The Shi Channel Indicator MT5 is a popular and useful free Forex indicator for the MetaTrader 5 trading platform. It is designed to help traders identify trends and potential entry and exit points in the market. The indicator uses a combination of moving averages and the Relative Strength Index (RSI) to identify the trend direction and the strength of the trend. The Shi Channel Indicator MT5 uses two moving averages and the RSI to generate signals. The two moving averages used are the exponential moving average (EMA) and the simple moving average (SMA). The indicator also uses a smoothing factor to reduce the noise of the moving averages. The RSI is used to identify the trend direction and the strength of the trend. The indicator will generate buy and sell signals based on the crossover of the two moving averages and the RSI. If the EMA crosses above the SMA and the RSI is above 50, it generates a buy signal. If the EMA crosses below the SMA and the RSI is below 50, it generates a sell signal. The indicator also provides support and resistance levels, which can be used to identify potential entry and exit points. It is easy to use and can be used in combination with other indicators to help traders make more informed trading decisions.
MT5
SHI Channel
The SHI Channel Indicator MT5 is a popular and free Forex indicator that is useful for traders of all levels. The SHI Channel Indicator MT5 tracks the price movements of currency pairs and displays the price in a channel form. This helps traders to easily identify the trend and make informed decisions about when to enter and exit trades. The SHI Channel Indicator MT5 is a great way to stay ahead of the market and make informed decisions about when to enter and exit trades.
| Trading Style | |
|---|---|
| Indicator Type | |
| Timeframe | |
| Platform |
0
People watching this product now!
Downloads - 47
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
Bollinger Bands
The Bollinger Bands Indicator is a popular and useful Forex indicator for MT4 traders. It is a free indicator that helps traders to identify potential market entry and exit points. This indicator uses a combination of three moving averages to create upper and lower bands that can be used to identify price movements and trends. The bands are adjusted according to the market volatility and can be used to identify overbought and oversold conditions. The indicator is easy to use, and traders can customize the settings to suit their trading style. This indicator is a great tool for any trader looking to gain an edge in the Forex market.
Raff Channel
The Raff Channel Indicator is a useful and popular free Forex indicator for MT4. It is designed to help traders identify and take advantage of trends in the market. The indicator works by plotting two parallel lines on a chart, one above the other. These lines represent the upper and lower boundaries of the current price trend. The Raff Channel Indicator is easy to set up and use, making it a popular choice for traders of all levels.
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.
TMA Centered Bands
The TMA Centered Bands indicator is a powerful forex indicator available for the MT4 platform. This indicator was created for the MT4 platform and helps traders identify trends, support and resistance levels. The TMA Centered Bands indicator works by using a centered TMA (triangular moving average) to create a set of bands around the price. With a simple yet effective design, the TMA Centered Bands indicator is a valuable tool for any forex trader looking to improve their trading strategy.
Reviews
There are no reviews yet.