The SHI Channel Mod Indicator is a popular and useful tool for forex traders using MT4. This free indicator helps traders identify trend direction and potential reversal points by displaying support and resistance levels on the chart. The indicator works by calculating the high and low prices over a specified period and then plots two lines above and below the price chart, creating a channel. Traders can use these channel lines to guide their entry and exit points, as well as to set stop-loss and take-profit levels. To use the SHI Channel Mod Indicator effectively, traders should look for price action around the channel lines, such as price bouncing off the support or resistance levels. Additionally, traders can look for breaks above or below the channel to signal potential trend reversals. Overall, the SHI Channel Mod Indicator is a valuable tool for forex traders looking to improve their trading strategies.
MT4
SHI Channel Mod
The SHI Channel Mod Indicator is a useful tool for forex traders using MetaTrader 4 (MT4). This popular and free indicator helps traders identify trend direction and potential reversal points. It works by displaying two trend lines on the chart, making it easy to spot potential buying and selling opportunities. Traders can use this indicator to make informed trading decisions.
| Indicator Type | |
|---|---|
| Trading Style | , |
| Timeframe | , |
| Platform |
0
People watching this product now!
Downloads - 5
Description
Reviews (0)
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.
Related products
Polynomial Regression Channel
The Polynomial Regression Channel Indicator is a useful and popular free Forex indicator for MT4 (MetaTrader 4) that helps traders to identify trends and potential entry and exit points. It works by creating a channel around the price movements of an asset, which is determined by the polynomial regression line. The indicator then plots lines above and below the regression line to form the channel. With the Polynomial Regression Channel Indicator, traders can easily identify trends and potential entry and exit points, making it a popular and useful free Forex indicator for MT4.
Envelopes Indicator
The Envelopes Indicator is a popular and useful tool for Forex traders. It is free to use and available for MT4 platforms. The indicator helps traders identify potential buy and sell signals in the market by plotting two bands around the price action. The bands are calculated by taking a moving average of the price and then adding and subtracting a percentage of that average. The Envelopes Indicator is a great tool for Forex traders looking for an easy way to identify potential trading opportunities.
TMA+CG Indicator
The TMACG Indicator is a popular and free Forex indicator for the MT4 trading platform. The indicator works by analyzing price action and momentum, and then displaying potential buy and sell signals on the chart. The TMACG Indicator is a great tool for traders looking to take advantage of the Forex market's potential for profit.
WATR Indicator
The WATR forex indicator is a popular and free MT4 indicator used by many traders. It can be used to identify trends, support and resistance levels, and other market conditions. It also offers a variety of features such as customizable alert settings, trend lines, and a wide range of indicators. It is also useful for scalping and day trading. The indicator is free to use and is popular among traders due to its accuracy and reliability.
Daily HL
The Daily High Low Indicator is a popular and free Forex indicator for MT4 platform. This useful tool provides traders with a clear view of the daily high and low prices of the currency pair they are trading. The indicator is easy to install and use, and it can be used on any currency pair. It is also highly customizable, allowing traders to adjust the display of the indicator to their own preferences. The indicator provides an accurate view of the daily high and low prices, allowing traders to determine the best entry and exit points for their trades.
Bollinger Bands Bicolor
The Bollinger Bands Bicolor Indicator is a popular and free Forex indicator for the MT4 platform. This useful indicator is used to identify potential reversals and breakouts in the Forex market. It works by plotting two different Bollinger Bands, one in a red color and one in a blue color, on the same chart. The red band indicates a potential bearish reversal, while the blue band indicates a potential bullish reversal. By using the Bollinger Bands Bicolor Indicator, traders can easily identify potential entry and exit points in the Forex market.
Reviews
There are no reviews yet.