Book Map Indicator for MetaTrader 4 Download – Free – [TradingFinder]

The Book Map Indicator lets traders observe market depth, liquidity, and buy/sell order levels through interactive and visual formats.

This trading tool uses colored histograms on the right side of the chart to indicate where significant buy (green) or sell (red) order volumes exist at different price levels.

In addition, the indicator uses colored circles to break down candlestick volume information.

Book Map Indicator Specifications

The features and specifications of the Book Map Indicator are presented in the table below.

Bullish Trend Conditions

According to the Ethereum (ETH) chart on the 1-hour timeframe, green histograms on the right indicate high volume and buy orders.

In addition, dark blue and light purple circles on green candles indicate strong volume in bullish candlesticks.

Bearish Trend Conditions

In the EUR/USD chart analysis, the appearance of multiple red histograms on the right side of the chart signals sell order concentration and high supply at those price levels.

Furthermore, light purple, dark purple, and dark blue circles above red candles indicate heavy sell volume in bearish market activity.

Book Map Indicator Settings

The image below displays the settings panel of the Book Map indicator on the MetaTrader 4 platform:

• Number of Levels: Set the number of price levels for buy/sell orders
• Color of Buy Order: Set the color of buy order bars
• Color of Sell Order: Set the color of sell order bars
• Color of Text: Define the color of text labels beside the bars
• Color of Price: Set the color of prices inside the bars

Conclusion

The Book Map Indicator is a key tool for order flow analysis and Depth of Market (DOM) tracking in MetaTrader 4.

The histograms drawn on the right side of the chart not only reflect order placement and volume but highlight potential support and resistance zones.

This indicator can be used in various tradingmarkets such as Forex, cryptocurrencies, stocks, and commodities.