Percentage of pending orders on a currency pair characterizes the number of Buy Limit, Buy Stop, Sell Limit and Sell Stop orders set by trader on Forex. This indicator reflects the readiness of the market to enter positions on a certain currency if the trend goes up.
A key advantage of this indicator is that it is based not on the current market positions, but those about to be opened, i.e. future positions.
The number of pending orders on a currency pair reflects interest of market participants in this pair not currently, but in case the movement starts.
Plentiful pending orders point at the market waiting for a bullish or bearish trend to begin. If the number of pending orders has relatively shrunk, the trend has started.
In InstaForex MetaTrader terminal this type of statistics is displayed in the form of XXYYYYYYY symbol, where XX has the following meanings: