diff --git a/python/src/com/jetbrains/python/console/parsing/PyConsoleParsingContext.java b/python/src/com/jetbrains/python/console/parsing/PyConsoleParsingContext.java
index 78c9d24052d4..4a592836b393 100644
--- a/python/src/com/jetbrains/python/console/parsing/PyConsoleParsingContext.java
+++ b/python/src/com/jetbrains/python/console/parsing/PyConsoleParsingContext.java
@@ -62,7 +62,7 @@ public class PyConsoleParsingContext extends ParsingContext {
       if (parseIPythonHelp()) {
         return;
       }
-      if (myStartsWithIPythonSymbol) {
+      if (shouldParseIPythonCommand()) {
         parseIPythonCommand();
       }
       else {
@@ -95,8 +95,8 @@ public class PyConsoleParsingContext extends ParsingContext {
       if (myBuilder.getTokenType() == PyConsoleTokenTypes.QUESTION_MARK) {
         myBuilder.advanceLexer();
         if (myBuilder.getTokenType() == PyTokenTypes.STATEMENT_BREAK || myBuilder.eof()) {
-          ipythonHelp.done(PyElementTypes.EMPTY_EXPRESSION);
           myBuilder.advanceLexer();
+          ipythonHelp.done(PyElementTypes.EMPTY_EXPRESSION);
           return true;
         }
       }
@@ -136,9 +136,17 @@ public class PyConsoleParsingContext extends ParsingContext {
       return true;
     }
 
+    protected boolean shouldParseIPythonCommand() {
+      return myStartsWithIPythonSymbol;
+    }
+
+    protected boolean continueParseIPythonCommand() {
+      return !myBuilder.eof();
+    }
+
     private void parseIPythonCommand() {
       PsiBuilder.Marker ipythonCommand = myBuilder.mark();
-      while (!myBuilder.eof()) {
+      while (continueParseIPythonCommand()) {
         myBuilder.advanceLexer();
       }
       ipythonCommand.done(PyElementTypes.EMPTY_EXPRESSION);
diff --git a/python/src/com/jetbrains/python/console/parsing/PyConsoleTokenTypes.java b/python/src/com/jetbrains/python/console/parsing/PyConsoleTokenTypes.java
index 9af8b479fd97..7e8cbb6db8b4 100644
--- a/python/src/com/jetbrains/python/console/parsing/PyConsoleTokenTypes.java
+++ b/python/src/com/jetbrains/python/console/parsing/PyConsoleTokenTypes.java
@@ -23,6 +23,7 @@ import com.jetbrains.python.psi.PyElementType;
 public class PyConsoleTokenTypes {
   public static final PyElementType QUESTION_MARK = new PyElementType("QUESTION_MARK"); //?
   public static final PyElementType PLING = new PyElementType("PLING"); //!
+  public static final PyElementType DOLLAR = new PyElementType("DOLLAR"); //$
 
   private PyConsoleTokenTypes() {
   }
diff --git a/python/src/com/jetbrains/python/console/parsing/PythonConsoleLexer.java b/python/src/com/jetbrains/python/console/parsing/PythonConsoleLexer.java
index 7269945afc0d..65effc067edb 100644
--- a/python/src/com/jetbrains/python/console/parsing/PythonConsoleLexer.java
+++ b/python/src/com/jetbrains/python/console/parsing/PythonConsoleLexer.java
@@ -27,13 +27,16 @@ import java.util.Map;
  * @author traff
  */
 public class PythonConsoleLexer extends PythonIndentingLexer {
-  private final static Map<String, PyElementType> SPECIAL_IPYTHON_SYMBOLS = ImmutableMap.of("?", PyConsoleTokenTypes
-    .QUESTION_MARK, "!", PyConsoleTokenTypes.PLING);
+  private final static Map<String, PyElementType> SPECIAL_IPYTHON_SYMBOLS = ImmutableMap.of(
+    "?", PyConsoleTokenTypes.QUESTION_MARK,
+    "!", PyConsoleTokenTypes.PLING,
+    "$", PyConsoleTokenTypes.DOLLAR
+  );
 
-  @Override
   /**
    * Treats special symbols used in IPython console
    */
+  @Override
   public IElementType getTokenType() {
     IElementType type = super.getTokenType();
     if (type == PyTokenTypes.BAD_CHARACTER && isSpecialSymbols(getTokenText())) {
diff --git a/python/src/com/jetbrains/python/highlighting/PySyntaxHighlighterFactory.java b/python/src/com/jetbrains/python/highlighting/PySyntaxHighlighterFactory.java
index 0d80d8a5f0e7..e3abd93c574b 100644
--- a/python/src/com/jetbrains/python/highlighting/PySyntaxHighlighterFactory.java
+++ b/python/src/com/jetbrains/python/highlighting/PySyntaxHighlighterFactory.java
@@ -35,15 +35,22 @@ public class PySyntaxHighlighterFactory extends SyntaxHighlighterFactory {
   @Override
   @NotNull
   public SyntaxHighlighter getSyntaxHighlighter(@Nullable final Project project, @Nullable final VirtualFile virtualFile) {
-    final LanguageLevel level = project != null && virtualFile != null ?
-                                PyUtil.getLanguageLevelForVirtualFile(project, virtualFile) :
-                                LanguageLevel.getDefault();
+    final LanguageLevel level = getLanguageLevel(project, virtualFile);
     if (useConsoleLexer(project, virtualFile)) {
       return myConsoleMap.get(level);
     }
     return getSyntaxHighlighterForLanguageLevel(level);
   }
 
+  /**
+   * Returns a syntax highlighter for Python console.
+   */
+  @NotNull
+  public SyntaxHighlighter getConsoleSyntaxHighlighter(@Nullable final Project project, @Nullable final VirtualFile virtualFile) {
+    final LanguageLevel level = getLanguageLevel(project, virtualFile);
+    return myConsoleMap.get(level);
+  }
+
   /**
    * Returns a syntax highlighter targeting the specified version of Python.
    */
@@ -52,6 +59,13 @@ public class PySyntaxHighlighterFactory extends SyntaxHighlighterFactory {
     return myMap.get(level);
   }
 
+  @NotNull
+  private static LanguageLevel getLanguageLevel(@Nullable final Project project, @Nullable final VirtualFile virtualFile) {
+    return project != null && virtualFile != null ?
+           PyUtil.getLanguageLevelForVirtualFile(project, virtualFile) :
+           LanguageLevel.getDefault();
+  }
+
   private static boolean useConsoleLexer(@Nullable final Project project, @Nullable final VirtualFile virtualFile) {
     if (virtualFile == null || project == null || virtualFile instanceof VirtualFileWindow) {
       return false;
diff --git a/python/testData/console/ipython/psi/magicMultiline.txt b/python/testData/console/ipython/psi/magicMultiline.txt
index 0d36d47727c9..3f7d8a56364c 100644
--- a/python/testData/console/ipython/psi/magicMultiline.txt
+++ b/python/testData/console/ipython/psi/magicMultiline.txt
@@ -8,7 +8,7 @@ PyFile:magicMultiline.py
     PsiWhiteSpace(' ')
     PsiElement(Py:SINGLE_QUOTED_STRING)('"My shell is:"')
     PsiWhiteSpace(' ')
-    PsiElement(BAD_CHARACTER)('$')
+    PsiElement(Py:DOLLAR)('$')
     PsiElement(Py:IDENTIFIER)('SHELL')
     PsiWhiteSpace('\n')
     PsiElement(Py:IDENTIFIER)('echo')
diff --git a/python/testData/console/ipython/psi/shellExpansion.txt b/python/testData/console/ipython/psi/shellExpansion.txt
index 7254faacfae1..ef5a962c82b0 100644
--- a/python/testData/console/ipython/psi/shellExpansion.txt
+++ b/python/testData/console/ipython/psi/shellExpansion.txt
@@ -3,7 +3,7 @@ PyFile:shellExpansion.py
     PsiElement(Py:PLING)('!')
     PsiElement(Py:IDENTIFIER)('mv')
     PsiWhiteSpace(' ')
-    PsiElement(BAD_CHARACTER)('$')
+    PsiElement(Py:DOLLAR)('$')
     PsiElement(Py:IDENTIFIER)('file')
     PsiWhiteSpace(' ')
     PsiElement(Py:LBRACE)('{')