The Bill Williams Alligator robot is an expert advisor for MetaTrader 4 based on the famous Alligator indicator by Bill Williams. It uses three shifted moving averages, known as the jaw, the teeth and the lips, to detect the start and the direction of a trend and to trade in its favor.
How it works
The robot opens a buy when the three averages point upward and the fast one is above the slow one, a bullish trend signal. It opens a sell when the three averages point downward and the fast one is below the slow one. The trade closes with fixed levels or when the opposite signal appears. It excels in clear trends and should be filtered in ranging markets.
Configurable parameters
- Jaw period and shift: the slow average of the system.
- Teeth period and shift: the intermediate average.
- Lips period and shift: the fast average.
- Position size, Stop Loss and Take Profit in pips.
Recommended requirements
- MetaTrader 4 and a broker with competitive spreads.
- Use it preferably on medium timeframes and in trending markets.
File contents: .mq4 source code ready to compile in MetaEditor. Always test on DEMO before trading live.
View the original robot documentation on EarnForex (Apache-2.0 license)
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