4.13/5 (382 votes)

The SHI Channel indicator uses the highest high and lowest low of the price to determine the upper and lower bands of the channel. The channel is calculated according to the given period of calculation and the time frame of the used chart, and the channel is self-adjusted (Like the Bollinger Bands). The channel gives the overall direction of the price movement - up or down - and may change from time to time, especially if it used with a low timeframe of one minute and five minute. We can’t trade with the SHI Channel indicator alone, it will not tell you when to enter the trade neither when to exit, The SHI Channel indicator telling you the overall direction of the price trend and the channels with the middle line warn you how much the trend is strong or weak, however, we have to use another indicators to generate the entry/exit signals