Ignition problem

[Ricky410]

I have a 93 softail and I'm having an ignition problem. Front cylinder has an intermittent missfire. I brought the front cylinder to tdc to check the timing ( dyna 2000i) and noticed that the red l.e.d. Was not lit up so I loosens the sensor  plate to get the timing right and noticed that the sensor plate was arching to and the red and green led were lighting up as the sensor plate arched. Is my sensor plate bad?