The R Gator Metatrader 5 Forex indicator is closely related to the Alligator indicator, but has a smaller signal lag.
The R Gator Metatrader 5 Forex indicator follows in the cue of the parent Alligator indicator, hence it is a combination of Moving Averages that deploy fractal geometry and nonlinear dynamics.
The indicator is represented by three lines that are colored differently on the activity chart;
- The Blue line or the Alligator’s Jaw which is by default a 13-period Smoothed Moving Average, moved 8 bars into the future.
- The Red line or the Alligator’s Teeth is the 8-period Smoothed Moving Average by default, which is moved 5 bars ahead.
- The Green line of the Alligator’s Lips is the 5-period Smoothed Moving Average by default, which is moved into the future by 3 bars.
The AUD/USD M15 chart below displays the R gator Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the blue line of the r_gator Metatrader 5 Forex indicator intersects the red and green lines of the indicator in a bottom up manner.
Sell Signal: Go short when the blue of the r_gator Metatrader 5 forex indicator intersects the red and green lines of the indicator in a top downward fashion.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the r_gator MT5 forex indicator lines intertwine.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the r_gator MT5 forex indicator lines intertwine.
Tips: The R gator Metatrader 5 forex indicator can be used on multiple time frames.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Fast MA period, Medium MA period, Slow MA period, Horizontal shift of the fast MA in bars, Horizontal shift of the medium MA in bars, Horizontal shift of the slow MA in bars), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | volatility
Copy and paste the r_gator.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)