Hello all,
this is my first post. i am a new trader, 3 months. I am using breakthrough of support levels as entry signals. I ran across some info on the "Alligator" indicator in Bill Williams book, Trading Chaos. Does anyone here use this indicator? If so, is it useful?

Thanks, be gentle with me, I'm a newbie!!

It's a solid way to look at things. I prefer using T3 moving averages, but I don't think it's that important. Study how your short-term is stepping in relation to the long-term. If the loss of momentum on the short-term is far from the long-term, then you will usually get a retest of the previous high/low. If the loss of momentum is close, then it's more likely to break the other way. With practice you can take your entries earlier than the break and with better results. Entering early will also make crappy days more tradeable, you will get zilch on your runners, but setting your initial target before the break you can still make some green. Replay Replay Replay.

You can find some code for it here. There is an ela-file you can download and import into Tradestation.

Knowledgebase: Trading Strategies, Indicators, Paint Bars, Functions
Knowledgebase: Trading Strategies, Indicators, Paint Bars, Functions
Knowledgebase: Trading Strategies, Indicators, Paint Bars, Functions

Regards,
ABCTG