When you place an order to Buy or Sell cryptocurrency, it is sent to the Order Book as a new record. This widget provides a visual representation of the current liquidity available on the market. The Order Book is dynamic, and updated in real time.
The Order Book for Spot Trading consists of three parts: Buy Orders (or Bids), Sell Orders (or Asks), and Trading History.
By default, asset and cumulative amounts are shown correspondingly to each price level. The Total Value of each record (or Price Level) is the sum of the Order Amount, plus the cumulative amount of all previous orders.
The lowest red value (or best Ask Order), and the highest green value (best Bid Order), have the same Amount and Total amount value.
The default Order Book view can be customized to fit your needs.
For instance, to only view the Asks, select the red burger icon.
If you want to switch to a Bid-only view, choose the green one.
Ask-only and Bid-only views allow customers to see deeper price levels on each side of the Order Book.
Generally, the best bid and ask price can help indicate the nearest possible market price for instant order execution. This means that when you place a market buy order, the lowest ask price will often be executed first among all sell orders.
Conversely, when placing a sell order, the highest bid price is the first to be filled.
Increase/Decrease Precision (“+” and “-” symbols respectfully) allows users to adjust the decimal place at which calculated prices are rounded, to view more or less precise values. Any changed records will be highlighted in their corresponding color (red or green) in the Order Book.
Display Totals & Avg. Price allow users to view the total amount available of a given currency, as well as the average value of open positions in the Order Book. The price levels are calculated for Total and Average values and will appear on a gray background alongside the listings. To adjust the range, just move your cursor.
To adjust the visualization or layout of the terminal, click the gear icon to access Order Book Settings. Here, you can elect to hide additional columns or restore the default settings.
In this window, you can see the latest trade orders completed in a chosen market.
The three columns accordingly show metrics for Price, Amount, and Time. The arrow button allows users to expand the tab to better scroll and view records.
When read correctly, an Order Book can help traders determine the current state and possible evolution of a market. It can reveal imbalances between Bids and Asks, and can help provide clues as to what direction an asset’s value could break.
For example, when bid orders are significantly higher than that of ask orders, it could hint at a potential uptick in price due to increased buying pressure, and vice versa, per the rules of supply and demand.
Traders can also use the Order Book to find potential support and resistance levels. A big cluster of buy orders at a specific price point may suggest a support level, while plenty of sell orders at or near a specific value may be considered a resistance area.
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