The Gator Oscillator is a useful forex indicator available for MT5 that has become quite popular among traders. It is a free tool that helps in identifying the direction of the market trend and the strength of the trend. The indicator works by displaying two histogram bars on the price chart – one above and one below the zero line. These bars change color based on the relationship between the Alligator’s jaw, teeth, and lips. When the bars are green, it indicates a strong upward trend, while red bars indicate a strong downward trend. Traders can use the Gator Oscillator to confirm trend signals, identify potential reversal points, and spot divergences between the indicator and price movement. It is a versatile tool that can be used in conjunction with other technical analysis tools to make more informed trading decisions.
MT5
Gator Oscillator
Gator Oscillator Indicator MT5 is a popular and useful forex indicator that is available for free. This indicator works by displaying the convergence and divergence of two smoothed moving averages, helping traders identify potential trends in the market. Traders can use this indicator to make informed decisions about when to enter or exit trades based on the signals it provides.
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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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