OANDA X Order Book Chart
Info
The OANDA X Order Book Chart is a Indicator for MetaTrader 4 that the oandax product series is designed to display additional data on orders and positions provided by the oanda fxlabs service. The OANDAX OrderBook Chart indicator is designed to display the history histogram of orders or positions on the instrument, nearest to the time specified by the user on the chart (a vertical line is used for indication).
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use OANDA X Order Book Chart
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The OANDAX product series is designed to display additional data on orders and positions provided by the OANDA FXLabs service.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: order tracing for mt4/mt5 - another powerful indicator for MetaTrader 4 traders.
The OANDAX product series is designed to display additional data on orders and positions provided by the OANDA FXLabs service.Also recommended: source code for multiple orders - similar indicator with strong performance on MetaTrader 4.
The OANDAX OrderBook Chart indicator is designed to display the history histogram of orders or positions on the instrument, nearest to the time specified by the user on the chart (a vertical line is used for indication). For the constant update of data, it is necessary for the EA to be running in the terminal. To display previously downloaded data, the EA is not required.
This indicator serves as an example of calling the data of a histogram downloaded by the EA. The histogram scale is linked to the chart scale. This means that unlike the OANDAX OrderBook Image History indicator, the histogram will be drawn directly on the chart area for which the data was downloaded, rather than at a user-defined location. The time for which the histogram is drawn will be displayed in the upper left corner (using the comment function).
If the vertical indication line is located at the 0 bar or to the right of it (at the location of upcoming history), the line will automatically move to the right when a new bar appears. This ensures that the latest downloaded data can be constantly monitored.
Order Book (OrderBook) or Open Orders.
This is a histogram that shows the distribution of limit and stop orders by price levels. The limit orders include the Buy Limit orders and the Take Profit levels. The stop orders include the Sell Limit orders and the Stop Loss levels.
Position Book or Open Positions.
This histogram shows the distribution of prices at which the active positions of traders were opened at the time the histogram was formed.
The above information is available for 16 instruments: AUDJPY, AUDUSD, EURAUD, EURCHF, EURGBP, EURJPY, EURUSD, GBPCHF, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, XAUUSD, XAGUSD.
The minimum step of history data is 20 minutes, but depending on the history depth, the step can increase up to 24 hours, and there may be unexpected gaps.
Four display formats are available for both orders and positions histograms:
- Basic: Displays a basic level histogram without further processing.
- Cumulative: The values of all previous levels are added to each level.
- Simple Difference: Instead of short and long orders (positions), their difference is displayed.
- Cumulative Difference: Difference for the cumulative histogram.
The data is downloaded and saved by UTC time, therefore, for the correct display of the histogram time, set the correct time zone of your broker server relative to UTC in the indicator settings.
Indicator Parameters:
- Use Custom Instrument: True, if you have non-standard instrument names or if you need to display a histogram of another instrument on the chart.
- Custom Instrument Name: Instrument name in the format of OANDA FXLabs. For EURUSD - EUR_USD, for Gold (XAUUSD) - XAU_USD, for Silver (XAGUSD) - XAG_USD.
- Server UTC Time Offset: Time zone of your server relative to UTC.
- Show Histogram Cumulative: If True, draws a cumulative histogram, i.e., the values of previous levels are added to each subsequent level.
- Show Histogram Difference: If True, displays the difference horizontally, i.e., displays the difference between buy and sell levels for each horizontal level. Also works for the cumulative mode.
- Show Orders (Positions if False): If True, displays the histogram of orders; if False, displays the histogram of positions, i.e., the level distribution of prices at which current positions were opened.
You may also like: order balance control - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property link "https://robotfx.org"
#property copyright "robotfx"
#property version "1.4"
#property strict
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
template <typename t>.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.