• Alligator forex indicator (600,400,250). All lines must be aligned according to the trend. All trades will be taken only in that direction. Two slower lines are proficient in main trend identification. The fastest works very well in helping us avoid trading too long into market turnovers. Modify alligator jaws, lips and teeth to modulate its sensitivity and adjust it to different time frames and currency pairs.
• Bollinger bands (BB period 40, deviation 1). The main signal. We will be looking for price moving outside the tunnel only to close back within with specific volume formation.
• Volumes. Volumes are used as part of VSA (volume spread analysis). In forex they are far from accurate and may vary from broker to broker. Therefore, use trusted forex broker. Anyway, the volumes provide statistical edge in our entry that may add 0,40 USD to profit factor. And that is amazing. Same profitable forex strategies without volumes confirmation are often becoming untradeable.
• Trailing stop (extra deviation 90): Trailing stop is based on Bollinger bands tunnel. Extra distance may be applied. We do not want it to be triggered with next bounce or price spike. It applies for every opened trade universally.
• Max open trades (11 in test): This forex strategy allows opening multiple trades in one direction. When you allow opening more than one trades, strategy requires more margin and is getting more risky.

Rules

SELL

1. All alligator lines aligned according to downtrend. (slowest at the top, fastest at the bottom).
2. We will be looking for price to penetrate upper BB only to close back within the tunnel. This happens on specific volume.
3. Volume of the candle that penetrates the tunnel is low that the volume of previous candle (volumes gets the lower as the price approaches tunnel resistance).
4. Volume on the candle that closes back within the tunnel is higher that the volume of previous candle (Bounce is confirmed by growing activity, this also signalizes no interest in the breakout)
5. We enter on first candle closing within the tunnel.
6. Trailing stop is place according to upper BB and extra distance is applied (90 pips).
7. Trailing stop is the only method of position closing
8. There are no restriction on opening the short trades (if trade exists) other than the user defined MAX open trades.

BUY

1. All alligator lines aligned according to uptrend. (fastest at the top, slowest at the bottom).
2. We will be looking for price to penetrate bottom BB only to close back within the tunnel. This happens on specific volume.
3. Volume of the candle that penetrates the tunnel is lower that the volume of previous candle (volumes gets the lower as the price approaches tunnel support).
4. Volume on the candle that closes back within the tunnel is higher that the volume of previous candle (Bounce is confirmed by growing activity, this also signalizes no interest in the breakout)
5. We enter on first candle closing within the tunnel.
6. Trailing stop is place according to bottom BB and extra distance is applied below (90 pips).
7. Trailing stop is the only method of position closing
8. There are no restriction on opening the long trades (if trade exists) other than the user defined MAX open trades.

Expert advisor is based on transparent and fully tested forex strategy.

Original and transparent MT4 expert advisor. Developed and created by professional FOREX traders at kingsraid.wiki . Tested for profitability on EURUSD data since 2003. Thousands of viable input combinations available for EURUSD alone. Works with any timeframe and any FX pair.

Main features of this expert advisor:

• Tested on high quality data: High accuracy testing on EURUSD data (1H). 100+ Viable inputs combinations for EURUSD pair alone.
• All inputs unlocked: You can adjust and modify your expert inputs. It can be then applied on any time frame and any currency pair. You can modify the settings at will to achieve the best possible results and make the expert suit your needs.
• Transparent expert advisor: No smoke and mirrors. Rules are clearly stated and functionality can be easily verified by manual charting on forward or historical data.
• Works with most of the MT4 Forex brokers: Our expert advisors were adjusted to work with almost any MT4 FOREX broker.
• Works with any time frame: Simply drag and drop the expert on time frames you would like to use.
• Works on any currency pair
• Expert advisor will not draw any indicators in your chart.

Disclaimer and user agreement:

Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.