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Trading System for Dragon Pattern - Entry, Stop-loss, and Target Rules

MQL4 Asesores Expertos

Tarea técnica

  • Pattern Identification:

    • Draw a Dragon pattern on the price chart.

    • The Dragon pattern consists of two symmetrical triangles converging into a wedge shape.

    • The pattern typically occurs during a trend reversal.

Draw the dragon pattern as per the fib ratio which is mentioned in the screenshot.

Trading Dragon Pattern

  • Head Formation of "first leg." Hump (must be 0.38 to 0.5 of AB).

  • "Second leg" (can be 0.61 8 to 1.27 of AB).

  • Trend line "breakout" (Long Trigger).

Alert the pattern formed with time and coordinates, target and stop loss.

Draw the entry, stop loss and target lines as shown in image. 

  


  • Bullish Entry Rules:

    • Enter a long position when the price breaks above the upper trendline of the Dragon pattern.

    • And wait, that supertrend is Green.

  • Bearish Entry Rules:

    • Enter a short position when the price breaks below the lower trendline of the Dragon pattern.

    • And wait, that supertrend is Red.

  • Stop-loss Rules:

    • For a bullish trade:

      • Place the stop-loss order below the lower leg of the Dragon pattern.

    • For a bearish trade:

      • Place the stop-loss order above the upper leg of the Dragon pattern.

  • Target Rules:

    • Set the target level based on Fibonacci retracement levels as an input.



Archivos adjuntos:

TXT
c.mql5.com_21_475_Trading_System_for_Dragon_Pattern_-_Entry3_Stop-lossn_and_Target_Rules.txt_d71.txt
1.4 Kb
JPG
942798_983583025040265_7860784293128804926_n.jpg
111.5 Kb

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