Depth of market (DOM) is the ability of a market to absorb large market orders without affecting the price. DOM in MT5 is used by advanced traders from time to time to determine where the price of an asset may be heading.
Assessing the DOM window in MT5 is straightforward and can be done either through the chart menu, using a keyword shortcut, or through the market watch menu.
Market depth relates to trading inside a single security and takes into account the entire volume and breadth of open orders, bids, and offers. The deeper the depth of the market, the more buy and sell orders there are—as long as those orders are distributed reasonably equally around the current market price of that security.
Opening the depth of market in MT5
There are 3 different methods available to open the depth of market in MetaTrader 5.
From the MetaTrader 5 home screen, hover to the menu bar and click on the chart menu.
Selecting the “Depth of Market” option will open the depth of market (DOM) window.
It is possible to use a direct shortcut to open the depth of market window in MT5 by using a keyboard combination.
To do this, simply press and hold “alt + B”.
Like the chart menu options, it is possible to view the depth of market window through the market watch window.
Simply right click on the pair you want the depth of market for, this displays the options available.
Like the chart option method, selecting the "Depth of Market” option will open the depth of market (DOM) window.