Depth of Market (DOM) With One-Click Trading | MultiCharts (2024)

MultiCharts

+1 888 340 6572

GET STARTED

MultiCharts/Features/

This industry-standard tool shows market depth, volume profile and provides one-click trading. MultiCharts’ DOM displays ten price levels each way and allows entry and exit automation directly in the DOM window. See volume at different prices to analyze how supply and demand are interacting and where prices may go.

Profit and Loss

We make estimation of PnL much easier for you. Now there is no need to calculate how much profit you are to gain in a particular number of ticks. Simply enable PnL by right-clicking anywhere on the DOM window except for Buy, Price & Sell columns and control elements to see the shortcut menu and check the Show PnL.

Compact mode

Screen space is a prized commodity when you have many charts, scanners and DOM windows open at the same time. Compact Mode lets you save a little more by hiding some interface buttons and leaving visible only essential ones. You can always switch to Full mode by right-clicking and choosing the appropriate option.

Volume Profile

Volume Profile in DOM window allows discretionary traders to monitor changes in trade volume while making trading decisions live. To open Volume Profile window right-click anywhere on the DOM window except for Buy, Price & Sell columns and control elements to see the shortcut menu and check the Show Volume Profile option.


DOM

Depth of Market (DOM) With One-Click Trading | MultiCharts (1)

DOM

Depth of Market (DOM) With One-Click Trading | MultiCharts (2)

DOM

Depth of Market (DOM) With One-Click Trading | MultiCharts (3)

Ten levels of depth

A price ladder or DOM display shows each price level in the middle column with the number of buyers at each price level on the left, and the number of sellers at each price level on the right. See ten price levels for both asks and bids, so you know the spread of bids and offers. A deeper DOM gives a better overview of the market. For technical information on this feature look at the related article.

Two ways to display

DOM in MultiCharts has two modes of operation: dynamic and semi-static. Simply choose the mode through a right-click. Semi-static DOM mode means the DOM window will re-center once the current price hits the upper or lower boundary of the window. Dynamic DOM mode means the DOM window will automatically re-center after each new tick (price update) received. This mode is very useful for scalping strategies.

One-click order entry

Left-click a cell to place either a limit or stop order. A mouse click in the bid (blue) column at best ask or lower, or in the ask (red) column at best bid or higher, will place a limit order. A mouse click in the bid column on a price higher than best ask will place a stop order. Similarly, clicking on a price in the ask column below the best bid will also place a stop order. MultiCharts supports market, limit, stop and stop-limit single order types.

Setting Order Quantity

Enter the number of contracts manually or use the convenient calculator tool. The calculator automatically stores the last amounts used, so they can be quickly selected from a menu. It is also easy to add a certain amount of contracts to the amount already owned. Every time the calculator is opened the amount goes up by +1, because the program assumes the calculator is opened to change the amount of contracts by at least one.

Time in Force

How long should an order remain active? There are several available options: DAY (good for the rest of the day), GTC (good till cancelled), GTD (good till date), and IOC (instant or cancel). Please note that these options are not always enabled, it depends on the order type being placed.

Trade through any broker

Trade with any supported broker from the DOM; simply choose the broker and type in the symbol. Have several accounts? There is also a drop-down list for account choice. DOM data is streamed from the broker and may require special subscriptions to receive it. Dukascopy and FXCM don’t support DOM data.


Apply entry and exit strategies with ease

Staying protected in a fast moving market is a must for all traders. It is easy to drag-and-drop entire strategies. Apply some strategies to existing orders or to entire positions.

Depth of Market (DOM) With One-Click Trading | MultiCharts (4)Depth of Market (DOM) With One-Click Trading | MultiCharts (5)Depth of Market (DOM) With One-Click Trading | MultiCharts (6)Depth of Market (DOM) With One-Click Trading | MultiCharts (7)Depth of Market (DOM) With One-Click Trading | MultiCharts (8)Depth of Market (DOM) With One-Click Trading | MultiCharts (9)Depth of Market (DOM) With One-Click Trading | MultiCharts (10)
Depth of Market (DOM) With One-Click Trading | MultiCharts (11)Depth of Market (DOM) With One-Click Trading | MultiCharts (12)Depth of Market (DOM) With One-Click Trading | MultiCharts (13)Depth of Market (DOM) With One-Click Trading | MultiCharts (14)Depth of Market (DOM) With One-Click Trading | MultiCharts (15)Depth of Market (DOM) With One-Click Trading | MultiCharts (16)

Essence of entry strategies

Entry strategies are pre-designed One-Cancel-Other (OCO) order groups to enter positions. They consist of combinations of limit and/or stop orders, and if one is filled then the other one is cancelled. They are shown as icons in the Trade Panel, and they can be applied to a chart by drag-and-drop. There are currently four entry strategies: Breakout, Fade, Breakout Up/Fade, and Breakout Down/Fade. Learn more about them in the Automation of Entries and Exits section.

Exit strategies are essential

Exit strategies were designed to protect against sudden market movements and to exit a position in a structured and organized fashion. Exit strategies can be used to manage risk, scale into and out of positions and to leave the computer while trades are on. Just like entry strategies, these exits are OCO groups consisting of limit and/or stop orders. It is very easy to drag-and-drop exit strategies to existing orders, apply them with a mouse right-click or auto-apply them to every new order placed. Learn more about them in the Automation of Entries and Exits section.

DOM

Depth of Market (DOM) With One-Click Trading | MultiCharts (17)

Quickly drag-and-drop orders

Visual trading is essential because most traders spot important points on a chart with their eyes, such as where a pivot will occur or a breakout might happen. It is easy to drag-and-drop orders precisely onto the DOM. Stop, limit and stop limit orders are shown as small icons with appropriate names, and they can be dragged to price levels since they are price orders. One-Cancels-Other (OCO) order groups may also be added to enter and exit positions. OCO orders consist of combinations of limit and/or stop orders, and if one is filled the other one is cancelled. OCO orders are also shown as icons and will be discussed in more detail in the Entry and Exit Automation section.


Easily adjust price levels

To change the price where orders are placed simply drag them up or down. Don’t like the new location? Just press Escape and the order will return to its original position.

DOM

Depth of Market (DOM) With One-Click Trading | MultiCharts (18)

MultiCharts

Depth of Market (DOM) With One-Click Trading | MultiCharts (19)

Level 2 data for automated strategies

DOM data is accessible from strategies, so you can take into consideration ask and bid size at different price levels automatically. Shifts between the number of contracts being bought or sold at any given second can often indicate important changes in a larger trend. Seeing only current ask and current bid prices will only tell you the spread, but it won't tell if there are more sellers than buyers, for instance. Having access to ten levels of depth on each side through the strategy opens a wealth of opportunities to catch those moments when volume changes direction and make necessary conclusions.

Depth of Market (DOM) With One-Click Trading | MultiCharts (2024)

FAQs

What is the depth of market in Dom trading? ›

Summary. Depth of Market (DOM) is organized in a list of prices and shows the numbers of pending buy and sell orders corresponding to each price level. Traders can forecast whether the price will move up or down through the trend of DOM, and thus, determine the timing to buy or sell.

How do you calculate market depth? ›

Market depth can be evaluated by looking at the order book of a security, which consists of a list of pending orders to buy or sell at various price levels. On any given day, there may be an imbalance of orders large enough to create high volatility, even for stocks with the highest daily volumes.

Where can I find the depth of the market? ›

Market depth, also known as depth of market (DOM), refers to the amount of liquidity and volume within a security. It can be evaluated by examining the order book of a security, which shows a list of pending orders to buy or sell at different price levels.

How do I see market depth in thinkorswim? ›

In order to view the Market Depth for a symbol, click on the Symbol Actions button and choose More info on and then Market Depth for. The Market Depth will be displayed on the Left Sidebar even if it wasn't previously added there.

What is the depth of Dom? ›

An optimal DOM tree: Has less than 1500 nodes total. Has a maximum depth of 32 nodes.

Do I need depth of market? ›

Market depth data can also be helpful when contemplating entry and exit points for your trades as you have a total overview of the orders pending on the market. For example, if you are trading stock with low volume and want to buy many shares, the market depth data can allow you to guesstimate the average buying price.

What is the formula for depth? ›

D = V Times 1/2 T D = Depth (in meters) T= Time (in seconds) V = 1507 m/s (speed of sound in water) Calculate the depth foe each of the times given below, using the formula above.

How do you check market depth? ›

Market depth gives a gist of real time market activity in a particular security. It gives an idea of the levels at which the orders are being placed. To view the market depth for a particular scrip, search for the scrip to go to the scrip info page.

Is market depth a good indicator? ›

Data about market depth enables traders to determine the directions of the price movement of a particular security. Securities that are deep or with a strong market depth allow traders to place bulk orders without creating significant price movements.

How to get depth of market on TradingView? ›

How to start using depth of market
  1. Click on the “Trade” button in the trading panel.
  2. A new tool will appear at the right part of your screen. You can choose between two tabs — Order and DOM.
  3. If you click on the DOM tab, you will see the depth of market for the asset selected on the chart.

How to use depth chart for trading? ›

You can use the Depth Chart to indicate a specific price point at which you would like to place a limit or stop-limit order. Once you have selected an order type, simply hover over either side of the chart based on the order you wish to place (buy or sell) and choose a specific price from the chart.

Are dom and level 2 the same? ›

Level 2 Data (or Full Depth of the Order Book/DOM): Commonly known as the “Order Book” or “Market Depth”, this offers a more comprehensive look. You'll see the full volume of bids and asks at every price level. If you hear terms like Market By Order (MBO), it's referring to this detailed view.

How is market depth calculated? ›

Depth of market (DOM) is a measure of the supply and demand for liquid, tradeable assets. It is based on the number of open buy and sell orders for a given asset such as a stock or futures contract. The greater the quantity of those orders, the deeper or more liquid, the market is considered to be.

How do you learn stock market in depth? ›

What Are The Ways You Can Start Learning About Trading?
  1. Consulting A Stock Exchange Broker. ...
  2. Read Financial Research And Articles. ...
  3. Read Books On The Share Market. ...
  4. Attending Lectures, Classes, Seminars. ...
  5. Monitor The Market And Analyze It. ...
  6. Studying The Ways Of Other Successful Investors. ...
  7. Identify And Analyze Your Risks.

How do I view a depth chart? ›

The X-Axis measures the price, while the Y-Axis measures the number of orders. The green area on the left represents the lowest prices that customers are looking for. The red area on the right represents the highest prices sellers desire. The split represents the price levels from the most recent trade in the middle.

What do you mean by depth of market? ›

Depth of market (DOM) is a measure of the supply and demand for liquid, tradeable assets. It is based on the number of open buy and sell orders for a given asset such as a stock or futures contract. The greater the quantity of those orders, the deeper or more liquid, the market is considered to be.

What is market depth in bullish? ›

Market depth charts offer a glimpse into the collective sentiment of market participants. When the buy side of the order book is more dominant, it indicates bullish sentiment, and conversely, when the sell side is dominant, it suggests bearish sentiment.

What is the depth of market in forex trading? ›

Forex Market Depth Explained

Market depth meaning is the volume of buy and sell orders at different price levels. It's a real-time snapshot of the pair's liquidity and depth of supply (sell orders) and demand (buy orders). Traders use this information to gauge the strength and direction of a currency pair.

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Msgr. Benton Quitzon

Last Updated:

Views: 6468

Rating: 4.2 / 5 (43 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Msgr. Benton Quitzon

Birthday: 2001-08-13

Address: 96487 Kris Cliff, Teresiafurt, WI 95201

Phone: +9418513585781

Job: Senior Designer

Hobby: Calligraphy, Rowing, Vacation, Geocaching, Web surfing, Electronics, Electronics

Introduction: My name is Msgr. Benton Quitzon, I am a comfortable, charming, thankful, happy, adventurous, handsome, precious person who loves writing and wants to share my knowledge and understanding with you.