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Alligator Forex Indicator For MT5

    The Alligator Forex indicator for Metatrader 5 is a popular technical analysis tool that delivers solid trading signals for any currency pair.

    The indicator appears in the main chart as 3 colored lines (green, red, blue) that together form a buy/sell trading system.

    Trend Direction

    • The trend is considered bullish when the green line > red line > blue line AND the red line > blue line.
    • The trend is considered bearish when the green line < red line < blue line AND the red line < blue line.

    The indicator never repaints the colored lines and does not slow down the trading platform.

    Key Points

    • Complete trading system
    • 100% No-repaint indicator
    • Works for any currency pair
    • Works for any time frame
    • Delivers buy/sell signals
    • Programmed for Metatrader 5

    Free Download

    Download the “Alligator.mq5” indicator for MT5

    Example Chart

    The chart below shows the Alligator Forex indicator attached to the EUR/USD 15-minute chart.

    Trading Signals

    The Alligator indicator for MT5 can be used in multiple ways, find a basic trading example below:

    Buy Signal:

    • A buy signal is given when the green line is positioned above the red and blue line AND the red line is positioned above the blue line.
    • Place your stop loss 2-3 pips below the previous swing low price.
    • Exit the buy trade for a fixed profit target or wait until a sell signal occurs on the chart.

    Sell Signal:

    • A sell signal is given when the green line is positioned below the red and blue line AND the red line is positioned below the blue line.
    • Place your stop loss 2-3 pips above the previous swing high price.
    • Exit the sell trade for a fixed profit target or wait until a buy signal occurs on the chart.

    Download

    Download the “Alligator.mq5” indicator (MT5)

    How to install the Alligator indicator in Metatrader 5?

    • Copy the Alligator indicator in the MT5 indicator folder
    • Restart the trading platform
    • Select and attach the indicator to any chart of your preference

    How to remove the indicator from the chart?

    • Click with your right mouse button in the chart
    • Select the indicator list from the drop down menu
    • Remove the indicator from the list
    • Press close