First of its kind in MQL community: Bitcoin OrderFlow FootPrint chart and Volume Profile on Real Binance Data
26 February 2025, 20:21
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Yes, the volume is based on Real-time Binance Data! Not using the tick volume in MetaTrader brokers, which is kind of "fake".
I would like introduce you to a new tool that I have been working on. The market product link https://www.mql5.com/en/market/product/132579
It is a tool to display Bitcoin OrderFlow FootPrint chart and Volume Profile chart, and the data is based on Real Real-time Binance Data for Bitcoin.
This tool is the first of its kind in the MQL community and it solves following two problems:
1. MetaTrader brokers usually don't have real volume data. The volume data is the number of tick volume. For example, if the price moves 100 times, the volume is 100. This is not an accurate volume data and can hardly reflect the real trading activity.
2. MetaTrader does not have a tool to display OrderFlow FootPrint chart and Volume Profile chart.
Therefore I created this tool to help traders to visualize the real trading activity and make better trading decisions. Binance being the largest and most active exchange, provides the most accurate and reliable data, especially the trading volume in this case. It has both SPOT and Futures data and it is reasonable to assume that the trading activity in Binance leads the market. My tool can stream the real-time data from Binance and display the OrderFlow FootPrint chart and Volume Profile chart in MetaTrader.
OrderFlow is another useful technical analysis tool that can help traders to identify the potential support and resistance levels, and make better trading decisions. OrderFlow is often used together with certain theory (such as Wyckoff's Law) to help traders understand the market and make better trading decisions. It is an important axillary tool for price action.
Below is a screenshot of the OrderFlow FootPrint chart: It draws the numbers on the bar and update in real-time.
There are several range options which determins how dense the numbers are.
We can also check history data in testers mode in the same way.
