In plain terms — The real-time list of who wants to buy and sell at each price. The market «queue» before orders get filled.
The order book shows, at each price level, how much volume waits for execution:
- Bid side — buy orders;
- Ask (offer) side — sell orders.
Best bid and best ask form the top of book; the gap is the bid-ask-spread.
What to read
| Element | Information |
|---|---|
| Depth | Volume stacked at each price |
| Imbalance | More bid vs ask volume → potential bullish pressure |
| Wall | Large order absorbing flow |
The order book is central to volume analysis and order flow — complementary to the candlestick chart, which shows only executed prices.