The Alligator Indicator is a useful tool for forex traders. It is a popular and free indicator that can be used in MetaTrader 4 (MT4). The Alligator Indicator is a combination of three moving averages that helps traders identify the start of a new trend. It is based on the idea that markets and prices move in cycles. The Alligator Indicator is composed of three lines. The first line is the Alligator’s Jaw, which is a 13-period smoothed moving average, shifted forward by 8 bars. The second line is the Alligator’s Teeth, which is an 8-period smoothed moving average, shifted forward by 5 bars. The third line is the Alligator’s Lips, which is a 5-period smoothed moving average, shifted forward by 3 bars. The Alligator Indicator is a useful tool for forex traders. It can help traders identify potential trends and reversals, which can be used to enter or exit trades.
The Alligator Indicator is a popular MT4 and useful forex indicator used in technical analysis. The Alligator Indicator is based on the idea that markets move in cycles of varying periods. It is composed of three moving averages, with each one representing a different time period. The shorter moving average is the most active, and the longer moving average is the least active. The Alligator Indicator helps traders to identify the trend and the direction of the trend. It also helps traders to identify when the trend is reversing. The Alligator Indicator is free to use and is widely used by forex traders.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.