Conversion of Indicator Smart Money Interest Index from TradingView

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04/18/2024 at 10:04 AM #231649 quote

P. Marlowe
Participant

New

A very interesting tool, I would really appreciate it. Thanks in advance.

Link: https://es.tradingview.com/script/oBwmJW5g-Smart-Money-Interest-Index-AlgoAlpha/

Here is the Pine Script code.

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/

// © AlgoAlpha

//@version=5

indicator(“Smart Money Interest Index [AlgoAlpha]”, “AlgoAlpha – 🧠 Smart Money”, explicit_plot_zorder = true)

x = input.int(25, “Index Period”, minval = 1)

rr = input.int(14, “Volume Flow Period”, minval = 1)

peakslen = input.int(500, “Normalization Period”, minval = 1)

thr = input.float(0.9, “High Interes Threshold”, minval = 0.01, maxval = 0.99)

green = input.color(#00ffbb, “Up Color”)

red = input.color(#ff1100, “Down Color”)

dumb = ta.pvi-ta.ema(ta.pvi,255)

smart = ta.nvi-ta.ema(ta.nvi,255)

drsi = ta.rsi(dumb, rr)

srsi = ta.rsi(smart, rr)

r = srsi/drsi //ratio shows if smart money is buying from dumb money selling and vice versa

sums = math.sum(r, x)

peak = ta.highest(sums, peakslen)

index = sums/peak

bottom = plot(0, display = display.none)

top = plot(1, display = display.none)

thresh = plot(thr, display = display.none)

i = plot(index, color = green)

fill(bottom, top, 1, 0, color.new(color.blue, 90), red)

fill(thresh, top, 1, thr, color.new(color.yellow, 90), color.new(color.yellow, 60))

fill(bottom, i, index, 0, green, chart.bg_color)

barcolor(index > thr ? green : na)

///Alerts

alertcondition(ta.crossover(index, thr), “High Smart Money Interest”)

alertcondition(ta.crossunder(index, thr), “Smart Money Interest no longer high”)

04/18/2024 at 5:58 PM #231669 quote
Iván González
Moderator

Legend
Here you have the translation. You need at least 800 bars to calculate the indicator with default values in settings.
```
//---------------------------------------------------------//
//PRC_Smart Money Interest
//version = 0
//18.04.24
//Iván González @ www.prorealcode.com
//Sharing ProRealTime knowledge
//--------------------------------------------------------//
//-----Inputs---------------------------------------------//
x=25//Index Period
rr=14//Volume flow period
peakslen=500//Normalization period
thr=0.9//High interest Threshold
//--------------------------------------------------------//
//-----Smart money and Dumb Money Calculation-------------//
dumb=PositiveVolumeIndex(close)-average[255,1](PositiveVolumeIndex(close))
smart=negativevolumeindex(close)-average[255,1](negativevolumeindex(close))
//--------------------------------------------------------//
//-----RSI Smart money and Dumb Money---------------------//
drsi=rsi[rr](dumb)
srsi=rsi[rr](smart)
//--------------------------------------------------------//
//-----Ratio Smart vs Dumb Money--------------------------//
//Shows if smart money is buying from dumb money selling and vice versa
r=srsi/drsi
sums=summation[x](r)
peak=highest[peakslen](sums)
myindex=sums/peak
//--------------------------------------------------------//
//-----Plot and color-------------------------------------//
btm=0
tp=1
colorbetween(btm,tp,"blue",90)
colorbetween(thr,tp,"yellow",90)
colorbetween(myindex,btm,"lime")

return myindex as "Index"coloured("Green"),btm as "Bottom", tp as "Top"style(line), thr as "Threshold" style(dottedline)
```
04/18/2024 at 6:56 PM #231670 quote

P. Marlowe
Participant

New

Hi Iván. I didn´t hope quite a feat, I’m amazed how fast you did it. I must work on peakslen, it´s a little bit tricky. Thank you so much. You are a hard act to follow.
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P. Marlowe @p-marlowe Participant

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This topic contains 2 replies,
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2 years, 5 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	04/18/2024
Status:	Active
Attachments:	No files