Summary of 📊Order Book Indicator MetaTrader 5/4 – Download - [TradingFinder]
The video presents the Order Book Indicator available for download on the TradingFinder website, compatible with MetaTrader 4 and MetaTrader 5 platforms. This indicator helps traders analyze market volume and price levels through a visual order book displayed directly on the price chart.
Main Financial Strategies and Features:
- Volume Profile Analysis: The indicator shows total tick volumes at each price level, aiding volume profile traders in understanding market liquidity and activity.
- Color-Coded Volume Representation:
- Green boxes indicate positive tick volume (buy orders).
- Red boxes indicate negative tick volume (sell orders).
- Volume Magnitude Visualization: The size (length) of each volume box extends proportionally with the increase in tick volume, highlighting significant volume spikes at specific price levels.
- Price Level Display: Each volume box contains the exact price level it represents, allowing precise analysis.
Methodology / How to Use:
- Download the indicator file from the TradingFinder website for MetaTrader 4 or 5.
- From the MetaTrader navigator section, drag and drop the indicator onto the chart.
- Adjust settings under the input tab:
- Set the number of columns (default 20, adjustable up to 100 or more) to define how many price levels are displayed.
- Customize colors for buy orders, sell orders, total tick volume, and price level text for better visual clarity.
- Analyze the order book boxes on the chart to identify volume concentrations and potential market movements.
Business Trend:
The video promotes the use of advanced volume and order book indicators integrated into popular trading platforms to enhance technical analysis and decision-making.
Presenters / Sources:
- The tutorial is provided by TradingFinder. No individual presenter names are mentioned.
Category
Business and Finance