Book Map Indicator Download for MetaTrader 4 – Free | Forex Indicator Download – MT4/MT5 Resource

The Book Map Indicator allows traders to observe market depth, liquidity , and buy/sell order levels with interactive and visual formats.

This trading tool uses the colored histogram on the right side of the chart to indicate where significant buy (green) or sell (red) order volumes exist at different price levels.

Additionally, the indicator breaks down the candlestick volume information using colored circles .

Book Map Indicator Specifications

The functions and specifications of the book map indicator are shown in the table below.

Book map indicator at a glance

One of the unique features of this product is that the Book Map Indicator is a generation of colored circles on candlesticks , each reflecting a specific volumetric characteristic:

• Gold Circle : The lowest volume in a candle
• Orange Circle : Low volume, limited activity
• Red-Orange Circle : Volume is below average
• Light Purple : Above average volume
• Dark Purple : Large trading volume and strong market trends
• Dark Blue : Maximum trading volume, potential smart money activity

bullish trend conditions

According to the Ethereum (ETH) chart on the 1 hour timeframe, the green histograms to the right indicate high volume and buy orders.

In addition, circles on dark blue and light purple green candles indicate strong volume in a bullish candlestick.

Bearish trend conditions

In the EUR/USD chart analysis, multiple red histograms appear on the right side of the chart signaling sell order concentration and high supply at these price levels.

Furthermore, light purple , dark purple , and dark blue circles above red candles indicate heavy sell volume during bearish market activity.

Book map indicator settings

The image below shows the Book Map indicator on the settings panel MetaTrader 4 platform:

• Number of Levels : Set the number of price levels for buy/sell orders
• Color of Buy Order : Set the color of the buy order bar
• Color of Sell Order : Set the color of the sell order bar
• Color of Text : Defines the color of the text label next to the bar
• Color of Price : Set the color of the price within the bar

Conclusion

The Book Map Indicator is a key tool for order flow analysis and Depth of Market (DOM) tracking in MetaTrader 4.

The histogram plotted on the right side of the chart not only reflects order placement and volume, but highlights potential support and resistance areas .

This indicator can be used in various trading markets such as Forex , cryptocurrencies , stocks , and commodities .