the_batman

True Williams Alligator (SMMA)

The built-in implementation of the alligator is incorrect. It uses SMA with altered input parameters to approximate the true alligator indicator.

The alligator was created with a supercomputer to model the elliott wave - it's very apart from other MA techniques. The built-in approximation (and similar techniques) and the true alligator yield very different conclusions. Hence the need for this, a true and exact implementation of "The Mighty Alligator" ( Bill Williams , Trading Chaos 1, New Trading Dimensions, Trading Chaos 2).

Note: First script submission. Didn't mean to use this chart. Ugly and messy. Oops.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?
study("True Williams Alligator (SMMA)", overlay=true)
smma(src, length) =>
    smma = na(smma[1]) ? sma(src, length) : (smma[1] * (length - 1) + src) / length
    smma
jawLength = input(13, "Jaw Length")
teethLength = input(8, "Teeth Length")
lipsLength = input(5, "Lips Length")
jawOffset = input(8, "Jaw Offset")
teethOffset = input(5, "Teeth Offset")
lipsOffset = input(3, "Lips Offset")
jaw = smma(hl2, jawLength)
teeth = smma(hl2, teethLength)
lips = smma(hl2, lipsLength)
plot(jaw, "Jaw", blue, offset=jawOffset)
plot(teeth, "Teeth", red, offset=teethOffset)
plot(lips, "Lips", green, offset=lipsOffset)