RideAlligator Advisor
Testing your own trading ideas becomes simply impossible without automation. Of course, you can manually check the viability of your idea over a historical period and draw certain conclusions, but this will take a fairly long period of time.
Moreover, there are no guarantees that when prices are formed in real time and the performance of work on a real account will coincide.
That is why automation of the simplest algorithms allows you to see an objective picture of the performance of your chosen tool.
The RideAlligator advisor is a trading expert that was born at the end of 2011 as a result of simple experiments on the effectiveness of one of the technical analysis , authored by Bill Williams.
Bill Williams made a huge breakthrough in the field of technical analysis by creating the Alligator indicator, which is the core of decision-making for opening positions in RideAlligator.
RideAlligator behaves ambiguously on various currency pairs and time frames, so it is recommended to test it before trading.
Installing RideAlligator in MT4
To begin detailed tests of this Expert Advisor and search for optimal settings, you will first need to download RideAlligator after reading this article and install the Expert Advisor in your trading terminal.
Launch the trading terminal and open the file menu directly in it. You will see a menu in which you will need to find the “Data Catalog” item and launch it. After you have launched this menu item, you will have access to the terminal’s system folders, so among the list, find a folder called expert and drop RideAlligator into it.
It is very important to restart the platform, because otherwise the terminal will not see the expert in the list of advisors.
After the restart, move the mouse cursor over the navigator panel, open the Expert Advisors section and drag RideAlligator onto the chart of the currency pair you previously selected. RideAlligator trading tactics.
Settings As we have already said, RideAlligator uses only one Alligator indicator to open positions and analyze the market.
A buy position is opened at the moment the lines intersect, namely the green line is on top, the red line is in the middle, and the blue line is below. So we should get the classic formation when the alligator starts eating, which is the lips, teeth, jaw are placed in that order.
For selling, the expert opens a position with the reverse placement of the lines, namely blue on top, red in the middle, and green below.
Thus, we have an inverse Williams formation.
The advisor does not use a stop order or profit, since the transaction is closed when a signal in the opposite direction appears, and the profit is fixed using trailing with a huge step, which is not directly available in the settings. There are only three parameters in the expert settings.
The AlligatorPeriod line is responsible for the period of the Alligator indicator.
AlliggatorMODE is responsible for the type of moving averages that make up the Alligator indicator.
If you enter 0 in the line, then the alligator will consist of three SMAs, if 1 is EMA, if 2 is SSMA, and if 3 is LWMA. The RiskFactor line is responsible for the dynamic calculation of the lot, and a fairly simple formula is used:
MMLot = (AccountBalance()*RiskFactor/100.00/100.00
Testing the strategy tester
Leaving all the default settings, we decided to test on the hourly chart of the euro/dollar currency pair for the entire 2015 year The result of the preliminary test on the historical period is shown below:
As you can see, the advisor did not lose the deposit, but the profit of $17 from a $1000 deposit for the year is simply negligible. Therefore, we decided to conduct another test, but on the four-hour chart of the pound/dollar currency pair. The test result is shown below:
As you can see, with the same settings, but on different currency pairs, the expert has radically opposite results. That is why, before you decide to place this robot on a real account, run it on different currency pairs and time frames, since the robot may not need to optimize the parameters at all, but may be suitable for working with the default settings.
Download RideAlligator Advisor