Order book Order Book
Walls, hidden liquidity, bid/ask imbalances, and order book anomalies in real time. Our four chart indicators show market depth directly on the candlestick chart.
Four glass indicators in SuperChart
Order Book
Shows the total bid and ask volume at different depth levels (up to 60% of the price). The main order book indicator shows where large limit orders are located.
Usage: Look for large walls at nearby levels. If the bid wall is $69K higher than the total selling above, there's strong support.
Order Book Depth Ratio
The bid-to-ask ratio at a given depth. A value above 1 indicates stronger buyers; below 1 indicates stronger sellers. This is a good indicator of short-term imbalances.
Usage: A DR switch from below 0.5 to above 2—a sharp change in pressure. Often a precursor to a 1–3% price move.
Order Book Average
Average order book depth over a period. Smooths out noise, revealing consistent trends in liquidity rather than isolated walls.
Usage: An increase in the average bid and a decrease in the average ask mean that the market is gradually gaining ground, and an upward movement is likely in the works.
Order Book Anomalies
Anomaly detector - large walls that appear and quickly disappear (spoofing) or sharp shifts in the distribution of liquidity.
Usage: A surge in anomalies often precedes sharp movements. Market makers place and remove orders immediately before the action.
What is an Order Book and how to read it
Order Book — is a list of all current buy (bid) and sell (ask) limit orders for a single trading pair. The price moves as takers take turns filling these limits. Therefore, the order book provides the most honest picture: you can see where buyers are willing to pay and where sellers are willing to sell.
The standard exchange frontend only shows the visible portion of the order book (say, 20 orders on each side). Our indicator sees up to 60% of the order book's depth—that's a huge difference. When you see the entire order book, you can see where the real walls are and where liquidity is heading.
We scrape WebSocket channels of exchange order books and store snapshots in our own partitioned database ('depth_data'). This is our unique technological advantage over our competitors—few others store such depth for such a long time.
Glass setups
Large bid wall nearby
A large buy limit order 0.5–2% below the price is a "wall" that will hold the price during a correction. A long from such a wall with a take-profit at the next resistance level is a classic setup.
Large ask-wall on top
A large limit order to sell above the current price is a ceiling. The price will hit it. If the ceiling is cleared without being filled, the seller has changed their mind, and prepare for an upward breakout.
Spoofing
A large wall appears and then disappears after a minute or two without being executed. This is a "scam"—someone was trying to scare or bait the takers. Order Book Anomalies detects such manipulations.
Sharp imbalance
The Depth Ratio changes sharply from below 0.5 to above 2 (or vice versa). This means market makers have quickly moved their orders. This often heralds a 1–3% move toward the dominant side.
Related indicators
Bid/Ask: Spread and Order Book Imbalance
Bid/Ask Ratio is the ratio of the total volume of buy orders to the volume of sell orders at a given depth (usually 2% of the price). A ratio above 1.0 indicates that buyers are crowding in, and the market is locally bullish; a ratio below 1.0 indicates that sellers are putting pressure. TRdesk The ratio is calculated aggregated across several exchanges—a local imbalance on one platform does not distort the picture.
Spread is the difference between the best bid and the best ask. On a liquid BTC This is usually around 0.01%. A widening spread is a signal that market makers are leaving: liquidity is falling, and any large market order will result in increased slippage. In November 2022, during the crash FTX, spread on BTC reached 0.15% - liquidity was withdrawn in anticipation of chaos.
The imbalance in depth shows where large limit orders are located: if the bid is $200M and the ask is $80M, it's easier for the market to move higher. But remember about spoofing: the "wall" can be removed as the price approaches, so check the order book against actual executed trades through CVD.
Ratio above 1.3
A strong buyer predominance. A bullish signal, especially with a rising price. If the ratio is high and the price remains stable, someone big is selling into the market with market orders.
Ratio below 0.7
Sellers dominate: resistance is denser than support, it is easier for the market to move down.
Spread widening
Market makers retreat, liquidity declines. This often precedes a sharp price move.
A sharp change in ratio
A jump from 1.3 to 0.7 in an hour is a strong signal of a change in sentiment. For swings, look at the average ratio over 1–4 hours; for scalping, look at the ratio in real time.
Glass directly on the chart
IN SuperChart All four Order Book indicators can be enabled simultaneously. Walls, imbalances, and anomalies are visible in sync with candlesticks—perfect for scalping and identifying reversal points.
Open on BTC