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Alligator Indicator & Fractals by Bill Williams


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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

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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

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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.

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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

Alligator.png

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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

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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.

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