MetaTrader Plug In

Discussion in 'Forex' started by JR-Welling, Nov 4, 2010.

  1. Here is my issue. If anyone can provide any recommendations please let me know.

    The broker that I trade with has 3 liquidity options to choose from. Currenex on MT4, Hotspot Institutional on MT4 and Integral on MT4.
    You can either choose to trade on one liquidity solution or have all three on your MetaTrader platform (SEE SCREENSHOT).

    I have all three running. So this way I can trade on either the Currenex, Integral or Hotspot feed without have to make switch back and forth in MetaTrader.

    The problem is MetaTrader has no depth of market. Currenex, Hotspot and Integral each have native platforms that support depth of market. So I can open up either one of these three platforms, while running MT4 of course, and see the depth for any of the pairs that I’m trading on MT4.

    This can be cumbersome moving back and forth throughout the day. Most of my trading is on the Hotspot feed. But I do execute certain strategies through Currenex and Integral as times.

    I need a depth of market plug-in for depth of market in MT4. Then I won’t have to switch back and forth on the native Currenex, Hotspot and Integral platforms.

    If anybody has any recommendations for this please let me know.
  2. isn't fx dom only the broker you're trading with ? certainly not the whole fx market

    dom's available with NinjaTrader tho the number of futures currencies/pairs available
    to trade is far fewer than an fx brokers offerings
    futures brokers offer NT fx trading via Gain, not sure if dom's available
  3. gtor514


    Not sure if you're aware but MT5 has a DOM feature.

    But as Wallace points out it most likely the brokers orders only.
  4. No the broker has his MT4 connected to the quote server & execution server. For example, if I utilize the Hotspot Institutional on MetaTrader the orders are routed from MetaTrader to Hotspot.

    The depth of market add-in for MT4 would show the depth for the feed coming in. In this example the Hotspot ECN.

    Its not a broker feed.
  5. JR-Welling: I don't know whether the dom you see when you use the Hotspot feed
    is the MT/broker trades, or Hotspot only trades, or total trades of all brokers/traders
    using the Hotspot feed
    while fx/spot dom may serve your purpose, since there's no single contract size
    there's no indication of Volume, only the $ amount of trades - from That source

    you might want to check what the 'Daily Volume' total is for the eurusd from Hotspot
    and compare it with these volume figures for the 6E Euro FX - eurusd equivalent

    11/05/2010 390,065 - to 12:30 pst
    11/04/2010 410,020
    11/03/2010 438,195
    11/02/2010 332,627
    11/01/2010 289,250

    the attached image is NijnaTrader's dom for the 6E, Buy/Sell amounts are contracts
    traded @ $125,000 amount per contract
    believe NT v7 now has Bid/Ask data and trades updated in microseconds
    also NT has several indicators related to dom that display on the chart pane
  6. Thanks for the feedback Wallace!
  7. Hi JR,

    Quick question: I've been looking for a new broker recently and am wondering if you would recommend yours? Do you have a link to them?