VolSys's Depth of Market indicator allows the order book to be displayed alongside the chart, representing the limit larger sized orders with a more pronounced histogram length, this will allow the user to more easily recognize which orders are of a more relevant size. If you have the availability of second level market data the indicator allows you to display up to 50 levels in Bid and 50 levels in Ask.

INDEX

• Settings-of-Use
  • Settings-Display
    • DOM Alignment
    • Width Mode
    • Length
    • Length Offset
  • Text Settings
  • Color Settings
  • Liquidity Mass
    • QMinimum Quantity
    • Minimum Amount
    • Add-in-Seconds

• Settings-of-Use

  
  

  Clicking on the indicator settings icon will open its configuration window, within which you can make several choices regarding the functionality of the indicator itself. 

  
  

  
  

  

  
  

• Settings-Display

• DOM Alignment

1. Extreme Right

Align the indicator to the extreme right of the chart;

2. Last Bar

Aligns the indicator to the right of the last bar, this option is useful for example for all users who keep the Volume By Price indicator on the far right;

• Mode Width

1. Window Size

Adapt the indicator to the chart window size; 

2. Fixed

The size of the indicator remains fixed;

• Length

Defines of the histograms provided by the indicator;

• Length Offset

Defines the distance to be kept from the far right, increasing this value will gradually shift the indicator position to the left;

• Text Settings

allows you to enable the Text and change its size, it also allows you to enable the Sum i.e., the summation of all orders present in Ask and the summation of all orders present in Bid within the range of tick in which the indicator operates.

• Color Settings

Lets you change the background and text color of the Bid and Ask;

• Liquidity-placed

If enabled it allows you to plot with markers directly on the chart any liquidity additions.

• Quantity-Minimum

Defines the minimum quantity that must be in the trading book to qualify a possible addition;

• Minimum Addition

Defines the minimum quantity that must be added;

• Additions-in-Seconds

Defines the maximum number of seconds within which liquidity must be added;

You are then allowed to change the color of the addition in Bid and in Ask, the relative type of marker, being able to choose between circle, square, diamond, arrow and triangle, and the thickness of the same.

In the example shown in the figure, should it be enabled, the indicator would show any addition of cash equal to or greater than 500, which was added in the 2-second interval.