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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