3) With THE SWORD (or symbolic representation thereof), etch the DRAGONS EYE symbol onto the ground within the circle. The site is now ready for use. Our emblem is that of an ancient European design, the Dragon's Eye. It is a symbol of protection that will grant us succor against the ongoing evil that seeks to. The Dragon's Eye is an ancient Germanic symbol as collected by Rudolf Koch. The Dragon's Eye is an isosceles triangle pointing downward with a “Y” in the.