Introduction to the ADMIR Indicator
The ADMIR indicator is a forex oscillator, that name means Average Directional Movement Index Rating. It reveals the ratio of the ADX lines of two indicators, Average Directional Movement Index along with the calculation periods conflicting by the listed value.
The indicator is displayed in a separate window placed just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences. Let’s take a closer look at these inputs below.
ADX Period – defines the period for the first ADX
Difference – defines the difference between the period’s calculation of the first and that of the second ADX
Applied price – represents price used for calculations
The formula for the Average Directional Movement Index Rating indicator:
The calculations of the Average Directional Movement Index Rating indicator are based on the following formula:
ADMIR = (ADX1 + ADX2) / 2
ADX1 – Average Directional Movement Index Period
ADX2 – Average Directional Movement Index Period + Difference
How to use the Average Directional Movement Index Rating:
The price is considered to be bullish when the line of the ADM Index Rating indicator goes up from a sustained low. Similarly, the price is considered to be bearish when the line of the ADM Index Rating goes down from a sustained high.
We do not recommend using that gauge as a standalone trading tool. Rather use it in conjunction with some other technical analysis forex indicators.
How to set up the ADMIR indicator in MT5?
Copy and paste the ADMIR.mq5 or ADMIR.ex5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The ADMIR indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
ADMIR Indicator Free Download
To download the ADMIR Indicator for Metatrader 5 (MT5) for free just click the button below: