SHI_Channel indicator

SHI channel indicator MT4

SHI channel indicator MT4  is a custom technical indicator which automatically plots a channel based on price action swings. The SHI Channel has three lines. The upper lines act as resistance, while the low line is the support.

tag: SHI

Category: MT4 Indicators

Platform: Metatrader 4

Download link: At the end of the post.


Identifying the correct trendlines and channels allow traders to anticipate the direction of price, as well as the area where it could reverse.

The SHI Channel  Indicator is a tool which simplifies this process as it automatically identifies trendlines and channels. It plots three lines which form a channel like structure. The top line is the resistance line of the channel and the bottom line is the support line. Its middle line is basically the median of the support and resistance line of the channel.

SHI channel indicator MT4 can be used alone or in combination with other indicators to form a trading system.

How to use

The shi channels are a great addition for channel traders.

The SHI Channel has three lines. The upper lines act as resistance, while the low line is the support. The upper line is formed by connecting the swing high, while the lower lines connect the swing low. The center line is the median of the two lines. Simply open a buy order when the price touches the support line and short the position when the price touches the resistance line.


SHI_Channel indicator

Default setting

SHI_Channel indicator mt4

Download SHI channel indicator MT4

Download Here

How To Install Custom MT4 Indicators On Mt4 (6 Simple Steps)

Step 1: Download The Indicator To Your Computer. Unzip (if any) to get .mq4 and/or .ex4 file

Step 2: Go To Your Mt4 Trading Platform And Click “Open Data Folder”

Step 3: Click open the “MQL4” folder

Step 4: Click Open the “Indicators” Folder

Step 5: Paste The Custom MT4 Indicator Into The “Indicators” Folder

Step 6: Close Your MT4 Trading Platform And Then Restart It

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