Smart Money Add-Ons [TFO]
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.
- Extended maximum bars back to check for divergence
- Added style options for divergence lines
- Added upper, lower, and midlines to opening gaps
- Updated instructions to access private indicators
- Added line style options to HTF Highs & Lows
- Bug fixes with HTF High & Low labels
- Fixed divergence detection logic for inversely correlated assets
- 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
- Bug fix regarding volume imbalances when used with the new POI Dashboard and Overlap features
- Added custom alerts for when POI Overlap conditions are met
- Bug fix regarding opening gap colors
- Revamped with a user-friendly interface and a more cohesive feature set for enhanced usability
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Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact tradeforopp directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.