Order Book Indicators for MetaTrader 4

Order Book indicators in MetaTrader 4 are developed to display the distribution of active buy and sell orders in the market. These tools process volume data at different price levels and display it in the form of depth charts or horizontal histograms. The input data is usually sourced from order flow or aggregated feeds, and it is possible to select the update interval. In some custom versions, minimum volume filters, separation of limit orders from market orders, and calculation of the buyer-to-seller ratio are included. The output can be plotted as a line, area, or grid to show buying or selling pressure at each price level. Combining this indicator with momentum or volume indicators increases the ability to identify high-liquidity zones and potential reversal points. The improved versions of the Order Book indicator provided by Trading Finder offer layered order display and historical market depth storage for reviewing past behavior.