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

Celebrate Independence Day with MultiCharts!Get up to 50% off


+1 888 340 6572



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.

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.


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.


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


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)


What is Dom market depth? ›

DOM (Depth Of Market) shows all limit orders placed but not yet executed for an instrument. The greater the number of orders in a certain price level, the greater the interest in that level. Using the DOM you can trade and then: Place or cancel an order with just one click.

How do you calculate market depth? ›

One method for calculating market depth is using the Volume-Weighted Average Price (VWAP) indicator. VWAP is a technical analysis tool that calculates the average price weighted by the trading volume for a security over a specified time frame.

What is depth of market Dom indicator? ›

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 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 recommended depth of the DOM? ›

An optimal DOM tree: Has less than 1500 nodes total. Has a maximum depth of 32 nodes. Has no parent node with more than 60 child nodes.

What does 2% market depth mean? ›

In simpler terms, it shows the volume of buy and sell orders within a 2% range of the current market price. This depth gives traders valuable insights into the market's liquidity and the current sentiments of other traders.

Is market depth a good indicator? ›

Market depth data helps traders determine where the price of a particular security could be heading. For example, a trader may use market depth data to understand the bid-ask spread for a security, along with the volume accumulating above both figures.

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.

Where can I get 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.

How to use dom in trading? ›

The order book, or Depth of market (DOM), is a panel through which you can see how many orders are to buy and sell an asset at different prices. Let's assume that the asset price is now $1. Then, the order book will show how many orders there are for prices of $0.90, $1.10, and so on.

What is market depth in day trading? ›

Market depth indicates all the orders of a security's order book at a given time. It refers to the amount that will be used to trade the limit order within a given price if limited by price. It can also be defined as the least favorable price for a market order within a given size if determined by size.

How do you trade using depth chart? ›

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.

How is market depth calculated? ›

Market depth considers the overall level and breadth of open orders and is calculated from the number of buy and sell orders at various price levels on each side of the mid price.

Do I need Depth Of Market? ›

The Depth of Market indicator is a powerful tool for market analysis. It provides information on market depth and order volumes at different price levels. The indicator can be especially valuable for short-term traders who actively respond to price changes.

What determines the depth of the 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 do you mean by market depth? ›

Market depth refers to a market's ability to absorb relatively large market orders without significantly impacting the price of the security. Market depth considers the overall level and breadth of open orders, bids, and offers, and usually refers to trading within an individual security.

How to see market depth in TradingView? ›

Click on the Trade button in the trading panel. In the order panel, select the DOM tab - Order book. The DOM will open for the asset selected on the chart. If the data is not displayed, the symbol on the chart is not traded through the selected broker.

Do I need market depth? ›

Market depth is useful for identifying future support and resistance levels. Traders can quickly determine if there are more sell orders in the market than buy orders—or the opposite. If there are more sell orders, for example, price tends to weaken because of the increased selling pressure.

Top Articles
Latest Posts
Article information

Author: Domingo Moore

Last Updated:

Views: 6408

Rating: 4.2 / 5 (53 voted)

Reviews: 84% of readers found this page helpful

Author information

Name: Domingo Moore

Birthday: 1997-05-20

Address: 6485 Kohler Route, Antonioton, VT 77375-0299

Phone: +3213869077934

Job: Sales Analyst

Hobby: Kayaking, Roller skating, Cabaret, Rugby, Homebrewing, Creative writing, amateur radio

Introduction: My name is Domingo Moore, I am a attractive, gorgeous, funny, jolly, spotless, nice, fantastic person who loves writing and wants to share my knowledge and understanding with you.