708# Dragon Fire
PTL professional indicator
Submit by Natana 15/09/2016
Dragon Fire is a trend following system for swing trading based on PLT indicator filtered by I-gentor LSMA. This template is very clear, so the trading decisions are simple and immediate without confusion that can result from the use of many indicators (this is my personal opinion).
Time Frame 30 min or higher.
Forex Markets: any.
Metatrader Indicators:
PLT (period 3, 7) This indicator is also multitime frame, you can use with next time frame (for example if time frame is 30 setting the indicator 60 min but this is optional);
I-Gentor LSMA&EMA (34,25, 3).
Trading rules Dragon Fire
Buy
PLT Green Dot confirmed by I-Gentor LSMA&EMA green line and blue line.
Sell
PLT Red Dot confirmed by I-Gentor LSMA&EMA red line and yellow line.
A good way to use this template, is to use the PLT indicator in multi time frames as previously indicated.
Exit position
Exit at the oppsite dot or with time frame predetermided with ratio 1.1 stop loss.
Place stop loss below /above red line of PLT Indicator.
In the pictures Dragon Fire in action.
Share your opinion, can help everyone to understand the forex strategy
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Bart (Friday, 16 September 2016 13:15)
Natana - thank you. I have briefly test-drive your system. I got extremely good results in comparison with my own system. The trend indicator you call I-Gentor is very reliable. Though on 4h chart I had got some issues - with little tweaking it should be fine. In my opinion a slow I-Gentor should be even slower (a dark blue and yellow coloured). Bands may be used to trail the trade. But on balance I would highly recommend this system. The chart looks very clean, not confusing by being overloaded with too many indicators.