A very interesting tool, I would really appreciate it. Thanks in advance.
Here is the Pine Script code.
// © 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”)
.
