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: 2022.08.24
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Open Depth of Market
Open Depth of Market
On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can display the Depth of Market window. The depth of market data helps you grasp the market liquidity, showing the amount of buy and sell orders by price. In MT5, you can check the depth of market data and the tick chart, or place an order from the Depth of Market window.(*1)
Here we will look at how to open the Depth of Market window on MT4/MT5. Please note that if you wish to place an order from the Depth of Market window, you must have one-click order enabled.
| Related article: | Enable one-click trading |
| Place market order on the Depth of Market | |
| Place limit/stop order on the Depth of Market |
Switch between MT4/MT5 tabs to check the steps for each.
(*1)On MT4, the depth of market data is not available. The Depth of Market window only serves as a scalping tool.
Step 1
The Depth of Market window can be opened from the Market Watch or the chart.
Open the Depth of Market window from the Market Watch
In the Market Watch, right-click on the symbol to display the Depth of Market window for and select "Depth Of Market".
Open the Depth of Market window on the chart
Right-click on the chart and select "Depth Of Market". (Shortcut keys: "Alt"+"B")
Step 2
The Depth of Market window will be displayed.
The data is not displayed on MT4
On MT5, some brokers provide the depth of market data, or the real-time numbers of orders placed by other traders. On MT4, on the other hand, this feature is not available. The Depth of Market window still can be used as a scalping tool.
Step 3
To perform an operation or set up, right-click on the Depth of Market window and select an option from the context menu.
|
Number |
Item name |
Descriptions |
|---|---|---|
|
1 |
Buy/Sell Limit |
Right-click on the desired price to place an order. Select "Buy Limit" or "Sell Limit" to place a buy/sell limit order. If you right-click the price lower than the current one, "Buy Limit" will be shown, and if you right-click the higher price, "Sell Limit" will be shown. |
|
2 |
Buy/Sell Stop |
Right-click on the desired price to place an order. Select "Buy Stop" or "Sell Stop" to place a buy/sell stop order. If you right-click the price lower than the current one, "Sell Stop" will be shown, and if you right-click the higher price, "Buy Stop" will be shown. |
|
3 |
Alert |
Right-click on the desired price to ring an alert and select "Alert". It will notify you when the price is reached. |
Step 1
The Depth of Market window can be opened available from the menu, Market Watch, or chart.
Open the Depth of Market window from the menu
Click "View" in the menu. Hover the pointer over "Depth Of Market" and select a symbol.
Open the Depth of Market window from the Market Watch
In the Market Watch, right-click on the symbol to display the Depth of Market window for and select "Depth Of Market".
Open the Depth of Market window on the chart
Click the Depth of Market icon on the left of the two icons in the top left corner of the chart. (Shortcut keys: "Alt"+"B")
Or, right-click on the chart and select "Depth Of Market".
Step 2
The Depth of Market window will be displayed. On the Depth of Market window, you can place market and limit/stop orders.
| Related article: | Place market order on the Depth of Market |
| Place limit/stop order on the Depth of Market |
The depth of market data is rarely available
If your forex broker is not providing the depth of market data, it will not be displayed on the Depth of Market window. The depth of market data is commonly used for stocks and other instruments traded on centralized exchanges, and rarely provided by forex brokers. Even if the data is not displayed, the Depth of Market window can still serve as a scalping tool with a tick chart. Please note that the data displayed for forex instruments is your broker's data, as there is no centralized exchange for forex.
Step 3
To configure the depth of market settings, open the context menu by right-clicking on the depth of market data or the tick chart.
Right-click on the depth of market data
Right-click on the Depth of Market window and select the item to configure.
|
Number |
Item name |
Descriptions |
|---|---|---|
|
1 |
Buy Limit/Sell Limit |
Right-click on the desired price to place an order. Select "Buy Limit" or "Sell Limit" to place a buy/sell limit order. If you right-click the price lower than the current one, "Buy Limit" will be shown, and if you right-click the higher price, "Sell Limit" will be shown. |
|
2 |
Buy Stop/Sell Stop |
Right-click on the desired price to place an order. Select "Buy Stop" or "Sell Stop" to place a buy/sell stop order. If you right-click the price lower than the current one, "Sell Stop" will be shown, and if you right-click the higher price, "Buy Stop" will be shown. |
|
3 |
Alert |
Right-click on the desired price to place an order and select "Alert". It will notify you when the price is reached. |
|
4 |
Chart |
Show/hide the tick chart. |
|
5 |
Link to Active Chart |
Show the same symbol as an active chart on the Depth of Market window. |
|
6 |
Extended |
Show/hide the price range without the depth of market data. |
|
7 |
Spread |
Show/hide the price range of the spread. |
|
8 |
Amount instead of Lots |
Show the data in the base currency. |
Right-click on the tick chart
Right-click on the tick chart and select the item to configure.
|
Number |
Item name |
Descriptions |
|---|---|---|
|
1 |
Chart |
Show/hide the tick chart. |
|
2 |
Time & Sales |
Show/hide the list of the time and price for the executed trades. |
|
3 |
Export Ticks to CSV |
Export the tick chart in CSV. |
|
4 |
Auto Scroll |
Turn on/off the auto scroll of the tick chart. |
|
5 |
Crosshair |
Show/hide a crosshair on the tick chart. |
|
6 |
Bid/Ask |
Show/hide the Bid/Ask prices on the tick chart. If you turn this option off when the last traded price is not provided, nothing will appear on the tick chart. |
|
7 |
Last |
Show/hide the last traded price on the tick chart. |
|
8 |
Sync |
Sync the time axis for the executed trade volumes with the one for the tick chart. |
Last updated
: 2023.06.07
Writer
Takayoshi Nakamaru
Manual production consultant, MBA
Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.
【Business information】
http://www.fintecs.co.jp/profile/
Supervisor
Akira Takagi
Systems engineer, MetaTrader administrator
After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.
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