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Alligator Indicator
Alligator Indicator
Alligator indicator consists of 3 Moving averages:
Alligator’s jaws (blue line) – 13-period Simple Moving Average built from (High+Low)/2, moved into the future by 8 bars;
Alligator’s teeth (red line) - 8-period Simple Moving Average built from (High+Low)/2, moved by 5 bars into the future;
Alligator’s lips (green line) - 5-period Simple Moving Average built from (High+Low)/2, moved by 3 bars into the future.
How to trade with Alligator Indicator
Alligator indicator helps to determine the presence and absence of a trend as well as its direction.
For an uptrend to be true and valid 3 lines (Jaws, Teeth and Lips) of Alligator indicator must be laid out appropriate way: Jaws at the bottom (blue), then teeth (red), then lips (green) on top.
Opposite for downtrend: jaws on top (blue), teeth (red), then lips below (green).
Elliott wave traders can use Alligator as a helping indicator to identify impulsive and corrective waves: when price trades outside Alligator’s mouth, the impulsive wave is forming, when price trades inside Alligator’s mouth, the corrective Elliott wave is forming.
//+------------------------------------------------------------------+ //| Alligator.mq4 | //| Copyright © 2004, MetaQuotes Software Corp. | //| http://www.metaquotes.net/ | //+------------------------------------------------------------------+ #property copyright "Copyright © 2004, MetaQuotes Software Corp." #property link "http://www.metaquotes.net/" #property indicator_chart_window #property indicator_buffers 3 #property indicator_color1 Blue #property indicator_color2 Red #property indicator_color3 Lime //---- input parameters extern int JawsPeriod=13; extern int JawsShift=8; extern int TeethPeriod=8; extern int TeethShift=5; extern int LipsPeriod=5; extern int LipsShift=3; //---- indicator buffers double ExtBlueBuffer[]; double ExtRedBuffer[]; double ExtLimeBuffer[]; //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int init() { //---- line shifts when drawing SetIndexShift(0,JawsShift); SetIndexShift(1,TeethShift); SetIndexShift(2,LipsShift); //---- first positions skipped when drawing SetIndexDrawBegin(0,JawsPeriod-1); SetIndexDrawBegin(1,TeethPeriod-1); SetIndexDrawBegin(2,LipsPeriod-1); //---- 3 indicator buffers mapping SetIndexBuffer(0,ExtBlueBuffer); SetIndexBuffer(1,ExtRedBuffer); SetIndexBuffer(2,ExtLimeBuffer); //---- drawing settings SetIndexStyle(0,DRAW_LINE); SetIndexStyle(1,DRAW_LINE); SetIndexStyle(2,DRAW_LINE); //---- index labels SetIndexLabel(0,"Gator Jaws"); SetIndexLabel(1,"Gator Teeth"); SetIndexLabel(2,"Gator Lips"); //---- initialization done return(0); } //+------------------------------------------------------------------+ //| Bill Williams' Alligator | //+------------------------------------------------------------------+ int start() { int limit; int counted_bars=IndicatorCounted(); //---- check for possible errors if(counted_bars<0) return(-1); //---- last counted bar will be recounted if(counted_bars>0) counted_bars--; limit=Bars-counted_bars; //---- main loop for(int i=0; i<limit; i++) { //---- ma_shift set to 0 because SetIndexShift called abowe ExtBlueBuffer[i]=iMA(NULL,0,JawsPeriod,0,MODE_SMMA,PRICE_MEDIAN,i); ExtRedBuffer[i]=iMA(NULL,0,TeethPeriod,0,MODE_SMMA,PRICE_MEDIAN,i); ExtLimeBuffer[i]=iMA(NULL,0,LipsPeriod,0,MODE_SMMA,PRICE_MEDIAN,i); } //---- done return(0); } //+------------------------------------------------------------------+
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