What is NB SHI Channel True?
NB SHI Channel True draws three channel lines around price on an MT5 chart. Separate upper, middle, and lower colors are used, and the channel slope is shown alongside the chart.
The channel is calculated from the selected history and fractal settings. Its lines are reference boundaries rather than a statement that price will reverse or continue.
How to use NB SHI Channel True
Review the channel slope, width, and price position with completed candles and visible swing structure. Compare multiple bars rather than treating a single line touch as a conclusion.
AllBars and BarsForFract control the calculation history, while the remaining Inputs set the three line colors.
Where it helps
AllBars controls the number of bars used by the calculation.
BarsForFract controls the fractal-bar setting.
Upper, middle, and lower lines have separate colors.
MT5 Indicator Parameters
The table below lists the available MT5 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| AllBars | Sets the number of historical bars used for the channel calculation. Default: 240. |
| BarsForFract | Sets the bar setting used for fractal processing. Default: 0. |
| UpChannelColor | Sets the upper channel-line color. Default: Lime. |
| MdChannelColor | Sets the middle channel-line color. Default: Blue. |
| DnChannelColor | Sets the lower channel-line color. Default: Red. |
The screenshot above shows the default input parameters in the MT5 settings window.
How to Install .ex5 Indicator in MetaTrader 5
- Download the ZIP file and extract it.
- In MT5, select File → Open Data Folder.
- Open MQL5 → Indicators and copy the EX5 or MQ5 file into it.
- If the package includes library files, copy them to MQL5 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT5, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
