Deviation from Alligator

The indicator signals the appearance of a possible divergent bar based on the shape of the bar and its standard deviation from the Alligator indicator.

A bullish divergent bar is a bar that closes in its upper half (the higher the better), has a lower minimum than the previous bar, and drops sharply away from the Alligator.

A bearish divergent bar is a bar that closes in its lower half (the lower the better), has a higher high than the previous bar, and moves up sharply from the Alligator.

Standard deviation is a measure of how far a value is from its mathematical expectation.


SETTINGS

History - historical signal limit.

Bar closing - a condition for closing a signal bar.

Standard deviation - a coefficient of the distance of the signal bar from the Alligator (the higher the value, the rarer the signals).

Extremum - the number of bars by which highs and lows are determined.

Up arrow color - bullish signal color.

Down arrow color - bearish signal color.

Alerts - signal notification.

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