149# Entropy forex indicator with Alligator indicator Trading System
Alligator trend following forex strategy with Entropy.
Retracement Trading Method
19/09/2012 Submit by Janus Trader
This trend following trading system, we have two indicators: Alligator indicator created by Bill Williams and Entropy indicator (created by Aleksandr Pak ) which is an indicator of market strength.
Forex Indicators:
Alligator (13,8,5);
EntropyMath forex indicator (12 period with 0.001 Buy level and -0.001 Sell level).
Buy
Condition: the candles are above the Alligator indicator.
1Wait for the Alligator Lip (green line) to cross above the Jaw (blue line).
2. Wait for the Alligator Teeth (red line ) to cross above the Jaw (blue line).
3. Wait for the Entropy math 12 to cross 0.001.
4. Enter a Buy trade at the retracement on the green line.
5. Insert your Stop Loss below the most recent Swing Low.
-
Set your Take Profit the same number of pips away from your entry price as your Stop Loss, i.e. a 1:2 or greater Risk/Reward Ratio.
Sell
Condition: the candles are below the Alligator indicator.
1Wait for the Alligator Lip (green line) to cross below the Jaw (blue line).
2. Wait for the Alligator Teeth (red line ) to cross below the Jaw (blue line).
3. Wait for theEntropy math 12 to cross 0.001.
4. Enter a Sell trade at the retracement on the green line.
5. Insert your Stop Loss above the most recent Swing High.
-
Set your Take Profit the same number of pips away from your entry price as your Stop Loss, i.e. a 1:2or greater Risk/Reward Ratio.
In the pictures below Entropy forex indicator with Alligator indicator Trading System in action.
Entropy forex indicator with Alligator indicator Trading System: Indicators and Template
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