SHI Channel Pro
- Utilitys
- Thapelo Maqalika
- Version: 1.1
- Aktivierungen: 5
Indicator SHI Channel Pro automatically shows Barishpolotv dynamic moving channels on the chart.
This indicator is looking for the most common (based on time) fractals in history and connects them with the line.
After that, it shows a parallel line and maximum fractal at the opposite structure.
It also makes a median line between those lines.
Parameters:
BarsForFract(0) – lenght of a fractal “shoulder”
The classic fractal consists of five candles – extremes and two candles (“shoulder” = 2) on each side.
Nevertheless, the “shoulder” size can be increased. If this variable is set to zero, the shoulder size is defined according to a current time frame and is preset automatically.
The indicator works on all currency pairs and all timeframes including M1.
Usage:
The indicator is mapping a trend and prints ascending or descending channel on the chart during the price development.
Top and Bottom lines can work as levels for reversal move and can help set a place for your stop-loss and take-profit.
Other Info:
- The Indicator works with all MT4 Platforms.
- MT5 version of this Indicator coming soon.
- Colors are customizable to match template theme.
