The SHI Channel indicator is a popular and free Forex indicator that is useful for traders of all levels. It is available for the MT4 trading platform and is easy to install and use. The SHI Channel indicator is designed to help traders identify price movements and trends in the Forex market. The indicator uses a combination of support and resistance lines to identify price trends, and it also uses a mid-point line to indicate the current trend. The mid-point line is used to determine whether the current trend is up or down, and it can also be used to identify potential entry and exit points. The support and resistance lines are used to identify areas where the price may reverse and to provide traders with potential areas to place stop losses or take profits. Overall, the SHI Channel indicator is a popular and useful Forex indicator that can be used by traders of all levels.
MT4
Shi Channel
The SHI Channel Forex Indicator is a popular and free MT4 indicator that is useful for traders of all levels. The indicator works by plotting two lines on a chart. The first line is a support line, which is plotted along the lowest points of the chart. The second line is a resistance line, which is plotted along the highest points of the chart. These two lines form a channel that can be used to identify trends in the market. The SHI Channel Indicator is a powerful tool that can be used to help traders make informed decisions and maximize their profits.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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