Expert advisor based on alligator HL price scalper forex strategy. Alligator indicator is used to determine trend. Following entry is triggered by price rising/falling and subsequently breaking the low/high of the last signal candle. Each position has a profit target of 5 pips and stop loss of 30 pips.
Used forex indicators:
Alligator. Combination of moving averages determines uptrend/downtrend. Trade is entered only in the direction of trend.
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SELL: Four consecutive candles. Low of each candle is higher than previous low. Sell pending order is placed at low of the last – fourth signal candle.
BUY: Four consecutive candles. High of each candle is lower than previous high. Buy pending order is placed at high of the last – fourth signal candle.
Notes to input:
Take profit : Take profit for orders
Stop loss : Stop Loss for orders
Alligator teeth: medium period
Alligator jaw: slow period
Alligato lips: fast period
Stay valid: How long will untriggered pending order remain valid until canclelled
Position size: determine postion size for each trade
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.