Using the Gator Oscillator indicator
How to use the Gator Oscillator indicator?
Oscillator Gator is an indicator of technical analysis. It belongs to the class of trending, that is, indicators that indicate the direction and strength of the current trend in the market. The correct definition of the points of beginning, reversal, and continuation of the trend are aspects that allow you to earn money in any financial market.
Gator Oscillator was developed by Bill Williams, the legendary trader. Williams’ works are very famous, probably there is not a single experienced speculator who would not know who he is and what he is famous for. But besides supporters, there are plenty of people, most likely more massive people who do not use Williams indicators in trade. This fact is explained quite simply – most of the traders, both successful and not very, are proponents of algorithmic approaches to the market. Williams is not quite like that. He is more a philosopher than a trader, and in order to correctly understand his indicators, you must be the same. We won’t talk about this rule for long, just take it for granted – if you like the Bill Williams family of indicators and you think they will be useful for you when building your own trading strategy, first study all the books of the author from cover to cover.
The Gator Oscillator indicator is a two-color histogram. The principle of its operation is similar to Alligator with another Williams indicator, although the appearance is completely different. Alligator are three moving averages of different periods. But here, the disclosure of lines relative to each other does not mean anything, but the color, location relative to the zero mark and the size of the columns of the Gator Oscillator histogram indicate the presence or absence of a trend in the market. Which allows you to profit from trade.
Adding Oscillator Gator to MetaTrader
The Gator indicator is included in the standard equipment of the MT4 and MT5 trading platforms. To add it to the chart of the trading instrument, open the “Insert / Indicators /” menu .
Oscillator Gator indicator parameters
Since this indicator was created on the basis of the Alligator in the settings, it is possible to change its parameters. If you have not fully understood the principles of Bill Williams, changing something is not recommended.
Gator Oscillator Signals:
1. The histogram columns are colored in different colors above and below zero – the Alligator opens, that is, the movement begins;
2. Columns of the histogram turned green above and below zero – a trend in its active phase;
3. After the active phase, the histogram columns are again colored in different colors above and below zero – the trend has slowed down;
4. The histogram columns are colored red above and below zero – in the flat market, it is recommended not to trade.
Gator’s signals are quite simple to understand, with the developed skill you can easily build a profitable trading strategy using this indicator of technical analysis.
Simple Gator Oscillator Trading Tactics
We will use two indicators Alligator and Gator Oscillator in trading.
1. Prices are above the lines of the Alligator;
2. The columns of the histogram of the Gator Oscillator turn green above and below zero – we buy;
3. Set Stop Loss 3-5 points below the previous local extremum;
4. Close the transaction when the price has closed below the red line of the Alligator.
Please note that for a sale transaction, the opening conditions are almost the same. Only prices should be below the Alligator lines and we will close the deal when the price closes above the red line.
A few simple rules in conclusion
Remember, there are no indicators on Forex that are not mistaken. The Gator oscillator, like any other, requires confirmation of its signals. When building your own trading system, use several indicators.
Follow Mani Management. Never in one transaction risk more than 2 percent of your capital. This approach will protect you from ruin and allow you to consistently make money on Forex with the help of Gator.
Follow your trading strategy clearly. If you need to open a deal according to the Gator Oscillator strategy – open it, if you fix the result – fix it, and it does not matter if you are in the black. Only following the rules of the Gator indicator “from and to” will earn money.
Files for downloading the Gator Oscillator indicator
Gator Oscillator for MT4 can be downloaded here
Gator Oscillator for MT5 can be downloaded here
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