained high.
The ADM Index Rating will not do well as a standalone indicator, instead a mix with other relevant technical indicators is needed for a consistent trading strategy.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (ADX Period, Difference, Applied price), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ADMIR.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)