Order Book

From English Manual

   

Introduction

The Order Book will show you by tick level where the traders have placed the orders at the price they are willing to trade. Not all orders are placed here but it can give an idea of the acceptance prices of a large part of the traders. This are not direct orders to the market. They are simply orders waiting to be executed when the price reaches their level. Whether they are executed or not depends on price movement. This indicator will not provide the whole information since there are many invisible orders awaiting to be executed by trading algorithms. They are placed only when the price reaches their level, instead of being publicly displayed. The indicator however can give a closer idea on where is liquidity and can give insight on where the trends can change.

   

Configuration

Font

The font for the text of the Order Book

Ask Color

The color for Ask Bars.

Border Color

The color for the border of the bars. Set to transparent to disable.

Bid Color

The color for the Bid Bars.

Distance from chart end to order book

This is the displacement in pixels from the edge of the chart to the order book.

Order Book Width

This is the width in pixels of the largest bar displayed in the order book.

Order Book space for text

Width in pixels of text.

Minimum Order Size

This is a filter to remove noise from the market. It will make the order book discard orders with lower volume than the value in this setting.

Maximun Order Size

This is a filter to remove orders higher than the predefined size. It is here for completness but this feature is likely to be removed from the toolkit.