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Smart Money Index / Last Hour Indicator


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Smart Money Index / Last Hour Indicator

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 TonyB 
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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

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 wldman 
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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

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

Should work now.

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

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 TonyB 
Bay Area, CA - US
 
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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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Last Updated on February 11, 2013


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