Order Book Indicator MetaTrader 5 – Download - [TradingFinder]

The Order Book indicator in MetaTrader 5 is a technical analysis tool for examining active market orders. It plays a vital role in analyzing order flow and market depth structure.

This tool visualizes buy orders (in green) and sell orders (in red) at various price levels, providing a live and analyzable representation of actual supply and demand conditions.

Order Book Specifications Table

The key features and specifications of the Order Book Indicator are summarized in the table below.

Uptrend Conditions

In the 15-minute chart of XAUUSD (Gold), buying pressure near support levels indicates strong demand pressure and a potential price reversal to the upside.

Downtrend Conditions

The chart below displays Bitcoin's price in the 4-hour time frame, shown here in a 1-hour view. The significant selling pressure near resistance levels signals decreased buying power.

A strong bearish trend may form if the price fails to break above the red level.

Order Book Indicator Settings

The configuration panel for the Order Book Indicator is shown in detail below:

• Number Of Levels: Number of order book levels
• Color Of Buy Order: Color of buy orders
• Color Of Sell Order: Color of sell orders
• Color Of Text: Color of text
• Color Of Price: Color of price

Conclusion

The Order Book Indicator is a powerful tool for market depth analysis and price behavior assessment. It displays detailed buy and sell order information, revealing the supply and demand structure on the MetaTrader 5 platform.