Alligator Indicator & Fractals by Bill Williams

[StockScout]

I can set up the Alligator indicator, but it would be nice if it was available at the click of a mouse button. Adding fractals would be a nice addition too.

If they're in the program and I missed them, I apologize.

Craig

Edited May 3, 2017 by StockScout

[Mike Medved]

I could make an indicator that is described here: http://www.forextraders.com/forex-education/forex-indicators/alligator-indicator-explained/

Basically 3 shifted SMAs. Is that what you meant?

[StockScout]

Yes sir.

[Ciuccio]

Need to add the Fractals

[Mike Medved]

Can you give a link explaining it?

[Lapa]

This may help https://www.tradingview.com/script/Uyv9vQc2-Williams-Fractals-Tutorial-Template/

[Mike Medved]

I really *really* hate backward-stamping indicators. If anything, that arrow should show on current candle, because it is the current candle that tipped the scale into the arrow showing up.

[Lapa]

On 6/20/2017 at 1:17 PM, Mike Medved said:

I really *really* hate backward-stamping indicators. If anything, that arrow should show on current candle, because it is the current candle that tipped the scale into the arrow showing up.

I take it that you won't be implementing the poor little fractals

[Mike Medved]

I may implement it as a System Paintbar that will be automatically included in MT. But the arrow will not be plotted N candles back, but on the candle that triggers it. Will that do?

[Lapa]

that could do, would it be too cumbersome to have the option for an alternative setup?

[Mike Medved]

I will look at it this weekend. The problem with modifying previous candles connected deeply to the whole charts code. It is very much oriented at only the last candle and its indicator value changing.

[StockScout]

I'm a big proponent of Bill Williams work, especially the Alligator and Fractal indicators. Although a modified paint bar version sounds great too. 

https://www.ifcmarkets.com/pdf_files/forexbook/en/Trading-Indicators-by-Bill-Williams-eBook.pdf

[Mike Medved]

Ok, Lapa, I took a look at your link. Basically it says plot a down arrow at a candle whose high is highest in 5 candles - 2 before and 2 after. Reverse for lows.

That looks a bit too simple. Are you sure that is what you want?

With a paintbar, just make an Advanced paintbar, no indicators, and put the following code in:

public void MainCalculation()
{
    double H = High[2];
    if ( H>High[4] && H>High[3] && H>High[1] && H>High )
        SetColorAndShape("Local Max", PBShape.ArrowDn, SysColor.Negative);
    double L = Low[2];
    if ( L<Low[4] && L<Low[3] && L<Low[1] && L<Low)
        SetColorAndShape("Local Min", PBShape.ArrowUp, SysColor.Positive);
}

It could also be done with Simple paintbar, but would involve 8 rules. Advanced is easier.

As I said, this will not put the arrows at the local min/max, but at the candle that created the local min/max - that is, the arrows will be shifted 2 to the right compared to the ones in your link. But the logic is there.

Or you could separate it into two paintbars so you could show one of them above candles and the other below candles.

[Mike Medved]

StockScout: from that doc, 3 are implemented (1 is Alligator, the other I showed the code for above, and MFI has always been included). Guess I could do Gator Oscillator as well.

[StockScout]

Great, thank you sir!

[Mike Medved]

Ok - I fixed Alligator indicator (was not working right for SMMA and EMA) and added Gator Oscillator. Will be in next beta.

[StockScout]

I just want to say I really appreciate the dedication to your customers request.  

I did see the issue with the Alligator Indicator today as shown in the photo, but no worries. Also, your system already has a Momentum Oscillator, which from what I can tell is identical to the Awesome Oscillator. Maybe it just needs a new label (Momentum/Awesome Oscillator).

Cheers,

Craig

Edited June 28, 2017 by StockScout

[Mike Medved]

Awesome Oscillator is right there in the list

[Lapa]

On 28/06/2017 at 10:58 AM, Mike Medved said:

Ok, Lapa, I took a look at your link. Basically it says plot a down arrow at a candle whose high is highest in 5 candles - 2 before and 2 after. Reverse for lows.

That looks a bit too simple. Are you sure that is what you want?

Simple is always best

[Riker66]

Hello, isnt´t is possible to set up the arrows on the min/max candles. TOS, Ninja and Trandingview can.

I meant William´s Fractals.

[Mike Medved]

Riker66, can you expand on this a bit. What do you mean by min/max candles? If you just want to show local minima and maxima, that really is not an "indicator" per se, at least not one that MT would do.

MT has to be able to calculate the indicator on the last candle being plotted. Having a minimum or a maximum is inherently a backwards-looking calculation.

[Riker66]

You are right, it is not really an idicator. It would be nice, if the down and up fractals could be marked at the place they occur. Of course this requires a backward calculation.
But you told before that this isn´t possible.