Syntax
public LastHour(Bars bars, string description)
public static LastHour Series(Bars bars)Parameter Description
Description
According to Rennie Yang, the "Last Hour Indicator" has a good record of tracking "smart money".
The formula is (today's close – today's 3pm price) – (today's 10:30am price – Yesterday's close).
Warning: these numbers are hard-coded into the indicator.
The premise of the indicator is that the smart money trades late in the day, so you can discern what they're up to by comparing the market's performance in the first and last hour of each day and charting that on a cumulative basis.
Interpretation
Please refer to the
Wikipedia article for Smart money index.
Example
No example currently available.