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SHI SIGNAL (Alert) Indicator MT4: A Comprehensive Guide

Are you looking for an effective trading tool to enhance your forex strategies? The SHI SIGNAL (Alert) Indicator for MT4 might be just what you need. This custom indicator helps traders by providing clear, easy-to-understand signals based on trend lines, making it perfect for beginners and experts alike.

Key Features

Minimum Deposit:
- Recommended: $500
- For small accounts, starting with $50 is possible, but a higher deposit reduces risk.
Best Time Frames:
- H1 (1 Hour): Provides a balanced trading opportunity, offering a mix of short-term and medium-term trades.
- M15 (15 Minutes): Ideal for day traders looking for quicker signals and fast execution.
Recommended Currency Pairs:
- EUR/USD: Best for trend-following and highly liquid markets.
- GBP/USD: Offers more volatility for larger moves.
- USD/JPY: Perfect for traders looking for steady signals.

SHI SIGNAL (Alert) Indicator

How SHI SIGNAL (Alert) Indicator Works

The SHI SIGNAL Indicator focuses on detecting the major trends in the market, making it easier for traders to spot profitable entry and exit points. Below are some key components of its strategy:

Trendline-based Alerts:
- The indicator uses trendlines to detect changes in market direction, alerting the trader to buy or sell opportunities.
Signal Alerts:
- Once the market crosses key levels, the indicator triggers an alert, helping traders take action on confirmed signals.
Non-repainting:
- Unlike many other indicators, SHI SIGNAL does not repaint, meaning its signals are consistent and reliable over time.

Strategy and Trade Execution

Trend Identification:
- The SHI Signal identifies major upward or downward trends by plotting dynamic support and resistance levels.
Signal Generation:
- As price action moves, the indicator generates an alert when the price hits a trendline, indicating a high-probability trade opportunity.
Entry Point:
- Based on the alerts, you can place buy or sell orders when a trendline break or bounce happens, ensuring you catch momentum at its early stage.
Risk Management:
- The recommended deposit of $100 allows you to follow proper risk management, limiting trades to 1-2% of your account per position.
Exit Strategy:
- Traders can use stop-loss orders just below/above the previous swing points or key support/resistance levels to secure profits.