Fxoe SHI Channel
From the Old Kings archive: Fxoe SHI Channel, an indicator for MetaTrader 4. As the name suggests, the idea behind it is price channels. It draws arrows on the chart and can send alerts. It has 4 settings, for example Alert Slope Change (default false), Alert Channel Break (default false) and SHIBars (default 240). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Fxoe SHI Channel
Fxoe SHI Channel is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 4 settings, such as Alert slope change, Alert channel break and Shi bars. MQL source code included.
Files in the download: FXOE-SHIChannel.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Alert slope change | false | signal changes in slope |
| Alert channel break | false | signal changes in slope |
| Shi bars | 240 | bars to use to find a channel |
| Bars for fract | 0 |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Channels & Envelopes · Buy/Sell Arrows · Alerts · MT4 Indicator · MQL4 Source Code