GKFX offers its clients maximally transparent trading on the Forex market.
For the convenience of traders, the Level II service is available on GKFX ECN. Market Depth is available in the form of a separate application called GKFX.Level2, which significantly expands the possibilities of the popular
MetaTrader 4 platform.
Functionality of GKFX ECN Level II
- Display of the company’s current liquiditygives traders more in-depth information about the market.
- "One-click trading; - significantly improves the effectiveness of traders who rely on quick entry to achieve desired results (scalping, pipsing).
- Creating pending orders.
- Setting the SL and TP values when opening orders.
- Instant volume-weighted average price calculation.
- Close all open orders and delete pending orders (may be done for a particular instrument only).
Description of GKFX ECN Level II
* For limit orders the SL and TP values are calculated based on the price of the submitted order. These values are established as soon as the order is opened.
When a market order is submitted with SL and TP values, it is necessary to take into account that SL and TP orders are not incorporated at the moment the market order is submitted but only after the position is opened and the entry price has been obtained. The procedure takes a certain amount of time during which the price may change. As such, the SL and TP levels may be incorrect relative to the current market price. In this case, SL and TP will not be submitted, and in the terminal log (“Expert” tab) an entry will appear saying that the SL and TP levels are incorrect.
- Order volume in lots. When you click the Buy or Sell button, a market order with the volume as shown in the window is sent to the company. The instrument being traded is displayed in the application’s heading.
- Buy Button. Sends a market order to buy.
- Sell button. Sends a market order to sell.
- Execution of Market orders as Limit orders:
- When "Markets as Limits" is activated, by clicking BUY a limit order will be placed (BUY LIMIT) at the current Ask price and by clicking SELL a limit order will be placed (SELL LIMIT) at the current Bid price;
- If a SL and/or TP is indicated, a limit order will be placed immediately with the indicated SL and TP values;
- When the "Markets as Limits" is not activated, when you click BUY or SELL a regular market order will be sent;
- Sending a Market order as a limit order will guarantee the execution price (no worse than what was indicated ), but does not guarantee that the order will be executed.
- Current spread for the instrument being traded.
- Volume-weighted average buy price.This price is calculated based on the chosen volume and instrument and the liquidity of the market. This price is indicative and is for informational purposes. The final price may differ from the one calculated.
- Volume-weighted average sell price. This price is calculated based on the chosen volume and instrument as well as the liquidity of the market. This price is indicative and is for informational purposes. The final price may differ from the one calculated.
- Choice of type of pending order for buy or sell.
- Price at which Stop or Limit order is placed.
- Submit Limit order Buy or Sell at the indicated price with SL and TP values set (not required).
- Submit Stop order Buy or Sell at the indicated price with SL and TP values set (not required).
- Stop Loss level, displayed in pips*.
- Take Profit level, displayed in pips*.
- Volumes corresponding to the Ask price (shown in lots in MT4).
- Ask price - Price at which clients open buy orders. The Company always strives to provide the best possible prices for the client by using several liquidity providers (description of GKFX ECN).
- Volumes corresponding to the Bid price(shown in lots in MT4).
- Bid price - Price at which clients open sell orders. The Company always strives to provide the best possible prices for the client by using several liquidity providers (description of GKFX ECN).
- Aggregate liquidity volumes corresponding to the Bid price Bid (shown in lots in MT4).
- Aggregate liquidity volumes corresponding to the Ask price (shown in lots in MT4).
- Close all open orders (including deletion of all submitted pending orders).
- Close all open orders (including deletion of all submitted pending orders) for a chosen instrument.
- Change the appearence of market depth window - Capability of hiding unused modules of GKFX.Level2.Advisor Market Depth.
- Quotes provided in Level II are indicative. The final price of the trade may be either more or less favorable than the indicative price.
- Each click of the Buy or Sell button sends an instruction to the trading server. If after clicking the button you don’t see the position in the list of open positions, before continuing to trade you should check the Market Depth log. If the information provided in the log is insufficient, we recommend getting in touch with us. The application keeps a record of all logs in the file directory: C:\Users\%USERNAME%\AppData\Local\AMTS Solutions\AMTS_Level2\logs\%LOGIN%-%SYMBOL%-%DATE%.log
Setting up GKFX.Level2 Market Depth
The GKFX.Level2 application is compatible with Windows Vista and later versions.
The following video demonstrates how to set, configure and run depth of market (Level II) in GKFX ECN.
Customizing the appearance
For convenient data display in Level II GKFX ECN, the application offers several options for customizing the display. For this, the standard mechanism of setting up experts or indicators is used.
Parameters and Values
|Parameter||Possible Values||Default Value||Description|
|Max_Market_Depth||1-16||10||Displayed depth can be possibly limited. Maximum depth setting does not guarantee that AccessServers will display that depth. AccessServers give the maximum possible depth to which they have access. For non-liquid instruments, this may only be a few bands. When an invalid setting is chosen, Max_Market_Depth will automatically be set at the maximum possible level.|
|Default_Amount||min 0.01||0.01||The volume which is used for volume-weighted average price calculations and for one-click tradingк.|
|Window_Transparency||0.01 - 1.0||1.0||Transparency of the window. 1 – standard window. The lower the value, the more transparent the window being displayed.|
|Button_Up_Color||сolor||MediumBlue||Color of the button if the new best Ask or Bid price > the previous price.|
|Button_Down_Color||color||FireBrick||Color of the button if the new best Ask or Bid price < the previous price.|
|Button_Text_Color||color||White||Color of the text of a quote displayed on the buttons.|
|Table_Asks_Color||color||C'227,240,255'||Color of the Ask table with bands.|
|Table_Bids_Color||color||C'255,236,236'||Color of the Bid table with bands.|
|Table_Background_Color||color||White||Background color of the table (for empty fields).|
|Table_Text_Color||color||Black||Color of the text in the table (price and volume).|
|Support_Vs_Resist_Level||min 0.00||0.0||If bands with large volumes need to be highlighted, you can indicate the volume and if an equal or larger volume than the indicated one is present, the band will be highlighted in the chosen color (this can be used to help visualize the display of levels with large volumes, which may be interpreted as support or resistance levels). If there’s no need to highlight the levels, this parameter should be left at 0.0.|
|Support_Vs_Resist_Level_Color||color||SpringGreen||Color of the band which may indicate resistance or support levels.|
|Is_Docked_Window||true, false||true||If Is_Docked_Window=true, the Market Depth interface will be aligned strictly to the X-Y axis of the chart. Otherwise, the Market Depth interface is opened as a separate pop-up window which can be dragged freely across the screen.|
|Window_Position_X||5||Market Depth window position on the chart relative to the X-axis (if Is_Docked_Window=true)|
|Window_Position_Y||105||Market Depth window position on the chart relative to the Y-axis (if Is_Docked_Window=true)|
|Create_Snapshots||true, false||true||When the Buy or Sell button is clicked, a screenshot of the Market Depth at the moment of the click is saved in the following folder C:\Users\%USERNAME%\AppData\Local\GKFX\Level2\
screenshots\%LOGIN%-%SYMBOL%-%DATE%_%TIME%.bmp This function allows users to compare the price at which their trade was actually executed with what they had expected. .