You'll find many algorithms out there, just their quality depends on the creator of the algorithm, as there are lots of choices to be made by the algorithm designer. Most algorithms I've seen on television, calculate the chance of winning at any given point in the game based on revealed cards. In these cases, the cards of all players are revealed to the algorithm. When building an algorithm that calculates the 'best hand', of course you would need to define what is best to the algorithm. is it best to win the specific game? Is it best to draw out as much money as possible? These instructions will have a massive impact on the results. I think you are looking for a custom algorithm and to build one, you will have to do lots of research and make many calls, in which your experience as a poker player will improve the quality of those assumptions. Poker is a combination of many statistics. However in depth poker also considers the level at which an opponent is considering things, and many more advanced subjects, like playing position, types of flops, and much more.
I think a good algorithm starts with reading a couple of guides, and some proper mathematical education.