Strongest Alligator MT5
Strongest Alligator is a further development of the classical Bill Williams' Alligator indicator, which is based on Fibonacci numbers and is a combination of three smoothed moving averages SМMA (applied to the Median price = (high + low)/2) with the periods of 5, 8 and 13, which are part of the Fibonacci series; also moving averages are shifted forward by 3, 5 and 8 bars respectively, which are also Fibonacci numbers (preceding the appropriate values of periods).
The Strongest Alligator indicator is based (following the same principle used in the classical Alligator) on seven Fibonacci numbers and represents the current market state like in seven notes, allowing to "hear" the whole scale of the market sound.
Specifically: Strongest Alligator allows you to immediately see market trends of different time scales on a single chart, based on which you can easily visually identify not only the consolidation of prices near a level (convergence and intertwining lines, which become horizontal in this case), the beginning of trends ("opening of the alligator's mouth") and end of trends (consolidation and intertwining lines), as in the classical Alligator, but also their rollbacks.
If the "Alligator's mouth" is widely open on moving averages with large periods, in the time scales of which the trend is identified, and consolidation begins on smaller moving averages, then the trend should roll back. The length of the trend of the corresponding time scale is usually proportional to the length of the previous consolidation area (of the same scale) in which the market spends most of the time (70%-80%). This provides additional information for assessing the market state: it allows evaluating whether the trend reversal starts or the trend ends.
Strongest Alligator is a combination of seven smoothed moving averages SМMA with the periods of 3, 5, 8, 13, 21, 34, 55 shifted forward by 2, 3, 5, 8, 13, 21, 34 bars respectively. Any of these lines can be disabled to form an appropriate indicator type. Line shifts can also be removed.
- Applied price - price used for calculation. Values: Close price, Open price, High price, Low price, Median price ((high + low)/2 – default), Typical price ((high + low + close)/3), Weighted price ((high + low + 2*close)/4).
- Moving average method - method used for MA averaging. Values: Simple, Exponential, Smoothed (default), Linear weighted.
- Use the averaging period 34? - whether to enable the averaging period of 34. Values: true, false.
- Use the averaging period 55? - whether to enable the averaging period of 55. Values: true, false.
- Use the averaging period 21? - whether to enable the averaging period of 21. Values: true, false.
- Use the averaging period 13? - whether to enable the averaging period of 13. Values: true, false.
- Use the averaging period 8? - whether to enable the averaging period of 8. Values: true, false.
- Use the averaging period 5? - whether to enable the averaging period of 5. Values: true, false.
- Use the averaging period 3? - whether to enable the averaging period of 3. Values: true, false.
- The moving averages shifting? - whether to apply shifting of moving averages. Values: true, false.