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Smart Money Tracking Tools

Attention: Please make sure you check out the YouTube video attached below for a simple & quick tutorial on how to get started now using the sm tracker tools.

Note: I can only include 1 video in the description here, but there are more on my channel so please check those out too - if you click Play and then click the YouTube icon in the bottom right of the video player, it will take you to YouTube where you can see my channel.

These are three separate tools (SM Convictions Bars, SM Consolidation Grid, and SM Hunter Bars) all combined into a single indicator that can be used to track smart money activity based on certain principles:


Principle 1: Smart Money must create conviction in the future direction of the market to persuade retail traders into taking opposing positions.

The "SM Conviction Bars" are based on this principle and give you clues as to the True and False directions of future price.

The wick of the conviction candles shows the high/low range for that particular bar.

The colored boxes are based on price and volume data and suggest the current belief in where price is actually valued for that particular bar.

A False Conviction Box suggests the current direction is a fake out and is good for finding tops/bottoms or false breakouts.

A True Conviction Bar suggests the current direction is real and is good for validating breakouts and true market direction.

A big gap between Conviction Boxes shows a sudden shift in sentiment.

Input Parameters for SM Conviction Bars

  • ShowConvictionBars: true/false (turns conviction bars on/off. Default: true)
  • cBarWidth: 1 (display parameter to choose how wide you want the wicks of the bar to appear. Default: 1)
  • cBarColor: CadetBlue (display parameter to choose what color you want your wicks to be. Default: CadetBlue)
  • ConvictionWidth: 1 (display parameter to choose how wide the conviction box is on each candle. Default: 1)
  • TrueConvictionColor: Blue (display parameter to choose what color the box will be on True Conviction Bars. Default: Blue)
  • FalseConvictionColor: Goldenrod (display parameter to choose what color the box will be on False Conviction Bars. Default: Goldenrod)


Principle 2: Smart Money must accumulate enough positions before trading in their true direction. This is usually when the market chops around going nowhere and is a bad time to be trading. Stop hunts are also known to happen here.

The "SM Consolidation Grid" has been created with that in mind. When price is believed to be in Consolidation mode, this indicator will paint little boxes over price as a warning to not be trading at this time.

Input Parameters for SM Consolidation Grid

  • ShowConsolidationGrid: true/false (turns the grid on/off. Default: true)
  • ZoneBlockWidth: 2 (set how wide you want the Grid to appear. Default: 2)
  • ZoneBlockColor: DimGray (set what color you want the grid to paint. Default: DimGray)
  • ZoneArrowType: 110 (Reference MQL4 WingDings Character guide to choose what kind of Grid to paint. Default: 110)
  • ZoneLength: 9 (Set how much past activity to track in order to determine Consolidation Activity. Default: 9 periods)
  • ZoneBreadth: 5.0 (Set the high/low range of the Grid to determine how much noise to capture. Default: 5.0)


Principle 3: Smart Money must profit from their accumulated positions.

The "SM Hunter Bars" were created to reveal the true direction Smart Money has to go in order to collect their profits.

Note: It is important to watch how price behaves after a Hunter Bar is formed to make sure it is not a fake out bar (a strategy all of its own).

Input Parameters for SM Hunter Bars

  • ShowHunterBars: true/false (turns SM Hunter Bars on/off. Default: true)
  • SensitivityControl: 14 (determines how frequently Hunter Bars Appear. Best to keep it in the 10-21 range. Default: 14)
  • hBarWidth: 3 (display setting to set how wide the Hunter Bar will paint. Default: 3)
  • BullishBar: Lime (display setting to set the colour of a Bullish Hunter Bar. Default: Lime)
  • BearishBar: Red (display setting to set the colour of a Bearish Hunter Bar. Default: Red)

At the end of the day, these are just tools to identify the key three market principles above, and ideas on how to use them.

However, I encourage you to get creative and watch these tools yourself to find your own ideas on how to get the best out of them.

See screenshots for examples of each tool, how it can be used, and how it looks on different timeframes.

REMINDER: The "SM Tracker Tools" includes ALL three of the above and you can choose to turn them on/off as you please.

The DailyOpen Line has been added as an option to the Smart Money Tracker Tools.

Smart Money tends to use this price level as intraday support/resistance or as a magnet for a price, and is often a good area to exit a position.

  • ShowDailyOpen = true (Shows the Daily Open Line on H1 and lower Timeframes);
  • TimeZoneOfDate = 0 (Default 0 for NY Close Charts).

Session Range Boxes have also been added as an option to the SM Tracker Tools.

These boxes are useful in highlighting major sessions throughout the day when smart money is most active. It will also show session highs/lows where smart money sometimes prints false breakout patterns.

  • ShowSessionBoxes = true; (Shows Session Boxes for Tokyo, London, and NY on H1 and lower Timeframes)
  • NumberOfDays = 20; (Select how many previous days to print Session Boxes for - Less is better to preserve system resources, but more is better for visual backtestings)
  • AsiaBegin = 02:00 (Select Asian Session Start Time using your MT4 Server time)
  • AsiaEnd = 08:00 (Select Asian Session End Time using your MT4 Server time)
  • AsiaColor = C'000,021,000' (Select the color you want your Asian Session Box to appear)
  • EurBegin = 10:00 (Select London Session Start Time using your MT4 Server time)
  • EurEnd = 14:00 (Select London Session End Time using your MT4 Server time)
  • EurColor = C'021,000,000' (Select the color you want your London Session Box to appear)
  • USABegin = 15:00 (Select NY Session Start Time using your MT4 Server time)
  • USAEnd = 23:00 (Select NY Session End Time using your MT4 Server time)
  • USAColor = C'000,000,021 (Select the color you want your NY Session Box to appear)
jackhammer42
97
2017.03.22 10:33 
 

User didn't leave any comment to the rating

pokrat
561
2016.12.13 13:46 
 

Hidden gem...great indicator

Miguel Angel Zapata
202
2016.04.14 20:18 
 

Beautiful videos. Matthew outstanding support, but for me the concept of indicator is not clear, since it has an alert to buy or to sell. It is important to make improvements in the time to suggest a market entry, and not leave it to the user. That´s for indicator for , this not suggest on the time to enter to the market. It should be with some algorithm of price action in a game of maximums and minimums, perhaps taking into the concept of double top or double bottom alert.

Version 6.0 - 2016.02.19
Fixed bug in ADR Vertical Line code.
Version 5.0 - 2016.01.25
Added Alerts for SM Hunter Bars (alerts disabled by default).

To enable alerts, go to "SM_Hunter_Bar_Settings" and set "Show_HB_Alerts" to "true".

You can control the rate at which an alert repeats by adjusting the "AlertRepeatSeconds" parameter (default setting is "600" aka 10 minutes).
Version 4.0 - 2015.12.15
Added option to show ADR High and Low Lines on intraday charts.
Default: On
Version 3.0 - 2015.12.02
Added the option to show Session Range Boxes and/or the Daily Open Line.

I have always separately added these indicators to my charts as I find them practically invaluable when combined with the SM Tracker Tool Kit. Now, they are built-in and can easily be turned on/off.
Version 2.0 - 2015.11.26
Made some changes to improve "Accumulation Grid" (now called "Consolidation Grid").