Indicator of short and long positions opened by traders in metatrader 5
When trading Forex or any other exchange, it is quite important to know the mood of the market, or the mood of those who trade in it.
For these purposes the open positions informer , but this tool only shows the current situation for a specific broker.
If you want to view statistics on a particular asset, then for these purposes it will be more effective to use the open positions indicator in the trading platform.
The script called “The Long vs Short Fraction in Volume” shows the volumes of long and short trades for the selected symbol on the selected time frame.
In the latest version, the algorithm and speed have been optimized, which has significantly increased work efficiency.
How does the open positions indicator work?
After you download the script at the end of this article, install it in the trading platform and add it to the selected exchange asset, an additional window will appear below the price movement chart:
A multi-colored histogram will be displayed in the window; it will characterize the shares of open transactions in real and tick volume.
If there is no tick information in the history, then the position indicator will measure the percentage of high and low prices compared to the open and close of the candle. When evaluating the current bar, the script calculates the direction of each tick and calculates the volume of buy and sell transactions.
Working method
- Shares of purchases ( long ) in real or tick volume are displayed in red and gold;
- Shares of sales ( short ) in real volume or tick volume are displayed in blue and green;
- Demonstrations of the share of purchases and sales are symmetrical about the zero axis;
In general, the script “The Long vs Short Fraction in Volume” can be called a rather interesting tool, but only time can show how useful it is in work.
An indisputable advantage of the presented position indicator is that it is distributed completely free of charge, does not require additional configuration, and the current version 2.0 was released in 2024. Therefore, there is hope for the script to work correctly in the latest versions of the metatrader 5 trading platform.