Gator Oscillator
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Gator Oscillator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Gator Oscillator is based on the Alligator and shows the degree of convergence/divergence of the Balance Lines (Smoothed Moving Average).
The top bar chart is the absolute difference between the values of the blue and the red lines. The bottom bar chart is the absolute difference between the values of the red line and the green line, but with the minus sign, as the bar chart is drawn top-down.
Gator Oscillator
Calculation:
MEDIAN PRICE = (HIGH + LOW) / 2ALLIGATORS JAW = SMMA (MEDIAN PRICE, 13, 8)ALLIGATORS TEETH = SMMA (MEDIAN PRICE, 8, 5)ALLIGATORS LIPS = SMMA (MEDIAN PRICE, 5, 3)
where:
MEDIAN PRICE - median price;
HIGH - the highest price of the bar;
LOW - the lowest price of the bar;
SMMA (A, B, C) - Smoothed Moving Average. Parameter A - smoothed data, B - smoothing period, C - shift to future. For example, SMMA (MEDIAN PRICE, 5, 3) means that the smoothed moving average is taken from the median price, while the smoothing period is equal to 5 bars, and the shift is equal to 3 bars;
ALLIGATORS JAW - Alligator's jaws (blue line);
ALLIGATORS TEETH - Alligator's teeth (red line);
ALLIGATORS LIPS - Alligator's lips (green line).
Remark
We have included 2 codes of the indicator:
Gator.mq5
with the direct calculation of Gator using the Moving Averages (iMA), the second code, which presented in
Gator_2.mq5
uses the iAlligator for calculations.
