What is Alligator EA Forex
Alligator EA Forex is an EA that transforms the Alligator indicator into an automated trading system. It enters orders in the traditional way but modifies the exit strategy using Stop Loss (SL) and Take Profit (TP)
Backtest results
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Table of Backtest System Setup |
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Item |
Details | Item |
Details |
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Model Quality |
Tick data (99.90%) |
Leverage |
1:500 |
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Spread |
Variable |
Optimize Slippage | Use |
| Market delay | 30-40 ms | Pending delay |
30-40 ms |
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Maximum successful backtest period is 3 years |
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Interesting Parameters |
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Parameters |
Variable value |
Interpretation |
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Profit factor |
2.05 | Medium | |
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Profit/year |
570% |
Medium |
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Max %DD |
55.14% |
High |
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| Relative %DD | 74.80% |
Very high |
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Overall, this is a high-risk EA with potential for high returns. Suitable for investors with very patient capital who can accept high risk levels.
Coming Soon…
Coming Soon…
- Alligator modifying
- Martingale lot size
- TP and SL setting
- Currency = USD/JPY
- Time Frame = H1
- Capital = $1,000
- Broker = Compatible with all brokers
- Jaws period = 13
- Jaw shift = 8
- Teeth period = 8
- Teeth shift = 5
- Lip period = 5
- Lip shift = 3
- Initial Lot = 0.01
- SL = 30
- TP = 60
What is the Alligator Indicator
The Alligator Indicator was developed over 50 years ago by Bill Williams, a renowned Forex analyst and trader. This indicator is highly popular due to its ease of use and accuracy in generating trading signals.
Alligator Indicator is a trend indicator, ideal for trend followers. This means the indicator isn’t particularly suitable for markets or currency pairs that are typically in sideways movement, though its effectiveness ultimately depends on how it’s applied.
The Alligator Indicator concept is based on the alligator’s anatomy, comparing different parts of the Alligator such as the jaw (Jaw), teeth (Teeth), and lips (Lips) as follows:
- Alligator Jaw (blue line) – Starts with 13 bars of Simple Moving Average smoothed with 8 bars
- Alligator Teeth (red line) – Starts with 8 bars of SMA smoothed with 5 bars
- Alligator Lips (green line) – Starts with 5 bars of SMA smoothed with 3 candlesticks
How the Alligator indicator works
The Alligator indicator is relatively easy to use compared to other indicators. It’s similar to a 3-line EMA system and comes built-in with Meta Trader 4 (MT4).
There are two main methods of using this indicator:
- Buy order entry and exit points
Watch the three lines. For Buy orders, when the green line crosses above both the red and blue lines as shown at point 1, enter a Buy order. Exit the order when the green line crosses back as shown at point 2.
- Sell order entry and exit points
For Sell orders, it’s the opposite of Buy orders. Watch the three lines – when the green line crosses below both the red and blue lines as shown at point 1, enter a Sell order. Exit when the green line crosses back as shown at point 2.
Conclusion
Alligator EA Forex is an EA that transforms this clever indicator into a Robot for 24/7 Forex trading… This EA is suitable for trending currency pairs and should not be used with sideways-moving pairs…
However, traders should thoroughly understand its operation before use to manage their risk effectively.
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