INVITE-ONLY SCRIPT
Smart Money Add-Ons [TFO]
Updated
Supplementing my “Smart Money Essentials [TFO]” indicator, these add-ons provide some more commonly used “Smart Money Concepts,” including SMT Divergence, and HTF POI, and open price lines for added confluence.
Smart Money Technique (SMT) Divergence is meant to annotate divergence between closely correlated assets. Take ES_F and NQ_F for example (S&P 500 and Nasdaq 100 futures). These two names normally track each other very closely, but if ES_F is steadily rising towards a large institutional level and making higher highs, while NQ_F is approaching a similarly important level and making lower highs on that same timeframe, this would indicate a divergence between the two assets that could foreshadow a “Smart Money Reversal.”
Open price lines can provide intraday levels of interest from important times of day, where the defaults are set to midnight (12:00 AM), 8:30 AM for news releases, and 9:30 AM New York market open (New York local time). The open prices at these times can often act as support and resistance when other confluence factors are present. Higher timeframe points of interest (HTF POI) are also helpful to remain mindful of imbalances and other inefficiencies in which lower timeframe price action may create some reversal structure.
Smart Money Technique (SMT) Divergence is meant to annotate divergence between closely correlated assets. Take ES_F and NQ_F for example (S&P 500 and Nasdaq 100 futures). These two names normally track each other very closely, but if ES_F is steadily rising towards a large institutional level and making higher highs, while NQ_F is approaching a similarly important level and making lower highs on that same timeframe, this would indicate a divergence between the two assets that could foreshadow a “Smart Money Reversal.”
Open price lines can provide intraday levels of interest from important times of day, where the defaults are set to midnight (12:00 AM), 8:30 AM for news releases, and 9:30 AM New York market open (New York local time). The open prices at these times can often act as support and resistance when other confluence factors are present. Higher timeframe points of interest (HTF POI) are also helpful to remain mindful of imbalances and other inefficiencies in which lower timeframe price action may create some reversal structure.
Release Notes
New Day Opening Gaps and New Week Opening Gaps have been added. Also included a new way to display recent imbalances, including ones that have already been mitigated (but may become relevant later on).Release Notes
- Added option to check divergence with inversely correlated assets- Extended maximum bars back to check for divergence
- Added style options for divergence lines
Release Notes
New month opening gaps and display limits for each timeframe's opening gaps (instead of one limit for all)Release Notes
v1.4- Added upper, lower, and midlines to opening gaps
- Updated instructions to access private indicators
Release Notes
v1.4.1- Added line style options to HTF Highs & Lows
- Bug fixes with HTF High & Low labels
Release Notes
- Added SMT Divergence Filters, which will only look for divergence inside HTF imbalances or opening gaps- Fixed divergence detection logic for inversely correlated assets
Release Notes
v1.6.0- Added POI Dashboard to easily tell when price is inside any HTF imbalances or opening gaps
- POI Overlap shows when price is in a specified number of POI at one time
- Force POI Transparency affords the option to remove POI colors for less chart clutter
Release Notes
v1.6.1- Bug fix regarding volume imbalances when used with the new POI Dashboard and Overlap features
Release Notes
v1.6.2- Added custom alerts for when POI Overlap conditions are met
Release Notes
v1.6.3- Bug fix regarding opening gap colors
Release Notes
Updates to Author's Instructions for access. No version changeInvite-only script
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Author's instructions
″Get access here: https://stratalerts.com/tfo/
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