The Gator oscillator indicator as evident from the name is based on the Alligator indicator and is used to plot the convergence and divergences of the smoothed moving averages of the Alligator indicator.
The Gator oscillator simply measures the differences between the Jaws, Teeth and the Lips and is measured as the Smoothed moving average of the median price of 13 and 8 periods for the jaws, the smoothed moving average of the median price of the 8 and 5 periods plotting the teeth and the smoothed moving average of the median price of the 5 and 8 periods for the lips. The settings for the Gator oscillator can be configured and is defaulted to the same configuration as that of the Alligator oscillator.
The Gator oscillator is ideally used in conjunction with the Alligator indicator (including the Fractals) in order to create a complete trading system based on Bill Williams’ indicators. The gator oscillator is especially useful when the markets are strongly moving in a direction (or trend) as it signals the start as well as the end of the trends (similar to the Alligator indicator). The concept of trading with the Gator oscillator is just as similar to the Alligator indicator which is based on the opening and closing jaws of the alligator, only represented in a histogram format with the gator oscillator.
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