According to the trading strategy of B. Williams, described in the book “Trading Chaos 2”, the indicator displays prices on the chart:

1. Bearish and bullish reversal bars:

• The bearish reversal bar is colored red or pink (red is a stronger signal).
• The bullish reversal bar is colored blue or light blue (blue is a stronger signal).

2. The “Angulation” formation with an estimate of the divergence rate.

3. The level of the pending order setting (displayed as a dotted line).

Angulation is formed by the divergence of two lines:

• Price line. Runs along the edges of the bars. The lower edges of the bars in the upward movement and the upper edges of the bars in the downward movement.
• Balance line. It runs along the Alligator’s jaw (blue line).

The formation is formed after the reversal bar is formed outside the Alligator’s mouth.

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The divergence rate is displayed next to the reversal bar. In the settings, there is a filter for the minimum divergence rate. As well as selecting the displayed unit of measurement.

It is possible to choose one of two algorithms for building a balance line:

Simple-the line is drawn from the intersection bar to the point corresponding to the reversal bar (shifted 8 bars forward).

Advanced-the algorithm takes into account the duration of the formed Angulation. When the limit value is reached, the balance line is constructed in such a way that the probability of false Angulation in parallel price movement is minimal.

Startup Settings:

• Max Bars – the number of bars calculated on the chart;
• Set Divergent Bar – settings for reversal bars;
• Show Divergent Bar-display reversal bars for which no Angulation was formed;
• Divergent Bar Alert – use an alert for reversal bars;
• Set Angulation – settings for Angulation;
• Angulation Alert – use an alert for Angulation;
• Comments for missed Divergent Bars-comment on the reason why an Angulation was not formed to the pivot bar;
• Check Awesome Oscillator-check the value of the histogram of the Awesome Oscillator indicator according to the strategy of B. Williams;
• Min duration of Angulation – the set minimum duration of the formation (possible minimum = 2);
• Max duration of Angulation – the set maximum duration of the formation;
• Type of Algorithm – the type of algorithm used to build the balance line;
• Start checking parallel motion-the boundary value of the formation duration only for the Advanced algorithm (see the description);
• Show Speed Differences-display the speed of divergence;
• Show Speed in-select the unit of measurement for the divergence rate pips/bar or pips/h;
• Min Speed-Minimum divergence rate filter;
• Font Size – the font size for displaying the rate of divergence;
• Set Line Color-settings for the color and style of the price and balance line;
• Price Line Color – the color of the price line;
• Balance Line Color – the color of the balance line;
• Style Line – line style;
• Width Line – the thickness of the lines;
• Set Alligator-Alligator indicator parameter settings;
• Jaw Period – the period for the jaw;
• Jaw Shift – shift for the jaw;
• Teeth Period – period for teeth;
• Teeth Shift – shift for teeth;
• Lips Period-Lip period;
• Lips Shift – lip shift;
• MA Method – Averaging method;
• Applied Price – price type;
• Set Order Level – settings for displaying the level of a pending order;
• Show Order Lever-display the level for placing a pending order (the level is set without taking into account the spread);
• Indent Level – indent of the order level from the reversal bar (in points);
• Buy Stop Order Level-color of the “Buy Stop Order” level line”;
• Sell Stop Order Level-color of the “Sell Stop Order” level line”;
• Style Line – line style;
• Width Line – the thickness of the lines.

It is recommended to use it on H4 and more timeframes.

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