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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.

Is it for beta ?

oh my bad, sorry. It works great

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.

I did not plan this.
For this indicator H1 is its intended scope.

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

A Level added please

Server time is used.

MQL4 version of Smart money index: viewtopic.php?f=38&t=59585.

The Indicator was revised and updated.