SHI Channel True Indicator for mt4

Forex SHI Channel True Indicator is a Metatrader 4 (MT4) indicator, and the essence of the fx indicator is to change the accumulated history data. SHI Channel True Indicator can detect various peculiarities and patterns in price dynamics that are not seen by the naked eye. Based on this information, traders can assume further price movement and adjust their strategy accordingly.

SHI Channel True Indicator

With SHI Channel True Indicator, you can get an accurate market reading. It is a tool that tells you what is going on in the market and whether investors are bullish or bearish. The indicator measures investor sentiment from -100 to 100, with zero being neutral. Negative values mean more people are bearish than bullish, while positive values indicate a more bullish view than bearish sentiment. If your indicators show that investors have positive expectations for stocks in general—or at least no negative expectations—then it’s safe to say they’re doing well overall, and you should be investing as well!

Download Free SHI Channel True Indicator for mt4

Forex SHI Channel True Indicator consists of three lines.

SHI Channel True Indicator consists of three lines.

  • The Red Line is called “SHI-Channel,” which should be at least 90% of the time above zero and below -50%. If it is in negative territory for more than five days, it will be displayed as a dash (-).
  • The Green Line with triangles on top (higher highs) and bottom (lower lows) is called the “Trend Line,” which should be above zero most of the time. If it is in negative territory for more than five days, this Line will show as a dash (–). In other words, if you see two or more lives (-), your market might enter a bearish trend phase!
  • The blue Line with arrows pointing up on top (higher prices) or down on the bottom (lower prices) is called the “Support Line,” which acts as the support level for uptrends and the resistance level for downtrends.

PRO SHI Channel True Indicator For Trend Direction Reading

The Red Line is the middle Line, a simple moving average (SMA) of the typical price in period 30.

The Green Line is the upper Line; it’s calculated by adding three standard deviations to the SMA value and then setting it equal to zero. It’s an indicator of volatility and market risk.

The blue Line is the lower Line; it’s calculated by subtracting three standard deviations from the SMA value and then set it equal to zero. It’s an indicator of volatility and market risk tooHow would you 

Do you know how you would happen to HI Channel True Indicator?

To use the tool, you must enter your or the simulator’s data. Then, you will see how SHI Channel True Indicator responds to different scenarios and how it will perform in the future.

If you use that for a specific stock or ETF, click on the “Pair Symbol” button and select your currency pair. For example, USD/JPY or EUR/USD, etc.

You can also select an index from the available indexes, such as Nikkei 225 Index (NKY), FTSE 100 Index (FTSE), etc.

The main objective of this indicator?

This indicator’s main objective is to help traders know when to buy and when to sell.

It also helps provide confirmation signals for the trend direction, which will help determine whether you should enter or exit the market.

The signal line (red) helps us define the price movement direction and signals us for trading opportunities. The signal line is formed by taking the average of the high and low price bars, which are then plotted as a red line on top of a candlestick chart.

When the closing price of one candle is higher than its opening price, it forms a bullish candle because it shows buyers were able to push up costs over time. This means there was buying pressure in an up-trending market. However, when this same trend continues over time without any significant pullbacks or corrections in between, it can lead to overbought conditions, which could cause prices to fall back down again with some force once they start trending lower again.

In contrast, when you have long periods where prices are falling instead of rising, you get bearish candles that look similar but show that sellers were able to push down costs over time, meaning there was selling pressure in a down-trending market.

When the Red Line goes up, the uptrend will be in place. Hence we will be looking for buying opportunities. And vice versa for the downtrend signal.

Our expert analysts provide these signals and are based on technical analysis such as MACD, RSI, SMI, and many others. This makes it possible to accurately predict reversals in a particular direction within seconds or minutes.

SHI Channel True Indicator can help you predict future price movements.

The SHI Channel True Indicator can be used to predict future price movements. This is because it tracks the price trend, a strong indicator of future activities. It uses moving averages and other mathematical models to calculate a general direction based on historical data.

Once you have identified where the price will go in the future, you can use this information to decide when to buy or sell currency pairs based on your strategy. You should also note that this indicator is meant for only some time frames; it may not work with quick-moving markets like stocks or cryptocurrencies because fewer data points are available for analysis at these speeds.

Who Developed SHI Channel True Indicator?

The SHI Channel True Indicator (SCI) was developed to complement the standard SHI. It can be used to measure and monitorability, and its results are more accurate than the SHI. The SCI considers not only market momentum but also price fluctuations and the direction in which they occur.

The basic principle of SCI is that if prices move up or down in one direction for at least three months, there will be an opportunity for trend reversal. A support level indicates buyers are ready to buy when prices drop below it; a resistance level indicates that sellers are prepared to sell when prices rise above it. If the price goes above or below one of these levels on the charts, it may indicate a change in sentiment towards or selling activities.

Channel True Indicator in action

The Channel True Indicator is a bullish signal that can be used when the price of a stock or commodity has reached its upper resistance level and is starting to reverse. The CTI forms a channel along with other indicators (such as MACD), but it acts as an early warning system for when traders should expect the trend to change.

Because this indicator uses exponential moving average calculations, it tends to lag behind current price movements; therefore, most traders will use it only alongside other indicators, such as the MACD histogram. This can help identify periods when CTIs diverge from their stronger counterparts and provide greater clarity on whether or not conditions are changing.

How to use the SHI Channel True Indicator for MT4

The main difference is that the indicator uses a smoothed price as input. This is the main difference between the SHI Channel True indicator and other similar tools.

The smoothed price is not the most recent raw price, but the SHI Channel True indicator’s main difference from calculating how many bars are in between each tick and then adding them up to get an average (e.g., if there were five ticks in between each bar, they would add up to get 25).

This allows you to use this indicator as an oscillator because its output range will be five based on how long your timeframe is set and how many candles you want to represent one period of activity within that timeframe (e.g., if you wish to have one candle = one day’s worth of activity n ten candles = ten days’ worth to of action).

How could you install SHI Channel True Indicator for Metatrader 4?

  • Download SHI Channel True Indicator.mq4 from belotenlink
  • To install the indicator, click on the “File” tab of your Metatrader terminal and click on “Open Data Folder.”
  • Open the folder where you could you open the folder where you have downloaded and unzipped this file?
  • Copy this indicator to the \MQL4\Indicators folder inside your trading terminal directory.

SHI Channel True mt4

Download SHI Channel True Indicator.mq4

Once you have installed the indicator, you need to go into your MT4 client, click on Tools and then navigate down to Indicators.

Here, search for “Custom Indicators” and then click Add.

Once this has been added to your Metatrader Client, you can open up the Technical Analysis Chart to which you would like to add the indicator (it will ask what time frame you could open the folder where you have downloaded and unzipped this file. r for it to appear on itself.

Right-click on SHI Channel True Indicator.mq4

  • Right-click on SHI Channel True Indicator.mq4
  • Copy the code to the clipboard
  • Open Deribit Academy in a browser window and paste the code into a new answer box.

Attach to a chart

  • On the chart, click Attach to a Chart.
  • Select an indicator from the drop-down menu, and then click OK.

Modify settings or press ok

You can modify your channel’s settings or press OK to save the current settings. Pressing OK will close this window and return you to a summary screen.

How to remove SHI Channel True Indicator.mq4 from your Metatrader 4 Chart?

To remove the indicator, you must delete the hand in your Metatrader 4 Chart.


The SHI Channel True Indicator is an excellent tool for traders. It helps you to see if the market is trending or going sideways. So far, the indicator has been tested on three different timeframes: hourly, daily and weekly charts.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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