The Better SHI Channel True Indicator for MT5 is a popular and useful tool for forex traders looking to accurately identify support and resistance levels. This indicator is free to use and can be easily integrated into your MT5 trading platform. The SHI Channel True Indicator works by plotting dynamic support and resistance levels based on historic price data. Traders can use these levels to gauge potential entry and exit points for their trades. The indicator also includes customizable settings, such as color and line thickness, allowing traders to tailor it to their specific trading style. To use the Better SHI Channel True Indicator, simply add it to your MT5 chart and adjust the settings to your preference. As price moves within the channel, traders can look for opportunities to buy or sell based on the levels indicated by the indicator.
MT5
Better Shi Channel
Better SHI Channel True Indicator for MT5 is a useful forex indicator that is popular among traders. It is a free tool that helps to identify trends and potential reversal points in the market. The indicator works by drawing channels based on historical price data, making it easy for users to spot support and resistance levels. Traders can use the indicator to make informed trading decisions.
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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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