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Smart money index
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=52933
Forum: 17 · Topic 52933 · 10 post(s)
Smart money index
Apprentice · Wed Jul 17, 2013 9:12 am
Smart money index (SMI) of smart money flow index is a technical analysis indicator demonstrating investors’ sentiment. The index was invented and popularized by money manager Don Hays. The indicator is based on intra-day price patterns.
The main idea is that the majority of traders (emotional, news-driven) overreact at the beginning of the trading day because of the overnight news and economic data. There is also a lot of buying on market orders and short covering at the opening. Smart, experienced investors start trading closer to the end of the day having the opportunity to evaluate market performance.
Adjust Session Start time accordingly.
Re: Smart money index
Jeffreyvnlk · Fri Jul 19, 2013 6:34 am
Is it for beta ?
Re: Smart money index
Jeffreyvnlk · Fri Jul 19, 2013 6:36 am
oh my bad, sorry. It works great
Re: Smart money index
JDFXUK · Sat Jul 20, 2013 7:48 am
Thanks for this. Would you be able to make the indicator so we can set it to different time frames ?
I note it only has 1 hour chart option ?
Thanks in advance.
Re: Smart money index
Apprentice · Sat Jul 20, 2013 9:30 am
I did not plan this. For this indicator H1 is its intended scope.
Re: Smart money index
Fx4mt.com · Wed Jul 24, 2013 11:47 am
How is the open hour calculated? Default reads 3, is that 3pm? Is this based off the chart’s time zone, the local machine’s timezone, or GMT? I’d appreciate guidance on how to set the open hour. Thanks a bunch
Re: Smart money index
Jeffreyvnlk · Fri Jul 26, 2013 4:21 pm
A Level added please
Re: Smart money index
Apprentice · Sat Jul 27, 2013 3:26 am
Server time is used.
Re: Smart money index
Alexander.Gettinger · Thu Sep 26, 2013 11:39 am
MQL4 version of Smart money index: viewtopic.php?f=38&t=59585.
Re: Smart money index
Apprentice · Sun Feb 11, 2018 5:27 am
The Indicator was revised and updated.