#technical
#mainchart
#technical
#mainchart
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The Perfect Order Indicator automatically detects “Perfect Order” formations, where short-term, medium-term, and long-term moving averages align in a specific order, and displays arrow signals on the chart. By representing hard-to-spot Perfect Orders with arrow signals, this tool serves as a helpful reference for trend-following decisions.
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Usage scenarios
Trend-following strategies based on moving averages
With the Perfect Order arrow signals, a simple approach can be adopted: buy when an upward Perfect Order appears and sell when a downward Perfect Order is detected.
For managing stop-losses and take-profits on positions acquired using this method, you can base your decisions on the disappearance of the Perfect Order. Alternatively, combining it with volatility indicators like ATR or technical indicators like RSI can further refine your strategy.
Using for exit decisions on existing positions
For existing positions, exit decisions can be based on the disappearance of a Perfect Order or the appearance of a Perfect Order indicating the opposite trend from the entry. If quicker exit decisions are required, adjusting the period settings of moving averages, particularly the short-term one, to shorter durations can be a useful approach.
Reviewing the effectiveness of perfect orders in historical markets
The Perfect Order Indicator displays arrow signals on historical charts, allowing you to review when and where Perfect Orders were effective. By comparing past market movements with the timing of arrow signals, you can evaluate how well they align with your trading strategy and assess the associated risks more effectively.
By introducing the Perfect Order Indicator, trend-following approaches using multiple moving averages become much easier to understand. If you are a trend-following trader, this tool is highly recommended for your strategy.
How to install
To use the Perfect Order Indicator, follow the steps below to download and install it.
Step 1
Click the button below to download the indicator for MT4/MT5.
Step 2
Click File > Open Data Folder in the top menu of MT4/MT5.
Step 3
In the data folder, double-click the MQL4 or MQL5 folder.
Step 4
In the MQL4/MQL5 folder, double-click the Indicators folder.
Step 5
Save the Perfect Order Indicator in the Indicators folder.
Step 6
Go back to the MT4/MT5. Right-click Indicators in the Navigator, and click Refresh.
Step 7
In the Navigator, click the + icon next to Indicators. Find the Perfect Order Indicator, then either double-click it or drag it onto a chart.
Step 8
In the indicator settings window, customize the settings on the Inputs tab according to the How to set up page, then click OK.
Step 9
The Perfect Order Indicator is applied to the chart, displaying the three moving averages, as well as arrow signals if conditions are met.
How to set up
After applying the indicator to the chart, set the parameters according to your style.
Step 1
First, open the Inputs tab.
Step 2
Set the parameters as follows.
① Short-term MA
Set the calculation period for the short-term MA. The default is set to "8".
② Short-term MA color
Set the color for the short-term MA. The default is set to "HotPink".
③ Mid-term MA
Set the calculation period for the mid-term MA. The default is set to "50".
④ Mid-term MA color
Set the color for the mid-term MA. The default is set to "Gold".
⑤ Long-term MA
Set the calculation period for the long-term MA. The default is set to "200".
⑥ Long-term MA color
Set the color for the long-term MA. The default is set to "Turquoise".
⑦ MA type
Select the type of MA to display.
Simple: simple moving average
Exponential: exponential moving average
Smoothed: smoothed moving average
Linear Weighted: linear weighted moving average
⑧ Applied price
Select the price to use for MA calculation.
Close price
Open price
High price
Low price
Median price: (high price + low price) ÷2
Typical price: (high price + low price + close price) ÷3
Weighted price: (high price + low price + close price×2) ÷4
The periods for each moving average must follow the correct order of short, mid, and long. Incorrect settings, such as assigning a larger value to the short-term MA than the long-term MA, will result in an error when identifying the perfect order.
① Pop-up notification
Select ON or OFF to receive pop-up notifications.
② Email notification
Select ON or OFF to receive email notifications.
③ Push notification
Select ON or OFF to receive push notifications.
