SMI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The Smart Money Index (SMI) shows investor sentiment and is based on intraday price patterns.
Most traders (who are emotional and news-sensitive) overreact to the start of the trading day due to nightly news and economic data. Smart, experienced investors start trading after a period of time while having the opportunity to evaluate the market.
This indicator allows you to assess the effectiveness of the market within a few hours of the start of the trading day.
It has two parameters:
This indicator is designed for intraday operations.
Attachment download
📎 smart_money_index.mq5 (9.77 KB)
Source: MQL5 #20380
SMI - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
SMI - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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