The Alligator Indicator, a popular tool in forex trading, is a useful technical analysis indicator for traders using the MT4 platform. This free indicator helps in identifying trends and potential market reversals by displaying three moving averages on the chart: the Jaw, Teeth, and Lips. The Jaw (blue line) represents a 13-period Smoothed Moving Average shifted 8 bars into the future, the Teeth (red line) is an 8-period Smoothed Moving Average shifted 5 bars into the future, and the Lips (green line) is a 5-period Smoothed Moving Average shifted 3 bars into the future. When these lines are entwined, it indicates the market is ranging, while a wide mouth suggests a strong trend. Traders can use the Alligator Indicator to confirm trends, set stop losses, and identify entry and exit points. It is a valuable tool for both beginner and experienced forex traders.
MT4
Averages Alligator
The Averages Alligator Indicator is a popular and useful forex indicator for MetaTrader 4 (MT4). It is a free tool that helps traders identify trends and make informed trading decisions. This indicator works by combining three moving averages to show potential buy and sell signals. Traders can use the Averages Alligator Indicator to confirm trends and manage risk in their trading strategies.
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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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