The Gator Oscillator is an essential tool for traders using MetaTrader 5, built on the foundations of the Alligator Indicator. This oscillator effectively highlights the convergence and divergence of the Balance Lines, which are calculated using the Smoothed Moving Average (SMMA).
In the Gator Oscillator, the upper bar chart represents the absolute difference between the blue and red lines, while the lower bar chart indicates the difference between the red and green lines, displayed with a negative sign to create a top-down view.
Gator Oscillator
How It's Calculated:
MEDIAN PRICE = (HIGH + LOW) / 2
ALLIGATOR'S JAW = SMMA (MEDIAN PRICE, 13, 8)
ALLIGATOR'S TEETH = SMMA (MEDIAN PRICE, 8, 5)
ALLIGATOR'S LIPS = SMMA (MEDIAN PRICE, 5, 3)
Where:
- MEDIAN PRICE - the average price;
- HIGH - the highest price of the bar;
- LOW - the lowest price of the bar;
- SMMA (A, B, C) - the Smoothed Moving Average. Here, A is the data to be smoothed, B is the smoothing period, and C is the shift into the future. For example, SMMA (MEDIAN PRICE, 5, 3) means that the smoothed moving average is based on the median price, with a smoothing period of 5 bars and a shift of 3 bars;
- ALLIGATOR'S JAW - the blue line;
- ALLIGATOR'S TEETH - the red line;
- ALLIGATOR'S LIPS - the green line.
Note:
We’ve added two indicator codes for your convenience: Gator.mq5 which calculates the Gator using Moving Averages (iMA), and Gator_2.mq5 which utilizes the iAlligator for its calculations.
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