Forex SHI Channel True Indicator
Forex SHI Channel True Indicator SHI_Channel_true shows Barishpolts’ dynamic moving channels in the chart in automated mode.
The indicator finds the neares (in terms of time) fractal in history, searches for the next one, and connects them with a line. Then it draws a parallel line on the maximal fractal on the opposite side. Then it draws a midline between these two lines.
Parameters (in brackets – the default value of the parameter):
BarsForFract(0) – Length of the fractal “arm”.
A classical fractal consists of five bars: an extremum and two bars (“arm” is equal to 2) by each side. However, the length of the “arm” can be increased. If the parameter is 0, the length of the “arm” depends on the chart time interval and is determined by the program automatically.
The indicator works on all currency pairs and on all timeframes starting with М1.
What does Forex Indicator mean?
A forex indicator is a statistical tool that currency traders use to make judgements about the direction of a currency pair’s price action. Forex indicators come in many types, including leading indicators, lagging indicators, confirming indicators and so on. Popular forex indicators include moving averages, relative strength index (RSI) and average true range (ATR). A forex trader must choose the indicators that fit his or her trading strategy.
How to install Forex SHI Channel True Indicator?
- Download Forex SHI Channel True Indicator.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex indicator
- Load indicator on your chart
How to uninstall Forex SHI Channel True Indicator?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
