The Alligator Indicator for MT5 is a popular and useful free Forex indicator. It can be used to identify trends in the market, or to help traders find entry and exit points. The Alligator Indicator is based on three moving averages, which are set at different periods. The Alligator Indicator is composed of the Jaw, Teeth, and Lips lines, which are all based on different moving averages. The Jaw line is set to a 13-period moving average, the Teeth line is set to an 8-period moving average, and the Lips line is set to a 5-period moving average. The Alligator Indicator works by showing when the three lines are moving in the same direction, which is an indication of a trend. When the lines are moving in the same direction, it is a sign that the trend is strong and likely to continue. On the other hand, when the lines are moving in different directions, it is a sign that the trend is weakening and that it may be time to exit a position. The Alligator Indicator can also be used to identify entry points. The Alligator Indicator is a popular and useful free Forex indicator for MT5 that can be used to identify trends and entry/exit points.
MT5
Alligator Indicator
The Alligator Indicator for MT5 is a popular and useful free Forex indicator. It works by combining three moving averages, each of which is shifted by a certain number of periods. The indicator is easy to use and can be applied to different timeframes. It is a great tool for both beginner and experienced traders who want to make the most out of their trading activities.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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