Our custom developed Forex Alligator Setting Lines Indicator. Trend-following Alligator indicator follows the premise that financial markets and individual securities trend just 15% to 30% of the time while grinding through sideways ranges the other 70% to 85% of the time.
The Alligator indicator uses three smoothed moving averages, set at five, eight and 13 periods, which are all Fibonacci numbers. The initial smoothed average is calculated with a simple moving average (SMA), adding additional smoothed averages that slow down indicator turns.
How the indicator is calculated is important for understanding the inner workings of the indicator. Luckily, calculation is not required in practice. Add the Alligator indicator to your charts from the indicator list in your charting or mt4 trading platform.
Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy.
The EUR/GBP 15 minute chart below displays the Forex Alligator Setting Lines Indicator in action.
Copy and paste the Forex Alligator Setting Lines Indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove Indicator from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete