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MT5 depth of market indicator?

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clerin6
44
clerin6 2012.04.18 18:15 

Hi,

Does anyone know of an indicator which makes use of the MT5 market depth info to show a ratio of the relative size and direction of positions?

I'm barely competent with mq4, and I took a look at the market book commands but I couldn't make head nor tails of it - so I've no hope of making one myself! I looked around in vain. Is it too early for people to have made this sort of thing for MT5 yet?

If you want to see an example of market depth quotes in MT5 you can simply take out an MT5 demo account with Alpari, because they have just started offering MT5. The demo account is free and on their site somewhere.

(I won't link to the page, because I don't want to plug any particular broker. I just don't know of any other broker offering a free demo version of MT5 with DOM.)

Unfortunately, the quotes are in a rather un-intuitive presentation. Added to the fact that they update all 10 figures just about every second, it can be almost impossible to make use of the info fast enough simply using MK.1 eyeball.

I am aware of the limitations of DOM, in terms of receiving only the volume data from your specific broker and the short term scope. However, it would still be useful for sentiment and scalping.

There must be a way to write an indicator to plot a simple chart, or even to present the ratio of the relative size and direction of positions, right? Otherwise the info is pretty useless as a trading signal...

Has anyone found/made such an indicator yet?

Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Account Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Environment State / Account Properties - Documentation on MQL5
Jaiwant
5
Jaiwant 2015.04.13 16:34  

Hi, I have installed MT5 for the first time, but I am not able to see the volume of bid price and ask price in the Depth of Market window. How can I enable it?

 Thanks 

Alain Verleyen
Moderator
30755
Alain Verleyen 2015.04.16 21:53  
Jaiwant:

Hi, I have installed MT5 for the first time, but I am not able to see the volume of bid price and ask price in the Depth of Market window. How can I enable it?

 Thanks 

Which broker and symbols ? The Depth of Market  is only enabled by some brokers and/or some symbols.
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