The depth of market (DOM) displays the current market for a trading symbol. This tool provides the ability of quick and easy order management. The main part of DOM is occupied by the list of prices. The upper part (colored in red) displays Ask prices, while the lower part (colored in blue) displays Bid prices. The best depth of market prices is the current Bid and Ask for the symbol. The next level is set as the closest level allowing placing Buy Limit and Sell Limit orders considering stop level for the symbol. Further levels are set according to the symbol's price step.
Why Use DOM?
- Transparency: See real-time liquidity and price levels.
- Efficiency: Place and manage orders quickly.
- Control: Adjust Stop Loss, Take Profit, and alerts directly from the DOM.
Steps to Enable Depth of Market in MT5
- Launch Meta Trader 5 terminal and log in to your trading account.
- In the Market Watch window right-click on the chosen symbol and select Depth of Market from the context menu.
You can place order directly from the DOM:
- Open the Depth of Market Window
- The DOM window will display a list of BID (buy) and ASK (sell) prices along with available volumes.
- Click on the blue upper arrow to open a Buy Stop order and on the red down head arrow to open a sell stop.
- A quick order panel will appear for confirmation.
- Adjust volume (lot size).
- Optionally set Stop Loss and Take Profit levels.
- Click Place Order
- Your pending order will appear in the "Trade" tab.