Introduced in Wilders Book New Concept In TTS
ADXR stands for Average Directional Movement Index Rating, and is a component of the Directional Movement System developed by Welles Wilder. This system attempts to measure the strength of price movement in positive and negative directions, as well as the overall strength of the trend.
ADXR = ( ADX(today) + ADX(n days ago) ) / 2
The indicator was revised and updated