Smart Money Index / Last Hour Indicator

February 11th, 2013, 05:16 PM

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:

https://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

February 11th, 2013, 07:03 PM

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

February 11th, 2013, 07:53 PM

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

Should work now.

February 11th, 2013, 07:58 PM

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

February 11th, 2013, 08:22 PM

wldman

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?

Smart Money Index / Last Hour Indicator

Discussion in EasyLanguage Programming

Smart Money Index / Last Hour Indicator