BackSHI Channel true Indicator

Indicator SHI_Chanel_true displays Barishpolts’ dynamic sliding channels on the chart in automatic mode. The indicator finds the nearest fractal on the history and then looks for the next one and draws a line between these two points. On the opposite side it draws the parallel line focusing on the maximum fractal. Then the indicator draws the line in the middle between these two lines. Parameters (default parameter’s value in brackets) BarsForFract (0) – The length of the fractal’s leverage Classical fractal consists of 5 bars, extremum and two bars (leverage = 2) at each side. However, there is possibility to decrease the leverage. If the parameter is equal to 0 then the leverage size depends on the time-interval of the chart and is set automatically by the program. The indicator works with all currency pairs and all timeframes beginning with M1.

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Forex Analysis