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

MQL4 Experts

Spécifications

  • 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.



Répondu

1
Développeur 1
Évaluation
(362)
Projets
504
40%
Arbitrage
147
18% / 72%
En retard
98
19%
Occupé
2
Développeur 2
Évaluation
(45)
Projets
74
49%
Arbitrage
1
0% / 0%
En retard
1
1%
Travail
3
Développeur 3
Évaluation
(36)
Projets
44
32%
Arbitrage
6
17% / 33%
En retard
8
18%
Travail
4
Développeur 4
Évaluation
(121)
Projets
155
43%
Arbitrage
20
60% / 20%
En retard
8
5%
Travail
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Informations sur le projet

Budget
50+ USD
Pour le développeur
45 USD