fx market depth

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Hello MQL4 community,

While browsing the MQL5 market, I found an indicator representing majorities of buy to sell order ratio. I understand in MQL4, volume represents the amount of ticks per bar and not a buy to sell order ratio. I believe this might be a practical method to place order sends/closes. Many indicators show what is happening but don't show buy-to-sell order ratios which should generally cause the market to move in which direction. Does anyone in the MQL4 community have knowledge of a method to discern buy to sell order ratio in the FX market using MQL4 language?


Thank you

 
WhooDoo22:

Hello MQL4 community,

While browsing the MQL5 market, I found an indicator representing majorities of buy to sell order ratio. I understand in MQL4, volume represents the amount of ticks per bar and not a buy to sell order ratio. I believe this might be a practical method to place order sends/closes. Many indicators show what is happening but don't show buy-to-sell order ratios which should generally cause the market to move in which direction. Does anyone in the MQL4 community have knowledge of a method to discern buy to sell order ratio in the FX market using MQL4 language?


Thank you


It's not possible with MT4.
 
angevoyageur:

It's not possible with MT4.

How disappointing.


Thank you very much for your response.

 
WhooDoo22:

How disappointing.


Thank you very much for your response.

Actually, I think it'is not possible at all for Forex. There is no central market.
 

Alain,

I should have a strong inclination of future market direction when deciding to place a trade. What signal should determine placement and closure of a buy/sell order? Price should determine placement and closure of a buy/sell order. More specifically, the size of buyers vs. sellers. Who's stronger (buyers or sellers)? If MT4 doesn't provide this information, how can I expect to profit from FX using MT4. I might as well hold up a sign reading "free money anyone?". I'm sure there may be an alternative method to determine the size of buyers vs. sellers in MQL4 but at this time I still search.


Thanks again Alain.

 
WhooDoo22:

Alain,

I should have a strong inclination of future market direction when deciding to place a trade. What signal should determine placement and closure of a buy/sell order? Price should determine placement and closure of a buy/sell order. More specifically, the size of buyers vs. sellers. Who's stronger (buyers or sellers)? If MT4 doesn't provide this information, how can I expect to profit from FX using MT4. I might as well hold up a sign reading "free money anyone?". I'm sure there may be an alternative method to determine the size of buyers vs. sellers in MQL4 but at this time I still search.

Yep,  so does everyone else,  that is the challenge,  the coding bit is the easy bit.
 
RaptorUK:
Yep,  so does everyone else,  that is the challenge,  the coding bit is the easy bit.

I wouldn't be so bold as to write "coding is easy" because it isn't (for me at least). Coding is 0% useful without a sensible strategy holding its reigns. Simon, you're a moderator so of course you believe coding is easy because you've been coding for a couple years longer than I :O lol! If I keep coding for ten years I'll think coding is easy too :) Hahaha! Currently I'd say both coding and strategy are challenges. I suppose all depends on what level of coding and strategy one wishes to achieve.

Bottom line, phrase: "Cause and effect". I must discover a "cause" before I can profit from its "effect".


Thank you
 
WhooDoo22:

I wouldn't be so bold as to write "coding is easy" because it isn't (for me at least). Coding is 0% useful without a sensible strategy holding its reigns. Simon, you're a moderator so of course you believe coding is easy because you've been coding for a couple years longer than I :O lol! If I keep coding for ten years I'll think coding is easy too :) Hahaha! Currently I'd say both coding and strategy are challenges. I suppose all depends on what level of coding and strategy one wishes to achieve.

Bottom line, phrase: "Cause and effect". I must discover a "cause" before I can profit from its "effect".

I didn't say coding was easy,  just that it's the easy bit,  meaning that in comparison to finding a way "to profit from FX using MT4" it is child's play.
 
RaptorUK:
I didn't say coding was easy,  just that it's the easy bit,  meaning that in comparison to finding a way "to profit from FX using MT4" it is child's play.

Apologies for misinterpreting your statement, I believe I understand its meaning now. I'm starting to think FX isn't supposed to be profited from...


Thank you

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