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Smart money index

PostPosted: Wed Jul 17, 2013 9:12 am
by Apprentice
Smart Money Index.png

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.
Smart Money Index.lua
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Re: Smart money index

PostPosted: Fri Jul 19, 2013 6:34 am
by Jeffreyvnlk
Is it for beta ?

Re: Smart money index

PostPosted: Fri Jul 19, 2013 6:36 am
by Jeffreyvnlk
oh my bad, sorry. It works great

Re: Smart money index

PostPosted: Sat Jul 20, 2013 7:48 am
by JDFXUK
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

PostPosted: Sat Jul 20, 2013 9:30 am
by Apprentice
I did not plan this.
For this indicator H1 is its intended scope.

Re: Smart money index

PostPosted: Wed Jul 24, 2013 11:47 am
by Fx4mt.com
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

PostPosted: Fri Jul 26, 2013 4:21 pm
by Jeffreyvnlk
A Level added please

Re: Smart money index

PostPosted: Sat Jul 27, 2013 3:26 am
by Apprentice
Server time is used.

Re: Smart money index

PostPosted: Thu Sep 26, 2013 11:39 am
by Alexander.Gettinger
MQL4 version of Smart money index: viewtopic.php?f=38&t=59585.

Re: Smart money index

PostPosted: Sun Feb 11, 2018 5:27 am
by Apprentice
The Indicator was revised and updated.