The Correct Order (Version 1.0.01)
Info
The The Correct Order (Version 1.0.01) is a Expert Advisor for MetaTrader 4 that the correct order is a trading strategy based on the sequential arrangement of moving averages. In an uptrend, the correct order is established when the 10-period Simple Moving Average (SMA) is above the 20-period SMA, which is above the 50-period SMA, and this pattern continues for the 100- and 200-period SMAs.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use The Correct Order (Version 1.0.01)
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
The Correct Order is a trading strategy based on the sequential arrangement of moving averages.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: E-Close by Time: Automated Position and Order Management - another powerful expert for MetaTrader 4 traders.
The Correct Order is a trading strategy based on the sequential arrangement of moving averages.Also recommended: exaccount: visualize order activity on chart - similar expert with strong performance on MetaTrader 4.
In an uptrend, the correct order is established when the 10-period Simple Moving Average (SMA) is above the 20-period SMA, which is above the 50-period SMA, and this pattern continues for the 100- and 200-period SMAs.
Conversely, in a downtrend, the opposite arrangement is considered the correct order.
This strategy relies on the principle that when moving averages are arranged in the correct order, it indicates a strong trend with momentum. Additionally, these moving averages can act as support levels.
To enhance the strategy's reliability, an ADX check is included, requiring the ADX to be greater than 20 and exhibit an increasing trend.
Entry: After 5 candles confirm the correct order.
Exit: When the correct order is violated.
Testing Results:
- Strategy Tester Report
- truesort_0002
- sig-demo.com (Build 220)
You may also like: e skoch order sell and buy - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern double lots = 0.1;
extern int stloss = 100;
extern int magicnum = 5000;
double level_10, level_10_old;
double ma_10[4], ma_20[4], ma_50[4], ma_100[4], ma_200[4];
double ma_10c, ma_20c, ma_50c, ma_100c, ma_200c;
int my_order;
int w_m = 0;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.