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Smart Money Index / Last Hour Indicator
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Smart Money Index / Last Hour Indicator

 
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
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TonyB's Avatar
 
Posts: 514 since Dec 2010
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Smart Money Index / Last Hour Indicator

Anyone create this in MC?

It looks at only the beginning and end of the regular session, usually 30 or 60 minutes. The thinking is that the smart money is active at the end of the session...

The calculation is:

Today's SMI reading = yesterday's SMI – opening gain or loss (after 1 hour) + last hour delta.

Here's a bit more on it:

http://www.sentimentrader.com/subscriber/smart_money_index_description.htm

If someone already has this coded in EL and wouldn't mind sharing, I'd be most appreciative. Thank you. Tony


Last edited by TonyB; February 11th, 2013 at 07:52 PM.
 
 
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Market Wizard
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Page not found...


I've been looking for something called Smart Money Index as found on Wave59. I'd be interested if this idea you have is similar. DB

 
 
Go Bears!
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My apologies. In my haste, I didn't copy the link in its entirety...

Should work now.

 
 
Market Wizard
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Thanks

for fixing that link. This is not similar to what I know as smart money index.

 
 
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
Platform: TOS, TS & MC
Broker/Data: TDA & TS
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TonyB's Avatar
 
Posts: 514 since Dec 2010
Thanks: 227 given, 135 received


wldman View Post
for fixing that link. This is not similar to what I know as smart money index.

How is the smart $ indicator / index you are familiar with defined, or computed?


 



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