The R Gator Metatrader 4 Forex indicator is trend following and identical to the Metatrader 5 R Gator indicator version.
Read the full indicator description here.
The EUR/USD H1 chart below displays the R Gator forex indicator in action.
Basic Trading Signals
Signals from the R Gator forex MT4 indicator are easy to interpret and goes as follows:
Buy Signal: When the red line of the R gator is aligned both above the green line and blue line AND the green line is aligned above the blue line, this creates a buy signal.
Sell Signal: When the red line of the R gator is aligned both below the green line and blue line AND the green line is aligned below the blue line, this creates a buy signal.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (period, period_1, period_2, bars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the r-gator-indicator.mq4 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)