MetaTrader 4 (MT4) is currently the world's most popular platform for online Forex trading, as well as for transactions with precious metals. It provides an opportunity to trade on various timeframes, use various types of orders both with an immediate and a deferred execution. MT4 provides vast opportunities for technical analysis, testing and use of a huge amount of indicators and trading robots, as well as for copying professional traders' signals in a fully automatic mode.
One of the widely used Forex indicators, introduced by Bill Williams, is called ‘Alligator’. When explaining peculiarities of application of this ‘beast’, its creator stated, that the transactions should be opened only when the Alligator opens its jaws. The reptile is hungry, which implies a beginning of a trend. When it satisfies its hunger, it closes the jaws, which serves as a signal for the trend ending and the position closing.
As to the trend, everything is clear here, but according to statistics, it only takes 20 - 25% from the total time, during the rest of time we see the flat trend in the market. So, should we stop working during this period of time?
This strategy is rather easy to use and it can be successfully applied by novice traders as well as by traders who are already at ease with Forex trading.
Its other advantages include:
– use of only two indicators, both are integrated in MetaTrader terminals МТ4 and МТ5.
– possibility to use it on various currency pairs and timeframes.