The built-in implementation of the alligator is incorrect. It uses SMA with altered input parameters to approximate the true alligator indicator.
The alligator was created with a supercomputer to model the elliott wave - it's very apart from other MA techniques. The built-in approximation (and similar techniques) and the true alligator yield very different conclusions. Hence the need for this, a true and exact implementation of "The Mighty Alligator" (Bill Williams, Trading Chaos 1, New Trading Dimensions, Trading Chaos 2).
Note: First script submission. Didn't mean to use this chart. Ugly and messy. Oops.
wow cool to know about this im a big bill williams fan. i finally became confident and consistenly profitable and started trading full time
theonetheonly310
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how does this help with EW?
GarethSA
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Hi
1) Can this be used with Crypto Trading ?
2) Can the offset to changed to 0 as then it is more accurate on 1hr chart?
iDS7
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@GarethSA, Absolutely it can be used for any trading. Offset it how you like, howevre the purpose of the alligator is quite deep and you may want to look into it a bit.
Andydray
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Overlayed this Indicator with the built In Alligator on my chart & they seem to come up identical.