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- What's new
The indicator has standard settings. The new modification of indicator provides special marking of the segment when the moving averages begin to form a cross in one direction or another. The Alligator`s cross indicates that the trend is about to change. Modified Alligator helps traders to determine a trend on a particular timeframe even if the averages are intertwined and have a shift in the future. Direction of a trend is determined by a cross of the averages with a specified marking area on them. This function of the modified indicator allows you to avoid the uncertainty of the trend direction, even when the averages are intertwined on a specific timeframe.
It is worth noting that the trend on a larger timeframe is more dominant. For example, if the Alligator`s moving averages indicate a bullish trend on the daily chart, then the crossing of the averages in the opposite direction on the 4H chart would be less impactful. It may also mean that there might be an upcoming correction on the daily timeframe. If the price closes below the Blue Alligator line (Jaws) or the level of a cross it may indicate a weakening of a trend on the analyzed timeframe. Moreover, the method of displaying "cross lines" can help the trader to determine the angulation of a price to the moving averages and the parallel market.
The indicator is included in the software package based on Trading Chaos and is recommended to be use with the following software products: