Alligator Trader EA is an automated system created in April 2020 by developer Ciprian Ghebanoaei. Alligator Trader is a fully automatic expert trade consultant. This robot has been designed specifically for trading with the USDJPY currency pair. In the tests carried out by the creator, it has been concluded that the time frame in which this EA performs best is in M30, although it has also had good results in other different time frames.
This EA does not need complicated configuration parameters, as it already comes ready for use in just a few minutes. The expert advisor, after downloading, comes prepared to work with the USDJPY currency pair and an M30 time frame. The user only needs to decide on the choice of lot with which he wants to trade.
Alligator Trader EA has an intelligent algorithm that detects the market trend, in this case, the USDJPY, and filters out the noise generated by the market. The expert will always create commands on the direction of the trend. The input and output commands are given by a combination of two indicators that can be found on any MT4 platform: Crocodile Indicator and Williams Percent Range.
The robot also contains stop loss and take profit, which provides capital security for times when volatility is high, for example, due to news or high impact events. The expert was tested on 1 year of USDJPY historical data. The user can test other currency pairs to check their profitability outside the USDJPY. This expert is optimized for USDJPY. Obviously, each currency pair has its own features. The recommended minimum deposit to start trading with this EA is 500 USD.
The creator recommends, as with any EA, the use of a virtual server or VPS while the advisor is working. If the user has no possibility to have this resource, he will be forced to have his computer turned on 24/7. Having a solid broker is important. Possibly an ECN account with low latency so that market orders can be executed as soon as possible.
In short, we are talking about a quite simple robot, one which the developer based on what works. Specifically, this EA uses 2 combined indicators, the Crocodile Indicator and the Williams Percent Range. Due to its simplicity, this is an EA suitable even for the most novice traders, as is very easy to understand and does not need any additional adjustments as this robot is already configured from the origin by the author.
As it is a newly created tool, it does not yet have comments from other users that give us an idea of how it has turned out to work. It is advisable to wait a while to see how this robot develops and if the results are good, we can consider using it. Either way, it has a demo version where we can test the robot and put it into operation, both with the currency pair commented by the author, USDJPY and with other currency pairs.
If you are interested in this tool and want to buy it, it is available on the MQL market at a price of 75 USD and is also available for rent at a price of 10 USD for 3 months of use.