Depth of Bid / Ask

Depth of Bid/Ask indicator shows changes in the liquidity for a specified number of Bid/Ask levels.

The indicator displays two lines β€” the sum of Bids and the sum of Asks β€” allowing you to visually assess the imbalance of liquidity between buyers and sellers. The sum of each line dynamically changes until the current bar is formed, and after the bar closes, the value is fixed.

Please note that the values of the lines are updated in real-time as new orders are placed and executed.

The indicator can be applied to different types of charts, including range and time-based charts. However, it is recommended to use it on very small timeframes, such as 1-sec or 5-second charts.

Additionally, you have the flexibility to add multiple instances of the indicator, each with a different number of levels. This allows you to customize your analysis based on your preferences.

Last updated