The Gator Oscillator indicator, recommended to be used with the Alligator indicator, is one of the famous indicators of Billi Williams who is famous for his Chaos Theory. It measures the distance between Crocodile’s jaw and teeth, and Crocodile’s teeth and lips. Also, it can be accepted as a leading indicator for the BUY-SELL decisions on the financial asset via allowing us to see the course of the movement starting where the lines become distant from each other and the period of instability where the lines come close to each other.
In order to access the Gator Oscillator indicator from the MetaTrader platform, you can respectively click on ToolBar, Add, Indicators then on Bill Williams. As mentioned at the beginning of our article, this indicator is recommended to be used with the Alligator Indicator. Moreover, the section where we will interpret the current indicator while uploading the indicator to the platform meaning the section where we will focus on the related indicator is the “Colors” tab. Here, we will be associating the green and red histograms with the Alligator indicator.
While interpreting the indicator, it will be divided as the part below and above level zero and in each section, the volatility of histograms will be examined compared to the previous one.
The Gator Gator Oscillator histograms that are located above level zero shows the gap between the blue and red lines within the Alligator indicator. The blue line portrays the Alligator’s Jaw on the Alligator indicator and the red line portrays the Alligator’s Teeth.
On the other hand, the Gator Oscillator histograms located below level zero show the gap between the red and green lines within the Alligator indicator. The red line portrays the Alligator’s teeth on the Alligator indicator and the green line portrays the Alligator’s lips.
When we evaluate Gator Oscillator histograms on their own, if one bar in the histogram is lower than the previous one, the color of the candle is red. If one bar in the histogram is higher than the previous one, the color is green.
While the most critical characteristic of the Gator indicator is the calculation of the gap between the lines in the Alligator indicator, it also allows us to see the course of the movement starting where the lines become distant from each other and the period of instability where the lines come close to each other. It can be considered as the foremost indicator for the financial asset that is subjected to BUY – SELL decisions.