Elliott wave software for forex
2, moved by 3 bars into the future. Alligator indicator helps to determine the presence and absence of a trend as elliott wave software for forex as its direction. If lines are intertwined or laid in the wrong order or are moving close together as one, it means that Alligator is sleeping with its mouth closed.
Traders should not open new trades. As Alligator sleeps it becomes hungry. 3 lines move closer together or intertwine again. Elliott wave traders can use Alligator as a helping indicator to identify impulsive and corrective waves: when price trades outside Alligator’s mouth, the impulsive wave is forming, when price trades inside Alligator’s mouth, the corrective Elliott wave is forming.
Don’t feed the Alligator when it sleeps! Can anyone explain the rationale behind shifting the Alligator lines forward in time? Either way, Alligator indicator will only show what’s happening now, it won’t get any forecasting value no matter what Shift settings are. It also wise for a trader to consider using other indicators rather than the alligator alone.
This way, the trader will be able to minimize losses. B Willianms how can i get the procedure on how to read the indicator and apply it on my metertrader. Trades should choose 1 primary time frame to trade with: plan entries and exits. Then, as the signal appears on the primary time frame, a trader can enter a trade immediately, or as an option go one time frame lower to see the smaller market changes in action and pick a better price for an entry there. Also the lower time frames help with re-entries. It’s all nice in theory, and easy to show past charts, but when you’re trading live, and things are moving forward, it’s a bit of a different story.