fx market depth
Hello MQL4 community,
While browsing the MQL5 market, I found an indicator representing majorities of buy to sell order ratio. I understand in MQL4, volume represents the amount of ticks per bar and not a buy to sell order ratio. I believe this might be a practical method to place order sends/closes. Many indicators show what is happening but don't show buy-to-sell order ratios which should generally cause the market to move in which direction. Does anyone in the MQL4 community have knowledge of a method to discern buy to sell order ratio in the FX market using MQL4 language?
Thank you
It's not possible with MT4.
It's not possible with MT4.
How disappointing.
Thank you very much for your response.
How disappointing.
Thank you very much for your response.
Alain,
I should have a strong inclination of future market direction when deciding to place a trade. What signal should determine placement and closure of a buy/sell order? Price should determine placement and closure of a buy/sell order. More specifically, the size of buyers vs. sellers. Who's stronger (buyers or sellers)? If MT4 doesn't provide this information, how can I expect to profit from FX using MT4. I might as well hold up a sign reading "free money anyone?". I'm sure there may be an alternative method to determine the size of buyers vs. sellers in MQL4 but at this time I still search.
Thanks again Alain.
Alain,
I should have a strong inclination of future market direction when deciding to place a trade. What signal should determine placement and closure of a buy/sell order? Price should determine placement and closure of a buy/sell order. More specifically, the size of buyers vs. sellers. Who's stronger (buyers or sellers)? If MT4 doesn't provide this information, how can I expect to profit from FX using MT4. I might as well hold up a sign reading "free money anyone?". I'm sure there may be an alternative method to determine the size of buyers vs. sellers in MQL4 but at this time I still search.
Yep, so does everyone else, that is the challenge, the coding bit is the easy bit.
I wouldn't be so bold as to write "coding is easy" because it isn't (for me at least). Coding is 0% useful without a sensible strategy holding its reigns. Simon, you're a moderator so of course you believe coding is easy because you've been coding for a couple years longer than I :O lol! If I keep coding for ten years I'll think coding is easy too :) Hahaha! Currently I'd say both coding and strategy are challenges. I suppose all depends on what level of coding and strategy one wishes to achieve.
Bottom line, phrase: "Cause and effect". I must discover a "cause" before I can profit from its "effect".
I wouldn't be so bold as to write "coding is easy" because it isn't (for me at least). Coding is 0% useful without a sensible strategy holding its reigns. Simon, you're a moderator so of course you believe coding is easy because you've been coding for a couple years longer than I :O lol! If I keep coding for ten years I'll think coding is easy too :) Hahaha! Currently I'd say both coding and strategy are challenges. I suppose all depends on what level of coding and strategy one wishes to achieve.
Bottom line, phrase: "Cause and effect". I must discover a "cause" before I can profit from its "effect".
I didn't say coding was easy, just that it's the easy bit, meaning that in comparison to finding a way "to profit from FX using MT4" it is child's play.
Apologies for misinterpreting your statement, I believe I understand its meaning now. I'm starting to think FX isn't supposed to be profited from...
Thank you
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hello MQL4 community,
While browsing the MQL5 market, I found an indicator representing majorities of buy to sell order ratio. I understand in MQL4, volume represents the amount of ticks per bar and not a buy to sell order ratio. I believe this might be a practical method to place order sends/closes. Many indicators show what is happening but don't show buy-to-sell order ratios which should generally cause the market to move in which direction. Does anyone in the MQL4 community have knowledge of a method to discern buy to sell order ratio in the FX market using MQL4 language?
Thank you