Indicator · Pine Script v5 · On the chart

Smart Money Liquidity Heatmap [AlgoAlpha]

by etabebe1· code credited to AlgoAlpha

The Smart Money Liquidity Heatmap indicator identifies potential institutional liquidity zones on the main price chart.

View on GitHub

GitHub stars2on the repository
Pine versionv5runs as is
Lines of code49
Settings6inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago19 Jun 2025

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

49 lines of Pine Script v5 from Smart Money Heat Map/SMHM.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

SMHM.txt
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © AlgoAlpha

//@version=5
indicator(title="Smart Money Liquidity Heatmap [AlgoAlpha]", shorttitle="AlgoAlpha - 🗺️Smart Money Heatmap", overlay = true, max_lines_count = 500, max_boxes_count = 500)

x = input.int(25, "Index Period", minval = 1, group = "Calculation Settings")
rr = input.int(14, "Volume Flow Period", minval = 1, group = "Calculation Settings")
peakslen = input.int(500, "Normalization Period", minval = 1, group = "Calculation Settings")
thr = input.float(0.85, "High Interest Threshold", minval = 0.01, maxval = 0.99, group = "Calculation Settings")

green = input.color(#00ffbb, "Heatmap Colour", group = "Appearance")
baset = input.int(99, "Base Transparency", minval = 1, group = "Appearance")
dumb = ta.pvi-ta.ema(ta.pvi,255)
smart = ta.nvi-ta.ema(ta.nvi,255)
drsi = ta.rsi(dumb, rr)
srsi = ta.rsi(smart, rr)
r = srsi/drsi //ratio shows if smart money is buying from dumb money selling and vice versa
sums = math.sum(r, x)
peak = ta.highest(sums, peakslen)
index = sums/peak

// Calculating
candledir = close > open ? 1 : -1
candlelen = math.abs(close-open)

valleyform = index > thr

max_memory = 90

type bar
    float h = high
    float l = low
    float v = volume
    int   i = bar_index

//-----------------------------------------------------------------------------}
// Variables
//-----------------------------------------------------------------------------{

bar b = bar.new()

var hh = 0.0
var ll = 0.0
var aR = array.new_box()
var aS = array.new_line()

if valleyform
    aR.push(box.new(bar_index,high,bar_index, low, color.new(green, 100), 1, line.style_solid, extend.right, bgcolor = color.new(green, baset)))

Overview

Smart Money Liquidity Heatmap [AlgoAlpha] compares Smart Money Index (derived from NVI) against Dumb Money Index (derived from PVI) relative to their moving averages and RSI values. By calculating the ratio between smart and dumb money volume flows over a normalization period, the script detects high-interest accumulation or distribution areas when the index exceeds a user-defined threshold and highlights them using extended box overlays.

Details

Published by

etabebe1 on GitHub

Code credit

AlgoAlpha, as written in the script's header

Type

Indicator, Pine Script v5

Draws

On the price chart

Category

SMC / ICT / price action, Volume, Support & resistance

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Index Periodint25x
Volume Flow Periodint14rr
Normalization Periodint500peakslen
High Interest Thresholdfloat0.85thr
Heatmap Colourcolor#00ffbbgreen
Base Transparencyint99baset
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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