20/04/ · What is A book vs B book in Forex trading? 30 replies. A book forex brokers VS B book brokers, differences? 12 replies. MT4 Order Pending Order/Order Modify Issue 1 reply. How does order book scalping work? 16 replies. Oanda Order Book 13 replies 27/10/ · The OandaX OrderBook Chart indicator is designed for displaying the history histogram of orders or positions history on the instrument with reference to the chart scale. - Free download of the 'OandaX OrderBook Chart' indicator by 'trend_lab' for MetaTrader 4 in the MQL5 Code Base, /5(41) FxGhani Order Book MT4 Free Indicator. Hey Guys Today we are going to share another good indicator for you. ��it show live orders on a particular price blogger.comted Reading Time: 1 min
A New Order Flow Indicator You Can Use On MT4
Good order flow indicators for MT4 are really hard to come by these days. This is about to change though, forex order book indicator mt4, because at the weekend a friend of mine sent me an email containing a new indicator he had created after seeing the article about order flow indicators I published last week.
This not only makes it much easier to find where stop hunts are likely going to take place, but also makes it simpler to find out where supply and demand zones created by traders trapped in losing trades have formed. Before we start I must say the order flow indicator in this article is not free to download. If you happen to run into any issues with the indicator itself, contact my friend using this form here.
As is the case when installing all custom indicators, the first step to installing the order flow indicator is to open up the Data folder found under the File tab on MT4. When the Data folder opens, click on the folder inside labelled MQL4, you should see a list of additional folders appear.
You now need to place the files which came with the indicator into the following folders. With the indicator now installed, the next thing to do is configure the settings so that it displays the right information on the chart. When you select the Order Book indicator from the custom indicators tab, the box above should appear. Selecting this option forex order book indicator mt4 the indicator permission to use the data from Oanda to show the open orders and positions on your chart.
If you do not select this option the indicator will not display on your charts, forex order book indicator mt4. The Inputs tab contains the settings which allow you to change the information the order flow indicator shows and how this information is displayed on the charts. Most of the settings you can change here are pretty self-explanatory, but there are a few which I need to explain in more detail, as it can be tricky to work out what they do when you first open up the indicator.
The first setting I need to explain is called Base Period Offset. This setting allows you to change where the indicator displays on the chart.
For example, if you load the indicator without changing any of the settings it will look like this:. The Base Period Offset setting allows you to change this, and move the indicator so that it sites right at the edge instead of being a little bit away from it.
You can see that now the indicator sits right at the edge of the chart next to where forex order book indicator mt4 prices are shown, instead of being placed more towards the center as it was in forex order book indicator mt4 previous image.
Now the second setting you need to understand is labelled Source, and can be found close to the top of the Inputs tab. The source setting allows you to change what information the order flow indicator displays on the chart. If you select Source Open Positions, it will overly the Open Positions data from Oanda on the chart, and if you forex order book indicator mt4 Source Open Orders, it will show you what the Open Orders are.
This is an option which allows you to set the order flow indicator so that it only shows you what the open orders or open positions are over a certain percentage, which you can see right at the top of the indicator. You can see that the only open positions the indicator now displays are those which are over 0.
Being able to change what percentage of open orders or positions the indicator shows, makes it easier to trade certain order flow strategies like stop hunts. Because the stop hunts you want to be trading are the ones which occur on the forex order book indicator mt4 that have accumulated over 0.
Two more settings which need explaining are the Emphasis Large Clusters and Emphasis Percentage variables. These two settings will make it much easier for you to see where forex order book indicator mt4 large amount of open orders or positions have been placed in the market.
You can see that lines have now been marked through all the open order bars which are over 0. The last setting which needs mentioning is called Notify Upon Hit. This setting allows you to set the indicator so that it notifies you when the market has encountered a certain percentage of orders or positions which have built up at a price level. You can also use the Zone Hit Minimum Percentage option to set it so that it only notifies you when the market has hit a number of stops or positions over a certain percentage.
The graphs themselves are split into four quadrants, and each quadrant gives you different information about the orders or positions that have been placed at the prices contained inside the quadrant. The buy orders contained in the top left quadrant are the stop losses placed by traders who have sell trades open, whilst the sell orders you can see in the bottom right quadrant are the sell stop orders placed by traders with open buy trades.
The normal buy orders which you can see to the left of the sell stop orders are a mixture of take profit orders and normal orders which execute buy trades upon being reached, and the sell orders seen next to the buy stop orders are a mix of take profit orders and orders to place sell trades when reached.
The buy trades which traders are currently holding open at a loss are found in the top left quadrant, with the buy trades being held open at a profit being found in forex order book indicator mt4 bottom right.
The sell trades which people have got open at a profit are located in the top right quadrant next to the traders who are holding trades open at a loss, and the sell trades traders have got open at a loss are found in the bottom left. If you have any questions about the indicator or would like any more help using it, please let me know in the comment section below. To all, If you got any questions or issues after you bought the indicator, forex order book indicator mt4, please forward them to mql hotmail.
This indicator is not working because my country block oanda very silly thing and Phil the developer of this indicator has kind attention and very helpful to solve the problem it is not about the indicator but my silly government,????????????
Hello it is good indicatorbut we need more explaining about the settingswhat is the best settings to get the same information on oanda and best screen display settingoffset setting,.
I am confused with the explanation of Open Orders top left and bottom right. Title of them is straightforward Buy Stop Orders and Sell Stop Orders. No problem. My confusion comes with explanations of those quadrants written below the graph, forex order book indicator mt4.
Do you mean that, forex order book indicator mt4, if the stop loss of sell trade get triggered it will create a buy order? so the title Buy Stop Orders could be also written Sell Trades stop loss that will be a Buy Trade upon being triggered?
Question as above, but the other way around? Hello Lucky, Did you try to contact the developer at mql hotmail. Hello Igor, I will help you. Can I use this email here to contact you? Alternatively, you can send me your details here. yes the indicator does work any other Oanda MT4 broker. Yes, the indicator does update every 20 minutes since the DataFeed from Oanda is received each 20 mins or so.
This is different then the one on the Oanda website which only updates once an hour. Hi there, Can you suggest some specific strategies to use with this indicator. Thanks in Advance. Save my name, forex order book indicator mt4, email, and website in this browser for the next time I comment, forex order book indicator mt4. Additional menu Home Strategies Technical Analysis Blog Forex Live Rates Good order flow indicators for MT4 are really hard to come by these days.
You can use the button below to the purchase the indicator. The fxlabsnet. dll file needs to be place in the Libraries Folder. ex4 file goes in the Indicators Folder. mqh file needs to be put in the Include Folder. How To Setup The Order Flow Indicator Correctly With the indicator now installed, the next thing to do is configure the settings so that it displays the right information on the chart.
Hi, this indicator only works on eurusd, usdjpy. Or it can forex order book indicator mt4 use on others. Hope this helps, have a good week — ForexMentorOnline. nl Make sure to Sent as many details and screenshots available. I will do my best to solve it. Thank you. the indicator only display lines with percentages on my chart. can somebody help me pls. Leave a Reply Cancel reply Your email address will not be published, forex order book indicator mt4.
Comment Name Email Save my name, email, and website in this browser for the next time I comment.
FXSSI Brief Guide and Tutorial
, time: 8:17The Three Best Order Flow Indicators For Forex Traders
OandaX OrderBook Chart Indicator For MT4 general tips and trading: We advise learning more about the market profile as it looks similar a little bit so that it can help you while trading. OandaX OrderBook Chart Indicator For MT4 Disclaimer: We advise to study the OandaX OrderBook Chart Indicator For MT4 well before using it and decide to go FxGhani Order Book MT4 Free Indicator. Hey Guys Today we are going to share another good indicator for you. ��it show live orders on a particular price blogger.comted Reading Time: 1 min 02/12/ · OandaX OrderBook Chart MT4 Indicator is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data. OandaX OrderBook Chart MT4 Indicator provides for an opportunity to detect various peculiarities and Estimated Reading Time: 50 secs
No comments:
Post a Comment