If you're diving into trading on MetaTrader 5, understanding market sentiment is crucial for making informed decisions. This sentiment indicator gives you a clear view of whether the market is feeling bullish or bearish.
It's particularly effective in centralized markets, like the FORTS. If you want to understand how pricing works, check out our detailed article on Principles of Exchange Pricing with the Moscow Exchange's Derivatives Market.
Keep in mind that while using this indicator, it's important to consider the current trend, which you can analyze using technical analysis techniques.
Important: The indicator is set up by default for RTS futures, but the attached parameters can also be applied to Brent, making them versatile for your trading needs.
Key Parameters:
- Min. Order Volume: This is the minimum volume required for limit orders to be considered.
- Min. Number of Orders: This sets the minimum number of limit orders needed.
- Order Volume Difference: This indicates the required difference in the volume of limit orders, showing how many times the volume of SELL orders exceeds BUY orders and vice versa.
- Order Difference: This parameter specifies how much the number of SELL orders is greater than the number of BUY orders, and vice versa.
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