GlossaryOrder book depth (±5%)
Order book depth (±5%)
Order book depth shows, per candle, how many dollars are sitting in the order books within ±5% of the mid price: buy orders (bids) below the price against sell orders (asks) above it. This lets you see which side the liquidity is on, how it shifts over time and whether the price is running into a thin or a thick book.
How to read it
- More bids than asks: There is more buying interest below the price than selling interest above it. If the price falls, it is more likely to meet support.
- More asks than bids: More supply is waiting above the price. If the price rises, it has to work through more liquidity.
- Shrinking depth: If liquidity decreases on both sides, even smaller market orders are enough for large moves.
- Liquidity gets pulled: If bids disappear just before the price falls (or asks before a rise), that liquidity was only for show. The order book heatmap shows exactly where the orders are.
Limitations
- Order book depth is only available for cryptocurrencies.
- Limit orders can be canceled at any time: depth shows intentions, not a guarantee.
- Candles without a measurement stay empty.