Yes. Good point. The BMS is part of the battery. The BMS will be on the negative line between the cells and the shunt.As the diagram shows shunt goes on the negative lead and goes to chassis ground or negative bus bar. In the picture My shunt is mounted on the wall then goes to the negative bus bar.
During the battery charging phase the CC is the power source, and when the CCis not charging then the battery is the power source, so based on the diagram, the meter will show the power draw from the battery, but during charging mode the meter may show negative number if it is designed to show for the current flow in both directions, I.E. showing + xxxA duribg charging, and - xxxA during discharging.OK then it's a good thing I asked because I would have thought the charge controller is the power and the battery is the load since the cc is charging the battery.
Off topic, but just to broaden your horizons : The Thornwave Labs PowerMon-5S is a battery monitor smart shunt that also goes on the positive side. Not many choose that, but there are a few.This is the only time I have seen the shunt on the positive side of the circuit.