Forex alligator strategy
Its core function is to identify trend changes by deploying the behavior of each of the three features of the indicator. The Alligator has a lot of characteristics. The Alligator gets famished by the minute, and wakes out of its slumber upon seeing price breakout.
The Alligator indicator or how to catch profit by means of the Predator
The Alligator closes its mouth again when trade volume decreases or when the market is without noise. The histogram data calculates Elliot Waves 3, 4, and 5 and plots the count on the histogram window and the activity chart. Watch out for the LimeGreen colored histograms that are developing above the 0. When a yellow histogram forms above the 0.
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Sell Entry Rules: Take seriously the following indicator patterns and initiate short position s when present on chart: Take note of the Red Alligator line as it crosses the blue Alligator line downward and the subsequent bearish candle that opens and closes below the Gator lips i. Conversely, when the lines diverge and go in one direction up or downwards , this forecasts a possible beginning of a new trend. It helps to define the current trend and find the places of possible reversals on the chart.
Indicator Alligator calculation technique
The indicator looks like a bar histogram under the price chart. If the market is growing, the bars also grow and turn green, and when the market is falling, the bars follow suit and turn red. The Fractals indicator shows the local highs and lows reached by the market on the chart. The extremes are highlighted by special directed marks. Fractals demonstrate the borders of local price ranges in many strategies, including the Alligator.
To start trading by the Alligator, the market must be sleeping, i.
Trading With Alligator — A Trend-Craving Carnivore
The Awesome Oscillator must be near 0. The entry signal will appear when the Alligator lines and the Oscillator will start moving in one direction; it will be confirmed by a breakaway of the nearest fractal on the chart.
To start looking for trading signals, install all the three indicators of the strategy on the price chart of your financial instrument. You may either use the default settings or play with them and find those that suit your trading style.
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A signal to buy appears when a sleeping period changes for an upward movement. To enter the market, make sure that the following conditions are complied with As the entry point, take the level of the nearest fractal, lying above the Alligator lines. The price escapes the local range upwards. Initially, place the Stop Loss behind the level of the nearest opposite fractal, lying below the Alligator lines. Later on, when the price is growing confidently, bring the SL to the breakeven.
The main landmark for taking the profit is the red line of the Alligator. When the candlestick closes under the red line, close your profitable position. At a sharp ascending impulse, you may take the profit before you lose on a correction - close the position as soon as a red bar on the Oscillator histogram appears. A signal to sell appears when a sleeping period changes for a downward movement. To enter the market, make sure that the following conditions are complied with:. The Alligator trading strategy is a simplified version of a complex and many-sided strategy "Profitunity" by Bill Williams.
To make the signals more reliable, try to combine the strategy with the classical tech analysis: support and resistance levels, price patterns. For a better understanding of Williams's method, I recommend the full version of the strategy by the book "Trading Chaos".
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