Gator Oscillator - indicator for MetaTrader 5

Gator Oscillator is based on the Alligator and shows the degree of convergence/divergence of the Balance Lines (Smoothed Moving Average).

The top bar chart is the absolute difference between the values of the blue and the red lines. The bottom bar chart is the absolute difference between the values of the red line and the green line, but with the minus sign, as the bar chart is drawn top-down.

Gator Oscillator

Calculation:

where:

• MEDIAN PRICE - median price;
• HIGH - the highest price of the bar;
• LOW - the lowest price of the bar;
• SMMA (A, B, C) - Smoothed Moving Average. Parameter A - smoothed data, B - smoothing period, C - shift to future. For example, SMMA (MEDIAN PRICE, 5, 3) means that the smoothed moving average is taken from the median price, while the smoothing period is equal to 5 bars, and the shift is equal to 3 bars;
• ALLIGATORS JAW - Alligator's jaws (blue line);
• ALLIGATORS TEETH - Alligator's teeth (red line);
• ALLIGATORS LIPS - Alligator's lips (green line).

Remark

We have included 2 codes of the indicator:  Gator.mq5 with the direct calculation of Gator using the Moving Averages (iMA), the second code, which presented in Gator_2.mq5 uses the iAlligator for calculations.