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Gator Oscillator

The Gator Oscillator shows the degree of convergence / divergence of the Balance Lines (pic.1). In order to build the Gator Oscillator in MetaTrader 4 follow the “Insert -> Indicators -> Bill Williams - Gator Oscillator” menu sequence.
Picture 1. How to build Gator oscillator in MetaTrader 4
The Gator Oscillator is displayed as two histograms: the histogram above zero shows the distance between the blue and the red lines (Alligator's jaw and teeth); the histogram below zero shows the distance between the red and the green lines (between the Alligator's teeth and lips). All the bars of each histogram are either green or red: histogram bar is red if it is lower than the preceding one; histogram bar is green if it is higher than the preceding one. The Gator Oscillator clearly shows convergence and intertwining of the Balance Lines when the Alligator is asleep or awake thus helps identify a trend.