When miniaturizing an ammeter or wattmeter, a magnetoresistance effect element given a barber-pole electrode could be considered an efficient device. It was considered that a barber-pole electrode formed at 45° with respect to an axis of easy magnetization (the longitudinal direction of a rectangular-shaped element) would be the most efficient. Current is refracted, however, when the current passes through the boundaries of substances with different conductivity, so a barber-pole electrode formed at 45° is not the most efficient. According to the invention, it is possible to provide a highly efficient magnetoresistance element having a rectangular magnetic film whereupon an axis of easy magnification is induced in the longitudinal direction, and a barber-pole electrode which is formed upon the magnetic film at an oblique angle θ to the longitudinal direction, where the magnetoresistance element takes into account current refraction at the boundary between the electrode and the magnetic film.