Alligator is not a crocodile here. I mean Alligator as an indicator used for trading purpose. Just a very simple notes I want to share with you here is on how to use Alligator for swing trading. I am not that good in trading, but within a few week, this handsome Alligator has gave me about 700 pips on Eur-Aud.
I said Eur-Aud, not other pairs because I tested on Eur Aud and this handsome alligator gives me great pips. But on Eur Jpy, this Alligator did not handsome enough for me.
By the way, I am not only depending to this Alligator to make an entry, still it based on other indicators as well especially Fibonacci Retracement, but what I want to stress here is that I rely a lot on Alligator to trade on this pair.
Here is the chart, the entry for short is whenever you see the whole candlestick closed below the Alligator, it is a good place to sell. Do not exit as long as the whole candle did not close above the Alligator. Simple right?
And to go long, whenever the whole candle closed above the alligator, it is a good point to enter. Simple right? Happy trading for you.
Here is a clean notes for you. Like it? Share this post in your Facebook 🙂 Click image for larger picture.
Don’t forget, 1 hour timeframe.
How to get this indicator?
Go to your Metatrader > Insert > Indicator > Bill Williams > Alligator. Thats it, as you can see on the chart.