Order flow · 2:32
The DOM
Learn to read the whole order book in the EliteXCharts DOM and trade right from the price ladder, in under 3 minutes.
Chapters
Step by step
- Add the DOM widget from the plus menu and choose the instrument in the same picker the chart uses
- Read the ladder: the last trade in the aggressor's color, the whole level 2 book and the pressure bar
- See what traded at each price (volume, buys, sells, delta) and the whole session in the info row
- Scroll to the high, low and open; Follow price recenters the ladder, which holds still under your mouse
- Click to place limit or stop orders, drag them to move or fill at market, and cancel with the X
- Turn on the strategy so every entry comes with a target and a stop, in ticks, dollars or percent
- Track pending orders, open P&L, daily P&L and balance, and use MKT, Breakeven, Invert and Flatten
- Open the gear to set columns and colors, and turn on two-click confirmation for a live account
What the narrator says
0:08Welcome to EliteXCharts. In this video, you'll read the whole order book in the DOM, and trade right from the price ladder.
0:15To open it, add the DOM widget to your workspace from the plus menu. Then choose the instrument, in the same picker the chart uses.
0:23Each row is a price. The last trade lights up in the aggressor's color, so you can see who's hitting: buyers or sellers.
Read the full transcript
0:31Around the price is the book: bids waiting below, asks waiting above, with bars that show where the size is. And it's the whole book: every price level, as far as the ladder goes.
0:43The N2 badge means level two is on. It comes from any connected login that has it, and every account gets it. The pressure bar adds up the twenty best levels on each side.
0:54On the left is what already traded at each price: the volume, the aggressive buys and sells, and the delta between them.
1:01Up top, the session in one line: last price, change, volume, number of trades, high, low and open.
1:09Scroll, or drag the bar on the right, to move through the session: the high, the low and the open are marked with bands. Follow price keeps the ladder on the price. It holds still while your mouse is on it, so you can click calmly.
1:23To trade, pick the account and the quantity. Then click the buy order column to buy, or the sell order column to sell. Below the price, a buy is a limit order; above it, a stop. The preview shows which before you click.
1:37Drag an order to move it. Drop it on the other side of the price, and it fills at market. And the X cancels it.
1:44Turn on the strategy, and every entry comes with a target and a stop, in ticks, dollars or percent. When one of them fills, the other is cancelled.
1:54Above the buttons are your numbers: pending orders, open quantity, open P&L and the day's P&L. And at the bottom: the bid, the ask, the spread and your balance.
2:05The MKT buttons buy and sell at market. Breakeven moves your stop to the entry once you're in profit. Invert flips your position in a single order, and Flatten closes it.
2:17The gear opens the settings: the columns, their order and width, and every color. And on a live account, you can turn on two-click confirmation.
2:26That's the DOM in EliteXCharts: the whole book, with your orders one click away.
