Alligator technical indicator represents nothing more than the usual combination of three smoothed moving averages with different periods (13, 8 and 5), which shifted for various periods (8, 5 and 3, respectively). The author of this technical indicator uses the median price to build moving averages.
Each moving average the author gave it`s name:
View of indicator on the chart:
MEDIAN PRICE = (HIGH LOW)/2
ALLIGATORS JAW = SMMA (MEDIAN PRICE, 13, 8)
ALLIGATORS TEETH = SMMA (MEDIAN PRICE, 8, 5)
ALLIGATORS LIPS = SMMA (MEDIAN PRICE, 5, 3)
MEDIAN PRICE - the median price;
HIGH - the maximum price of a bar;
LOW - the minimum price of a bar;
SMMA (A, B, C) is the smoothed moving average. Parameter A - smoothed data, B - smoothing period, C - shift to the future. For example, SMMA (MEDIAN PRICE, 5, 3) means that the smoothed sliding is taken from the median price, while the smoothing period is 5 bars, and the shift is 3;
ALLIGATORS JAW - Alligator jaws (blue line);
ALLIGATORS TEETH - Alligator teeth (red line);
ALLIGATORS LIPS - Lips of the Alligator (green line).
To add and configure the indicator, you must open the settings window.
Source - settings of calculation parameters of the indicator:
Panel - select the location of indicator on graph:
Show value - display the value of the indicator on price scale.
Show zero values- display zero values.
Scale - if this option is enabled, the scale will automatically be calculated based on the minimum and maximum values of the indicator, in order for the indicator to be placed on the graph.
Color - choose color of line.
Visual type - visual adjustment of the indicator on the graph:
Line style - customize the appearance of the line:
Dash - dot
Dash - dot - dot
Width - adjust the thickness of the indicator line.
For Teeth and Lips lines settings are the same.
Jaw period - you can manually adjust jaw`s period.
Teeth period - you can manually adjust teeth`s period.
Lips period - you can manually adjust lips`s period.
Show description of indicator
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