Actual COMBO Depth of Market AND Tick Volume Chart
This indicator allows you to enjoy the two most popular products for analyzing request volumes and market deals at a favorable price:
This product combines the power of both indicators and is provided as a single file.
The functionality of Actual COMBO Depth of Market AND Tick Volume Chart is fully identical to the original indicators. You will enjoy the power of these two products combined into the single super-indicator! Below is the functionality you will receive:
Actual Depth of Market Chart
The professional tool of stock traders is now available on MetaTrader 5. Actual Depth of Market Chart indicator visualizes the depth of market in the form of a histogram displayed on a chart, which is refreshed in the real-time mode.
With Actual Depth of Market Chart indicator, you will be able to correctly estimate requests on the market and see big market makers right on the chart. This will allow precise scalping and setting stop orders for positions 100% correctly.
The indicator displays buy and sell requests in the form of horizontal histogram bars of two corresponding colors (buy-sell). Bars are displayed on the price chart and their length corresponds to the volume of requests for the given level. Additionally, it indicates the volume of biggest buy and sell requests.
The indicator displays the total number of buy and sell requests as a stacked area chart. This allows estimating the total volume of requests that will be executed when passing to the next price level. The total volume of buy and sell requests is also displayed on the chart.
On default, the indicator is displayed on the chart background and it does not interfere with any other indicators. When using this indicator for trading, it is recommended to go by real volumes.
This indicator will only work with symbols that have the depth of market available. First of all, it will be interesting for traders on FORTS and other stock markets accessible through MetaTrader 5.
The indicator parameters allow adjusting it to the maximum convenience of use:
- Maximal volume of request (0 - autosize) - maximal volume of a request that corresponds to the bar size. If '0' is specified, the size will be set automatically according to the maximal volume of a request in the depth of market. This parameter allows fixing the histogram scale (default value is 200).
- Size of histogram bar - size of a histogram bar (%). Percentage of the window width that will be occupied by a request of the volume equal to the one set in the first parameter (default value is 20).
- Display the indicator on background - display the indicator on the chart background. Allows drawing the indicator underneath the price chart and other indicators (default value is true).
- Show B/S ratio bar - display B/S rates on the chart.
- Bar height (% of window height) - height of B/S diagram (as percentage of the window height).
Actual Tick Footprint Volume Chart
This new unique indicator Actual Tick Footprint (Volume Chart) is developed for using on Futures markets, and it allows seeing the volume of real deals right when they are performed. The indicator Actual Tick Footprint (Volume Chart) represents a greatly enhanced tick chart that includes additional information about the volume of deal performed at a specific price. In addition, this unique indicator for MetaTrader 5 allows to clearly detecting a deal type – buy or sell.
Similar to the standard tick chart, the indicator draws three lines in the window:
- Bid line.
- Ask line.
- Last line. Circles with digits displayed on it indicate the volume of a deal performed at the given price. The size of circles is proportional to the volume of deals, and the color is for the type of deals. Red circle indicates that a deal has been performed by the Bid price (interpreted as Sell), and green circle indicates that a deal has been performed by the Ask price (interpreted as Buy).
Information provided by this indicator is essential for scalping on Futures markets as it allows detecting many patterns and get information which is not available to ordinary traders. For example:
- Deals with extremely high volume. Further, the price of that deals will probably be a resistance level.
- Deals of what type are performed in a given range - Buy or Sell. It allows estimating a direction of exiting from accumulation.
- Behavior of traders during an impulse and passing a level - whether everybody buys or sells at a sharp change of the price?
- … and many other situations.
The indicator includes the built-in system of filtration, and it displays only new deals that are performed at a changed price or with a greater volume. 1 lot deals are displayed but they don't have captions on the chart; it allows concentrating on main information.
I recommend attaching Actual Tick Footprint (Volume Chart) indicator to М1 or М5 chart and selecting the best scale. It will allow taking optimal decisions when scalping and when searching for an optimal entry to the market on a longer period.
To understand the behavior of participants of the market and to interpret the volumes, I recommend using this indicator together with my other development – the product Actual Depth of Market Chart which displays the market depth histogram.
The parameters of the indicator allow setting up the chart appearance:
- Ticks on chart – number of last displayed deals.
- Scale in pips – height of the vertical scale in points. You should adjust the value considering the current volatility.
- Color volume buy – color of a buy deal marker.
- Color volume sell – color of a sell deal marker.
- Color label – color of a volume caption on a deal marker.
Pay attention to the following features:
- The indicator will not work in the strategy tester, only on a real market. You can see how it works on the video.
- The indicator will work only on the instruments with real volumes of deals available. First of all, it will be interesting for traders on FORTS and other stock markets accessible through MetaTrader 5.
- The indicator displays information only when it is launched. The indicator cannot display information for the time before it was started.