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The phrase "a more relevant indicator" is correct and usable in written English.
It can be used when comparing the significance or applicability of different indicators in a specific context.
Example: "In evaluating the success of the marketing campaign, we found that customer engagement metrics are a more relevant indicator than sales figures."
Alternatives: "a more applicable measure" or "a more significant metric".
Exact(9)
However, as wholesale prices sometimes differ the gross margin is a more relevant indicator.
The fact that it remains illegal is probably a more relevant indicator as to why it is singled out.
Our results show that, in a labor market characterized by high unemployment and duality, employment status is a more relevant indicator of migration incentives than home wages.
As originally proposed by Cohen in [24], the gain function itself is a more relevant indicator of speech signal intensity and is therefore more appropriate for use in the thresholding test than γ k,l).
However, a more relevant indicator of biological function is the distribution of endogenous protein.
Persistent hyperlactatemia is a more relevant indicator of poor outcome than an isolated elevated lactate value is.
Similar(51)
Although the company lost $3.1 billion in that period, operating cash flow, the more relevant indicator for a cable company, rose 9percentto to $624 million.
The more relevant indicator for assessing whether further house price gains are warranted is the share of mortgage debt to earned income, and that is still close to record highs".
38 40 – 43 Interestingly, the ApoB/ApoA ratio is viewed as possibly the more relevant indicator for inflammatory vascular disorders than other atherogenic indices, and this index worsened in a comparable proportion (∼10%) of patients in each treatment group in this study.
Hence, PM2.5 is frequently assumed to be a more relevant exposure indicator than are larger particles.
In contrast, the majority of GPs said that the report card for breast cancer was an exception, with more differentiating and also more relevant indicators as the indicator "% breast cancer operations where radical surgery is achieved during first surgery" was considered a rather meaningful measure, where confounding was unlikely.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com