Depth of Market (DOM)

This industry-standard tool shows market depth 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. For technical information on this feature look at the related Wiki page.

Two ways to display

DOM in MultiCharts has two modes of operation: dynamic and semi-static. Simply choose the mode through a right-click.

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Semi-static amd Dynamic
Semi-static DOM mode means the DOM window will re-center once the current price hits the upper or lower boundary of the window. A 5 second countdown precedes re-centering. Our DOM is semi-static because it will move without input from the user (i.e. if the price goes off the screen), which creates the possibility of making an error during input.

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.

Traders enjoy the freedom to choose the mode that suits their trading style.

10 levels of depth

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.

One-click order entry

Perform one-click trading with a mouse left-click, or use the mouse right-click to choose a precise order.

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One-click-trading
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.

Want to do something different? Simply right-click on a cell and choose from the displayed options. MultiCharts supports market, limit, stop, and stop-limit single order types.

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.

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Subscriptions
DOM data is streamed from the broker and may require special subscriptions to receive it. Dukascopy and FXCM don’t support DOM data.

Setting Order Quantity
Having chosen what to buy or sell and when, it is necessary to specify the 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.

Account Selector
All available accounts are automatically listed in the Accounts drop-down list. Simply click on it and choose the account to trade. Several DOM windows may be created to trade several accounts and/or instruments at the same time.

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.

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Order and strategy icons
Stop, limit, and stop limit orders are shown as small icons with appropriate names, and they can dragged to price levels since they are price orders. Market orders can only be entered using the blue (buy) and red (sell) buttons.

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.

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.

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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.

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Risk Warning:
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.