The SHI Channel v2 Stop is a popular and free forex indicator for MT4. It is a useful tool for traders who want to trade the markets with a high degree of accuracy. The indicator helps to identify the current trend and the direction of the market. It also provides support and resistance levels, which can be used to set entry and exit points. The SHI Channel v2 Stop indicator is based on the SHI Channel indicator. It is designed to give traders more precise signals about the direction of the market. The indicator uses a combination of a moving average, a standard deviation, and a price channel to determine the current trend. The price channel is set to the upper and lower standard deviations of the moving average. When the price action moves beyond these levels, it is a signal that the trend is changing. The price channel and the moving average are used to determine the current trend and the direction of the market. This indicator is free and popular among forex traders.
MT4
SHI Channel V2 Stop
The SHI Channel v2 Stop is a popular and free forex indicator for MT4 trading platforms. The Stop version of the SHI Channel v2 indicator will also provide traders with the ability to set stop-loss and take-profit levels. The SHI Channel v2 Stop indicator is a great tool for any trader looking to improve their trading performance.
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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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The Trend Magic Indicator is a popular, free forex MT4 indicator that uses a combination of moving averages and filters to identify the trend direction and potential trade opportunities. The indicator appears as a line that changes color according to the current trend direction. The green color indicates a bullish trend, while the red color indicates a bearish trend. It is simple to use and can be a valuable tool for traders to identify potential entry and exit points in the market.
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