Just a quick question what setting you using for barsforfract
Cheers
Mark
Zero for this setting
Thanks for that just been trying with comparing with set to 0 and 2
cheers
Mark
Great sounding strategy. Will be trialing this out to see how it goes or rather how I go.
Very nice stuff froggy, made me about 200 pips last week…thanks for sharing it.
I just set up a demo acct to try this, anxious to see how I do with longer TFs. The short ones wear me out.
very interesting strategy. i’ll try it. thanks froggy
btw found “SHI channel for history” at SHI_Channel для истории - MQL4 и MetaTrader 4 - Форум алго-трейдеров MQL4
Hi Froggy,
It would seem we could improve on the exit with your system. If we wait until the 5/10 ema’s cross in the opposite direction on the daily chart, more often than not we will give back much, if not all, of the earned profit. Even if we close out our trades when the ema’s cross back on the H4 chart, it appears that we surrender a lot.
Perhaps I’m being short-sighted, and moving the SL120 to break-even after price hits +120 pips allows for far greater profits in the long-run by not truncating our position too early.
Maybe we should simply exit our positions when price meets the SHI channel extremes?
Anyway thanks for sharing your system.
Great trading! 
Bobkat
hi there,
How do you cancel or take off the SHI CHANNEL INDICATOR FROM YOUR CHART?
i tried double click on the line it’s self but nothing seems to get rid of it. please help.
Regards
robert
Hi Robert,
First, delete SHI Channel as an indicator.
Next, go into objects and delete the three lines that comprise the SHI Channel
Good trading,
Bob
hi there,
Thanks for that. i’ve been trading this system with graet succsess. i want to know a few things though. when you look at the daily chart, sometimes it my show you that the trend is sideways or even up but when you go to the 4h time frame it will show down trend. so to which one is the best to refer to? what i tend to do is go to weekly or monthly, zoom out and see exactly where the trend is moving. i hope i’m right.
Another question is to do with the fact that the pair moves out of the channel. how far they can move out of the channel? looking at different pairs, it usually only a few pips away and then they tend to come back. for example: EUR/GBP on the daily it’s out of the channel and is going down trend and on the 4h it’s nearly at it’s pick of the border but going up trend. will at this point i will go short because it will reverse back or will it carry on up?(it’s got another 26pips till the border of the channel)
Regards
Also , anyone can give me another simple and a successful strategy for swing trading
Hi Robert,
My understanding of froggy’s rules is that the ONLY condition we take into consideration on the daily chart is the 5/10 EMA trend direction…nothing else. You don’t need the SHI Channel at all on the daily. The H4 chart SHI Channel and 5/10 EMA’s must be pointing in the same direction as the daily EMA’s, and the price must be above the SHI Channel midline to be a valid entry (for a short trade).
The Shi Channel will reposition itself if price moves very far out of the outside boudaries because the lines are redrawn when the fractals make a significant new high or low. Price often reverses at the boundaries and may be a good place to close your trade and anticipate a change in direction of the trend.
Hope this helps… :22:
Bob
it does help but sometimes i’m still in doubt for example if you look at the moment the usa/ypy are in a down trend and the moving average are apart, wouldn’t you sell? but according to the rules is a buy.
Robert,
If the daily and H4 ema’s are not in synch, there is not a valid trade. The ema’s must be moving in the same trend direction on both charts.
:59:
Hi Froggy!
I’ve also been tinkering around with the Shi_channel for a while now; I think it’s great but I think its true potential lies in finding the ideal indicator to confirm entry points plus the ideal timeframe. If you use shi on the day chart you sometimes miss out on new trends especially when price breaks out beyond the channel. I’ve been thinking about the 1hr chart as the ideal time frame that determines the trend on both shorter & longer timeframes.
P.s. You can now enjoy shi_channel on mt5 as well using the following link:
http://forum.mt5.com/showthread.ph?6908-BollingerBand-SHI_Channel-my-own-strategy/page1
I tried out a couple of trades on the 1 hr and got burned really fast on all of them :-(. Luckily it’s a demo account so I’m headed back to the day chart which has fewer but mostly profitable trades.
This system looks good.Is anybody still using it?
What settings on the SHI Channel indicator? My default is AllBars: 240 and BarsForFract: 0.
default on the channel indicator
Another tip using this channel indicator make the channel into 4 quarters ie currently it has 2 zones ie 1 zone from bottom trend line to the middle dotted line and 2nd zone is from middle zone to top trend line .so draw exact trend lines inbetween bottom zone and top zone so u end up having 4 zones.
Basically if the candle is in zone 1 ie from bottom to top of channel u looking to buy and aim for dotted middle line ie call it cash line and vise versa from top to bottom channel u looking to sell to aim for cash line.
great technique but must trade on 4hr chart only ( all the big boys trades on 4hr charts)