Order book top levels

Order book top levels shows the largest walls in the current order book: on each side, the price levels that stand out most from the book, as lines across the chart. Below the price are the buy walls (bids), above it the sell walls (asks). This lets you see, without the rest of the book, where someone is waiting with size right now.

Top levels are part of Plus and run on cryptocurrencies.

Turn it on

Top bar → Indicators → Order flow tab → Order book top levels → + Add. Together with the order book heatmap, you see the walls over time and their amounts now.

How to read it

• Each line is a wall in the current book. It starts where the wall entered the list, even if that was before you opened the chart, and runs to the right edge. The larger the wall, the thicker and brighter the line and the longer the bar at the right edge.
• The amount is next to the bar, for example “$12.5M”. The prices of the largest buy and sell walls are on the price axis. When you move the crosshair over a line, the legend gives the side, price and amount.
• A wall is a price level that holds at least twice as much as the levels around it. The evenly dense book at the price is therefore not a wall, but a large wall right at the price is.
• A wall that is merely overtaken by larger ones drops off the list. In the history, its line then ends without a mark.

History

With History you see where walls used to stand: paler than the current ones, from where they appeared to where they went. The history goes back as far as the order book heatmap, even to before you opened the chart:

• Dashed with ×: The wall was pulled before the price reached it. Such orders were often only meant to make an impression (spoofing).
• Solid with a dot: The price was at the wall when it disappeared. It was traded.
• Without a mark: The wall was still standing, but was overtaken by larger ones or was no longer in the range around the price.

A wall is gone when it falls below half of its largest amount. Walls that were on the list only very briefly or were much smaller than the largest one leave no trace. When you move the crosshair over an earlier wall, the legend gives its amount and whether it was pulled or traded.

For earlier candles, the book counts as it stood on average during the candle. A wall that stood for only seconds therefore stands out on a minute chart, but barely on an hourly chart. From the moment you open the chart, the indicator reads the book every second and continues the lines seamlessly.

Settings

Limits

• The indicator reads the current walls once per second, earlier ones from the book per candle. In replay it shows the walls up to the replay point, without amounts at the edge.
• Wide grouping combines nearby orders into one wall, fine grouping separates them.