Introduction To r_Gator Indicator For MT4
r_Gator Indicator For MT4 is a technical forex indicator which is closely related to the famous Alligator indicator. The only difference between both of these indicators is that the r_Gator Indicator For MT4 identifies the buy/sell signals much earlier than the Alligator indicator. This indicator also follows the cue of the Alligator indicator; also, it is a combination of Moving Average that deploys fractal geometry and non-linear dynamics. This indicator works very well in all the timeframes as well as in all the market conditions.
This indicator is designed to describe market behavior. The alligator is said to be sleeping when the market is in the consolidation phase. The longer the market consolidates, it implies the longer the alligator has slept. This also means that the alligator is hungrier now. In simple words, we can expect stronger moves right after the ranging market.
Trading Strategy Using r_Gator Indicator For MT4
Buy Signal - Take the buy trade when all the lines of the r_Gator Indicator For MT4 go below the price action, and when the Blue line intersects the Red and Green lines.
Exit Buy Trade - Close your Buy position when the indicator lines intertwine.
The r_Gator Indicator For MT4 works very well in all the market conditions, and it helps the traders to stay in their positions for an extended period. As you can see in the below image, in an uptrend, r_Gator Indicator For MT4 gave us three trading signals. If the trend is strong enough, you can choose to hold and wait for the next pullback in order to scale your buying positions. In a choppy trend or a volatile market, do not hold your positions for an extended period.
In the above image of the GBP/CAD buying trend was strong enough. This means that we can hold our buying positions, and when the brand new pullback comes, we can even scale our position, and this is what we have done here. When all the lines are intertwined, it means that there is no trend in the market at all. One more reason could be the volatility being very low. If you are a conservative trader, try to exit your half positions when all the lines are intertwined and scale your positions when the indicator gives a buy signal.
Sell Signal - Take the sell trade when all the lines of the r_Gator Indicator For MT4 go above the price action, and when the blue line intersects the red and green lines.
Exit Sell Trade – Close your sell position when all the lines of the indicator intertwine.
In the below image of GBP/CAD, the market was in a strong downtrend. This means we only need to look for sell trades. You can see that in a downtrend, the r_Gator Indicator For MT4 gave us three sell signals. You can even scale each of your selling positions to make more profits.
Another thing that should be noticed in the below chart is that the indicator lines hold near the price chart at specific points. This is something we called dynamic support and resistance levels. It's a general perception that the support and resistance levels can only be horizontal, but that's not true. r_Gator Indicator For MT4 gives us reliable trading signals while also providing strong support and resistance levels. Bigger the timeframe, stronger the levels are, and it takes more energy for the price action to break these levels.
r_Gator Indicator For MT4 is kind of similar to Bill William's famous Alligator indicator. Even though this indicator shows a bit lesser lag on the lower timeframe, on higher timeframes, the lag is more. You can use the default settings if you are a novice trader, but you can change them according to your trading style once you gain some experience. This indicator alone works very well in most of the market conditions, so there is no need to pair it with other technical indicators. We hope you find this article informative. Happy Trading!