About the Super Alligator Signal Indicator
The Super Alligator Signal indicator for MT4 is a trend-following tool based on the classic Alligator system.
It simplifies the traditional Alligator by generating clear buy and sell arrows on the chart, helping traders quickly identify trade opportunities.
The indicator uses three lines: Jaws (blue), Teeth (red), and Lips (green), each set to different periods (8, 5, 3).
A red arrow signals a potential buy when the green line is above the red and blue lines, and the red line is above the blue line.
A green arrow signals a potential sell when the green line is below the red and blue lines, and the red line is below the blue line.
Traders can use this indicator alone or in combination with other tools to confirm trend direction and entry points.
All settings, including periods, can be customized via the inputs tab.
Free Download
Download the “alligator-signal-indicator.mq4” MT4 indicator
Key Features
- Generates buy (red arrow) and sell (green arrow) signals based on Alligator lines.
- Easy-to-follow trend signals for quick decision making.
- Can be used alone or with other technical indicators.
- Customizable input settings for periods and sensitivity.
Indicator Chart
The Super Alligator Signal chart displays the Jaws, Teeth, and Lips lines with red and green arrows marking bullish and bearish setups.
Traders can see when the trend aligns and use these arrows to enter trades in the direction of momentum.
Guide to Trade with Super Alligator Signal Indicator
Buy Rules
- Confirm the green line is above the red and blue lines, and the red line is above the blue line.
- Wait for a red arrow to appear on the chart.
- Enter a buy trade at the appearance of the arrow.
- Ignore buy signals if the trend is downward or uncertain.
Sell Rules
- Confirm the green line is below the red and blue lines, and the red line is below the blue line.
- Wait for a green arrow to appear on the chart.
- Enter a sell trade at the appearance of the arrow.
- Ignore sell signals if the trend is upward or uncertain.
Stop Loss
- For buy trades, place the stop-loss below the most recent swing low or support level.
- For sell trades, place the stop-loss above the most recent swing high or resistance level.
- Adjust stop distance according to volatility and timeframe.
Take Profit
- Close buy trades when a green arrow appears.
- Close sell trades when a red arrow appears.
- Optionally, use a fixed profit target of your choice.
Super Alligator Signal + Renko Boxes Indicator Forex Strategy for MT4
This MT4 strategy combines the Super Alligator Signal MT4 indicator and the Renko Boxes MT4 indicator.
The Super Alligator Signal gives arrows: a red arrow for buy signals and a blue arrow for sell signals.
The Renko Boxes indicator helps filter trend direction by coloring boxes: blue for bullish and red for bearish.
Using both together helps confirm momentum and filter out noise for clean entries.
This strategy works well on M15 and H1 charts and suits major and cross currency pairs with clear price movement.
Buy Entry Rules
- The Super Alligator Signal indicator prints a red arrow for a buy signal.
- The Renko Boxes on the chart are blue, indicating bullish trend momentum.
- Enter a long trade immediately after the red arrow appears if the Renko background is blue.
- Place a stop loss just below the recent swing low or below the bottom of the last red Renko box.
- Take profit when price action shows reversal signs or when Renko boxes turn red. Close trade before reversal or scale out in parts.
Sell Entry Rules
- The Super Alligator Signal indicator prints a blue arrow for a sell signal.
- The Renko Boxes on the chart are red, showing bearish trend momentum.
- Enter a short trade immediately after the blue arrow appears if the Renko background is red.
- Place a stop loss just above the recent swing high or above the top of the last blue Renko box.
- Take profit when price begins to show reversal signs or when Renko boxes change to blue. Exit before reversal or scale out gradually.
Advantages
- Combines clear entry signals with a trend filter to reduce noise-driven trades.
- Renko boxes smooth price action and highlight trend direction clearly.
- The strategy works on multiple timeframes, from M15 and H1 for stable moves to lower timeframes for more opportunities.
- Suitable for many currency pairs showing decent volatility and trending behavior.
Drawbacks
- Price retracing sharply after an arrow signal may trigger a stop loss before the trend resumes.
- Relying on Renko box color may ignore price action nuances, causing premature entries or exits.
- The strategy may produce fewer trades during quiet sessions, reducing overall performance.
- Short-term trades may be affected by spread and slippage, especially on volatile pairs.
Example Case Study 1 (EURUSD H1 bullish move)
On EURUSD H1 during a trending session, the Super Alligator Signal placed a red arrow at 1.1025.
The Renko Boxes background was blue.
A long trade was entered at 1.1027 with a stop loss at 1.0998, below recent swing low.
Price rose steadily and Renko boxes remained blue.
The trade was closed when a Renko box changed to red at 1.1082, capturing 55 pips.
Example Case Study 2 (USDJPY M15 bearish move)
On USDJPY M15, a blue arrow appeared from the Super Alligator Signal at 155.10 while Renko Boxes were red.
A short trade was entered at 155.08. Stop loss was placed at 155.45, above the recent swing high.
Price declined and remained aligned with the red Renko boxes.
The trade was closed when a blue Renko box formed at 154.65, for a profit of 43 pips.
Strategy Tips
- Do not enter trades when Renko boxes are switching colors rapidly. Wait for a stable sequence of at least two to three aligned boxes.
- Consider scaling out to take partial profit and trail stop for the rest of the position.
- Avoid trading around major news releases to prevent false signals and reversals.
- Use a broker with low spreads and fast execution to reduce slippage.
- Adjust stop loss based on recent volatility for each pair.
- Backtest the strategy on each pair before live trading for optimal customization.
Download Now
Download the “alligator-signal-indicator.mq4” Metatrader 4 indicator
FAQ
What makes the Super Alligator Signal different from the traditional Alligator?
It adds clear buy and sell arrows based on the relative positions of the Lips, Teeth, and Jaws lines, making it easier for traders to follow signals without manually interpreting the lines.
Can I adjust the indicator’s periods?
Yes, traders can change the periods of the Jaws, Teeth, and Lips lines in the inputs tab to match their preferred trading style and timeframe.
How reliable are the signals on their own?
Traders can use the arrows as standalone signals, but combining them with other indicators like moving averages or oscillators can improve accuracy and reduce false signals.
How should trades be managed or exited?
Trades can be exited when an opposite arrow appears, when the trend changes, or using your own exit rules based on support, resistance, or price action levels.
Summary
The Super Alligator Signal indicator for MT4 provides clear, trend-following signals that make it simple for Forex traders to identify bullish and bearish setups.
Red arrows indicate potential buy opportunities, and green arrows indicate potential sell opportunities.
This indicator is ideal for traders who want a visual and easy-to-read system based on the classic Alligator lines.
Combined with trend confirmation or other technical tools, it helps traders recognize high-probability entries and stay aligned with market momentum.
Traders can use the Super Alligator Signal on various timeframes to enter trades in the direction of the trend, react to market changes efficiently, and manage positions effectively.
