Unfortunately, among presented lists of the indicators available for wealth-lab.

http://www2.wealth-lab.com/WL5WIKI/AllPages.aspx?Cat=TASCIndicators
http://www2.wealth-lab.com/WL5WIKI/AllPages.aspx?Cat=Standard%20Indicators
http://www2.wealth-lab.com/WL5WIKI/AllPages.aspx?Cat=Community%20Indicators



I didn't found Smart money index.
https://en.wikipedia.org/wiki/Smart_money_index

My question is do I correctly understand that Smart Money Index ( SMI ) doesn't available for wealth-lab in current moment ?

Reminds me of Last Hour Indicator.

Thank you Eugene !

You'll have access to Community Indicators with this indicator after purchasing Wealth-Lab.

Smart Money Index is getting a lot of press lately as predictive in market turns. Any chance of adding it?

The Smart Money Index that’s commonly quoted in financial media is calculated from the Dow Jones Industrial Average. Here’s an example of the indicator’s formula in action.

The Dow goes up 100 points in the first half hour of trading. Hence, the Smart Money Index today = yesterday’s reading MINUS the Dow’s gains.
The Dow goes down 100 points in the first half hour of trading. Hence, the Smart Money Index today = yesterday’s reading PLUS the Dow’s losses.
The Dow goes up 200 points in the last hour of trading. Hence, the Smart Money Index today = yesterday’s reading PLUS the Dow’s gains.
The Dow goes down 200 points in the last hour of trading. Hence, the Smart Money Index today = yesterday’s reading MINUS the Dow’s losses.

There you have it in C.Indicators:

Last Hour Indicator (Smart Money Index)

I've renamed the Wiki page by adding Smart Money Index to make it appear in Wiki searches.

the index as implemented looks more like an oscillator. I believe a more accurate implementation would be

EDITED by Eugene: skipped portions of MS123 code

CODE:
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Thanks for sharing the code George!

Or to rephrase the Wikipedia link above...

CODE:
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...which leads to the same result.

I'll add your version to C.Indicators as SmartMoneyIndex, leaving the LastHour indicator as is (oscillator-like).

P.S. Appreciate not sharing entire code (or other premium content) from protected sources like the Wiki attachments on the forum.

Thanks Eugene. Sorry about the code but I did not get it from Wiki it is posted on the "Last Hour Indicator" thread

Sorry, I stand corrected.

Just to clarify, are we saying ...?

CODE:
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If so, then the only reason to craft a special Smart Money indicator is for execution speed.

Personally, rather than using the Sum() operation, I prefer the EMA() instead for threshold triggering (say to perform a Buy). But that would be a different indicator.

George,

Based on your submission, the Smart Money Index is now part of Community Indicators. Please update the extension to v2018.11 and restart WLP. Thanks.