The Order Book shows the current market depth for the selected trading pair. The "Market Depth" refers to the ability of the market to keep prices unchanged when undertaking large transactions. The depth seen in the chart reflects the real-time outline of buyers and sellers’ orders awaiting execution at each price point.
The order book is a key tool to analyse the current market situation for each trading pair as it will provide the following insights:
1. Determine the present level of market movement for buying and selling through the size of the orders.
Generally, the larger the entrusted buy order, the higher the enthusiasm for buying and the price will be more prone to rise. Conversely, the larger the entrusted sell order, the higher the enthusiasm for selling and the price is likely to fall.
2. Determine the price fluctuations through the order price difference.
If there is a large difference between the last traded price and the next best available price, it means that a large amount of transactions is being executed at this time and price fluctuations are likely to occur. On the other hand, if there is a small difference between the last traded price and the next best available price, a small amount of transactions are being executed which may lead to less price fluctuations.
Important notes:
The depth chart represents the number of orders pending to be filled. It is possible that traders may cancel the orders before execution, hence predicting the trend completely according to the depth chart may not be possible. Therefore, always trade with caution.
How to read the Order Book
Tap the Arrow icon to expand the order book. This allows you to view the full depth of market activity.
Price
On each trading page, the Red prices in the order book represent the selling price, while the green prices represent the buying price. The price visible in the middle of the order book is the Last Traded Price. The current best ask price (in red) and best bid price (in green) will be located right above and below the Last Traded Price respectively.
For all Spot Trading order books, you will see the Last Traded Price displayed prominently at the top. The color indicates the most recent price direction: green for a price increase and red for a price decrease.
Quantity
The Quantity (Qty) represents the number of contracts at the stipulated price, while the Total represents the accumulated number of contracts accordingly.
The buyer/seller bar that you see at the top indicates the ratio in real time between buyer and seller orders based on order quantity for the specific trading pair.
In the same way, the background red and green bars visible behind each price point shows the ratio of available quantity for each specific price.
Recent Trades
To view the Recent Trades, tap the Chart icon at the top right corner and select the Trades tab located below the chart, you can now view the list of recent trades in real time
In the Trades tab, you will see the latest executed orders in both directions as well as the order quantity and the timestamp:
- Time: The time will be shown in your device’s timezone and this timezone cannot be changed.
- Direction: The directions of the trades, be they Sell or Buy.
- Price: The prices’ colors indicate the direction of the trade: Red is for Sell orders and Green is for Buy Orders.
- Quantity: The quantity is the amount of contract that was effectively executed for each order.
Example
Taking the Spot Trading order book above as an example, here is an example of the information you can retrieve from the order book:
How to Customize the Order Book display
Here are the different ways you can display the Order Book based on your preference:
1. Buy and Sell Orders view
You have the choice between 4 displays of the order book:
- Sell and Buy orders displayed horizontally: This view will be displayed by default.
- Only Buy orders displayed: Only the bid prices will be shown. In this setting, the last trading price will be visible at the top of the order book.
- Only Sell orders displayed: Only the ask prices will be shown. In this setting, the last trading price will be visible at the bottom of the order book.
Note: The selected view will remain as long as you visit a different trading pair under the same product. However, it will go back to the default display when moving to a different page or a different product.
2. Order book decimal places
You can select the decimal places you want to see for the Prices in your order book. Once you have selected the decimal place from the menu, the different price points and their respective quantity will be updated accordingly.
Notes:
— The decimal place for quantity is set by the system and cannot be changed.
— Different decimal places options will be shown depending on the trading pair.