Market / MetaTrader 5 / Indicators /

DragonsTail Indicator

150 USD

Demo downloaded: 44

Published: 12 June 2023

Current version: 2.10

DragonsTail Indicator

Indicators
Maria Strudov
Maria Strudov
Top manager at RMM Investing Group

Israel

861
5 (1)
RMMIG- a senior expert on investment in real estate markets in Europe and the Middle East.Regular participant in the Middle East Analytical Forum - globalization and investment.
I have been working in the foreign exchange market since 2012 as a private individual.

4 products 3 comments
Version: 2.10
Activations: 5

The "Dragon's Tail" system identifies key market moments referred to as "bull and bear battles". Based on these "battles", the system gives trade direction recommendations. In the case of an arrow appearing on the chart, this signals the possibility of opening two trades in the indicated direction. The yellow and green lines function as take-profit levels for the first and second trades respectively. After closing the first trade upon reaching the yellow line level, it is recommended to set a stop-loss for the second trade at the level of its opening.

The choice of timeframe and tools depends on the trader's preferences, however, for achieving optimal results it is recommended to use the H4 and D1 timeframes, taking into account the spread size of the selected instrument.

The settings parameters of "Dragon's Tail" can be divided into two groups:

Parameters directly affecting trade results:

History depth - only affects the display of entry points on the chart. Recommended values: D1 - 10, H4 - 15, H1 - 20.
Take-profit 1 and take-profit 2 - affect the final result. Recommended values depending on the timeframe: D1 - 250/450, H4 - 150/250, H1 - 75/150.

Parameters responsible for the visual design of the system. These can be set as per the trader's wish.

It's important to remember that "Dragon's Tail" is a system that requires active participation from the trader and cannot operate autonomously. It's crucial to monitor the load on your trading account and make decisions about averaging positions only in cases where it's justified from a market situation and your trading strategy standpoint.

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DragonsTail Indicator

Maria Strudov