Gator Elder Forex Trading Strategy

The Gator Elder FX trend following strategy combines two very vital technical studies, one for trend direction and one for trade entry in the direction of the trend.

To be able to experience this awesome strategy, you’ll have to add the indicators (download strategy below) unto your trading chart and watch out for the patterns to unfold.

Chart Setup

MetaTrader4 Indicators: ZZ_YZ_MDAC_ELDER_1-1000.ex4 (default setting), r_Gator.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hour, Day

Recommended Trading Sessions: Any

Currency Pairs: Any + Gold

Download

Download the Gator Elder Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following conditions or rules are met:

  1. If the red line of the r_Gator.ex4 custom indicator crosses the blue and green line bottom up, aligns itself in such a way that it hovers above the green and the blue lines (in a descending order), with price also opening and closing somewhat above the lines. The bullish trend is termed extremely strong when price is visibly above the red line of the r_Gator.ex4 custom indicator. Initiate a buy entry in light of the aforementioned.
  2. If the chocolate line and histograms of the ZZ_YZ_MDAC_ELDER_1-1000 custom indicator align above the 0.00 signal level, price is said to be pushed higher i.e. a buy signal. It is a strong bullish trend when the histograms are colored green.

Stop Loss for Buy Entry: Place stop loss below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit on position if the following chart or indicator patterns are on display:

  1. If the red line of the r_Gator.ex4 custom indicator crosses the green and blue line top downward, it is a trigger to exit or take profit accordingly.
  2. If the chocolate line and histogram of the ZZ_YZ_MDAC_ELDER_1-1000 custom indicator breaks below the 0.00 alert level, it is a signal to exit or take profit straightway.

Sell Entry Rules

Enter a sell order if the following indicator or chart pattern gets shown:

  1. The order changes this time, as the red line of the r_Gator.ex4 custom indicator crosses the green and blue line top downward, aligning itself in manner it sits at the bottom and above it is the green and blue line (in an ascending order). Price trades somewhat beneath the lines of the r_Gator.ex4 indicator. This setup signals a bearish trend.
  2. If the chocolate line and histograms of the ZZ_YZ_MDAC_ELDER_1-1000 custom indicator align below the 0.00 signal level, price is said to be pushed lower i.e. a sell signal. It is a strong bearish trend when the histograms below the 0.00 signal level are colored red.

Stop Loss for Sell Entry: Place stop loss above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following indicator or chart pattern gets displayed:

  1. If the red line of the r_Gator.ex4 custom indicator crosses the green and blue line bottom up as shown on Fig. 1.1, it is a trigger to exit or take profit accordingly.
  2. If the chocolate line and histogram of the ZZ_YZ_MDAC_ELDER_1-1000 custom indicator breaks above the 0.00 alert level, it is a signal to exit or take profit straightway.

Sell Trade Example

Fig. 1.1

Free Download

Download the Gator Elder Forex Trading Strategy

About The Trading Indicators

The r_Gator.ex4 is an indicator that resembles the Alligator MT4 indicator (since they show similar values of MA periods). The r_gator.ex4 only generates its signal earlier than the Alligator.

The ZZ_YZ_MDAC_ELDER_1-1000.ex4 combines trend following and momentum, with the histogram colored according to Elder.

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