Documentation

The Terminal needs 64-bit Windows 10 or 11. The installer is about 20 MB and installs into your user profile, so you don't need administrator rights. There is also a portable zip. You can get both from the download page.

1. Download the installer and run it.
2. The beta isn't code-signed yet, so Windows SmartScreen warns that the publisher is unknown. Click More info and then Run anyway. If you want to check the file before you run it, compare its SHA-256 hash with the one on the download page. In PowerShell, type Get-FileHash followed by the file's path to print the hash.
3. The Terminal opens maximised on a loading screen that lists each part as it loads. It loads price data first, then your layout, CME gaps and dealer gamma, volume profiles, sentiment, liquidity zones and order books, and the chart last. If it is still loading after 20 seconds, press Esc to open the Terminal anyway.

Updating

We post each new version on the download page with its checksum and list it in the changelog. The app doesn't update itself yet. To update, download the new installer and run it.

Closing and removing it

When you close the window, the Terminal's recorder keeps running in the background so that the newest bars have no gap when you come back. File › Quit does the same thing, and its tooltip says so. To uninstall, use Windows Settings › Apps or run Uninstall.cmd in the app's folder.

The free version works without an account. You need to sign in to scan tokens or to use a paid plan. The app links to your account with a one-time device code, so you never type a password into it.

1. Open File › Account… and press Sign in. You can also find the Sign in button in File › Settings….
2. The app shows a code such as KKBB-HTD4 and opens blockchaingravity.com/account/device in your browser with the code filled in. The code expires after fifteen minutes.
3. Sign in on the website if it asks you to, and then press Approve. If you don't have an account yet, you can create one with your email address and a one-time code.
4. Switch back to the Terminal. It signs in and reloads within a few seconds. The account entry then reads Signed in and shows your plan.

The Terminal stays signed in on this computer when you restart it. Press Sign out in the same place to remove the sign-in. One subscription covers up to two devices, as the terms state.

When you upgrade, the app switches to real-time data without a reinstall. It checks your plan when you come back to its window. If it still shows the free version, press Check my plan in File › Account….

Tools that your plan doesn't include stay in place but are greyed out. The tooltip on each one names the plan that includes it.

The free version of the desktop Terminal has the same tools as Professional, with all data delayed 24 hours. Every chart shows the market as it was a day ago, with the real times of that day, and a badge on the menu bar says so. Professional shows everything in real time.

Each topic on this page has a badge that shows the lowest plan that includes it in real time. Lite tools are in every plan. Professional tools are in both paid plans, and in the free version with the delay. You can find prices and payment options on the pricing page.

Trading is off in the free version, because orders are never placed on prices from a day ago. Professional + Custom API includes everything in Professional and adds the trading panel and the trading tools in the header. The pricing page lists those tools.

• Menu bar. The menu bar runs across the top of the window. It holds the File, Edit, Layout, Panels and Help menus, and your saved layouts appear as tabs next to them. Help › Manual opens this page. The recording pill and the workspace switch sit at its right end. The switch moves between the Trading, Orderflow, SPX, News and Scanner pages.
• Header, first row. This row holds the instrument, its venue menus and every timeframe.
• Header, second row. This row starts with the chart style and then has dropdowns for the footprint, order book heatmap, detections, volume profiles and TPO. The slab on the left of each dropdown turns the tool on or off, and the label opens its settings. The countdown to the next economic release and the Market Control chips sit at the right end.
• The header and the layout tabs only affect the chart, so they only appear on the Trading page.
• Tools rail. The Tools button on the left opens the indicator list, which is grouped into folding sections. The drawing tools have their own column next to the list and stay visible when the list is closed.
• Chart. The indicator rows sit under the price pane, and the CME and OI readouts sit under the indicator rows.
• Docked panels. Panels dock next to the chart. One of them is the trading panel in Professional + Custom API, which you can minimise and bring back with N.
• Status line. The status line runs along the bottom of the window and reports every action. Hover over it to read a long message in full.

A layout saves your whole chart setup under a name. It stores which tools are on, the timeframe, the footprint's row size and cell history, the height of each indicator row, every tool's settings, the chart style and colors, and where the panels are docked. Drawings are not part of a layout, so loading a layout never clears them.

Saving and loading

• Layout › Save Layout… saves the chart as it is now. If you save under an existing name, the new layout replaces the old one.
• Layout › Load Layout lists all your layouts. When you load one, it switches off any tool it doesn't include.
• Layout › Reset to Defaults restores the BGR Default layout and panel arrangement that come with the app. It keeps your drawings.
• If you want the Terminal to open in the same layout every time, tick Default next to that layout in File › Settings… › Layouts.

Tabs

• While the Trading page is open, each layout has a tab on the menu bar. Click a tab to load that layout, or double-click it to rename it.
• Click × or middle-click a tab to close it. This keeps the layout, and Layout › Load Layout reopens it. To delete a layout, click the × next to it in File › Settings… › Layouts.
• Click + to open a new tab with a copy of the chart and every tool switched off.
• Drag a tab off the bar to open that layout in its own window.
• Layout › Dock Layouts shows or hides the tabs.

Layouts are stored on this computer, and every Terminal window on the computer shares them.

File › Settings…

• Background. Choose Gravity, Black, Charcoal or Graphite. Gravity is the default.
• Grid lines. Grid lines are off by default.
• Text size. You can set text from 11 to 16 pixels.
• Bars right of price. This leaves empty space after the last bar so you can draw levels ahead of price. The default is 40 bars.
• Up / buyers, Down / sellers and Accent. These are the colors the whole chart uses to show direction and emphasis.
• Account. This shows your plan and your sign-in. See Sign in.
• Keyboard shortcuts… opens the shortcut editor, and Layouts lists your layouts.

Edit › Preferences…

• Keyboard. This opens the same shortcut editor.
• Themes and Viewport. These hold the same settings as File › Settings… and add the candle style.
• Toolbar. This sets which tools appear in the left rail. Hiding a tool only removes its button, so a layer that is switched on keeps drawing. Extended Drawing Tools turns the TradingView-style drawing toolbar on or off. See Drawing on the chart.

The Edit menu also has Undo, Redo and Undo History for your drawings.

Press a tool's key to arm it, and press it again to put it away. The mouse wheel zooms and dragging pans only while the crosshair is active. While a drawing tool is armed, the chart holds still so you can draw.

Changing them

Open File › Settings… › Keyboard shortcuts… or Edit › Preferences… › Keyboard. Click a key and then press the new one, adding Ctrl or Shift if you want. Esc cancels the change and Backspace turns the shortcut off. If two actions share a key, both turn red, because only the first one would fire. The double-click gesture can only be turned on or off. Shortcuts never fire while you are typing.

Docking

• The Panels menu lists every panel you can dock next to the chart, including each section of the Orderflow and SPX workspaces. Tick a panel to dock it.
• Drag a panel by its title bar to any side of the chart. A preview shows where it will go. A panel can sit against the chart, stack with another panel or run along the outer edge. Press Esc to cancel the drag.
• The minus button on a panel collapses it to its title bar. The × button hides it, and the panel comes back in the same place when you show it again.
• Drag the splitter between a panel and the chart to resize the panel.
• The Terminal remembers the arrangement and saves it with your layouts. Layout › Reset to Defaults restores the arrangement that comes with the app.

New windows and more monitors

• Drag a layout tab, or one of the workspace buttons at the right end of the menu bar, off its bar and let go. It opens in its own window on the monitor where you drop it. Dragging Trading opens a second full Terminal.
• Layout › Multi-Monitor Setup… detects your monitors and draws them to scale. Use Choose Layout on each monitor to give it a saved layout or a page (Orderflow, SPX, News or Scanner), and then click Save Multi-Monitor Setup. From then on the Terminal opens them on those monitors every time it starts. It skips any monitor that isn't connected.

The instrument menu shows BTC, which is Bitcoin perpetual futures aggregated across the venues the Terminal records. Other coins are listed as coming soon. Three menus control which venues feed each part of the chart. Two of them sit next to the instrument menu, and the third is in the footprint dropdown.

• Candles use only Binance by default because venues quoted in USD or USDC trade a few dollars away from venues quoted in USDT. An aggregated candle takes its high and low from the extremes across every venue in it.
• Each menu lists every venue with the number of bars recorded for it. A venue with no recording is greyed out and marked not recorded. You can't switch every venue off, because the last one always stays on.
• The recorded venues are Binance, Bybit, OKX, Bitget, Gate.io, HTX, Phemex, Deribit, Kraken, Hyperliquid, MEXC, BingX, Bitunix, Blofin, Crypto.com and Bitfinex.

Professional and the free version both chart every recorded venue and their aggregate. In the free version every chart is delayed 24 hours.

The header's first row has a button for each timeframe. The built-in timeframes are 10s, 30s, 1m, 3m, 5m, 10m, 15m, 30m, 45m, 90m, 1h, 2h, 3h, 4h, 6h, 8h, 10h, 12h, D, 2D, 3D, W, 2W, M, 3M, 6M and 12M, and you can add your own.

• Bars are cut in UTC. Weeks start on Monday and months are calendar months. 3M bars are quarters that start in January, April, July and October.
• When you press a timeframe, the Terminal underlines it and moves a thin bar across the top of the chart while it loads. The old candles stay on screen until the new ones replace them all at once, and the chart keeps your place in time. To cancel a switch, press the timeframe that is currently drawn.
• The last three timeframes you viewed in the past ten minutes redraw instantly.
• If you scroll left past the oldest bar, the chart loads two more weeks of history after a short pause.

Adding your own

Click the + after the last timeframe and type a number and a unit. The units are s, m, h, D, W and M. Lower-case m means minutes and upper-case M means months. 7m, 2h, 5D and 2W all work, and so do words such as 2 hours. The box shows what it will add before you press Enter, and the new button goes in order among the others.

• The Terminal writes each timeframe in its largest whole unit. 60m becomes 1h and 24h becomes D, and both of those already exist.
• Bars under a minute are built from ten-second bars, so you can choose 10s, 20s, 30s, 40s or 50s. The longest timeframes are 52 weeks and 12 months.
• The box lists the timeframes you have added, and each one has an × that removes it. They are stored on this computer.

Under a minute

Sub-minute bars are built directly from recorded trades without one-minute candles in between, and they go back about four hours. Use them to read an auction in detail. Liquidations land in the first second, so a ten-second candle with open interest next to it shows whether a move was a cascade or traders opening positions at the level. For this reason, switching to a sub-minute timeframe turns on the open interest row as bars. Sub-minute timeframes are part of Professional.

The first dropdown on the header's second row sets how bars are drawn. The Terminal remembers your choice and saves it with your layouts.

Heikin Ashi, OHLC bars and Line can't be drawn under footprint cells, so selecting one of them turns the cells off.

Vector candles

Vector candles use the Traders Reality (PVSRA) method of reading volume. Each candle is compared with the ten candles before it.

• Climax candles have at least twice the average volume of those ten, or the largest range × volume among them. They are bright green when up and red when down.
• Rising candles have at least 1.5 times the average volume. They are blue when up and violet when down.
• All other candles are drawn in your normal up and down colors.

The vector colors are fixed, so a climax candle looks the same on every screen. The first ten bars on the chart have no history to compare against, so they are always drawn as normal candles.

The grey badge on the price axis shows the last price and the time left until the current bar closes. The time reads MM:SS under an hour, H:MM:SS under a day, and days and hours after that. Close times use the same bar boundaries the server builds bars with, so weekly and monthly bars count down to the exact close. The badge is hidden when the last price is outside the visible range. The SPX workspace has the same badge, and it reads closed outside trading hours.

Indicators such as open interest, CVD and RSI draw in rows under the price pane. All rows work the same way.

• Handle. The handle at the top-left of a row shows its name. When two or more rows are on, it also has ▲ and ▼ buttons that move the row up or down. Open interest, Net Short/Long, CVD and delta also get a line / Δ bars switch here. Δ bars show the change over each candle, and the line shows the running level.
• Resize. Drag the divider between two rows to resize them. All rows together can take up to 45% of the chart, so the price pane always stays visible.
• Hide all rows. Press Space or the ▴ rows button at the bottom-left of the price pane to hide every row. Press it again to bring back the rows you had on.
• Blank row. If you drag a row's price axis, the row stops following its data. Double-click inside the row to refit it.

The Terminal remembers the order and height of the rows, and it saves the heights with your layouts.

• CME readout. This readout sits under the left side of the chart. It shows how far behind the CME Bitcoin futures feed is, whether CME is open and how many CME gaps are unfilled. See CME gaps.
• OI readout. This readout sits under the right side of the chart and shows the health of the open interest feed behind the positioning rows. OI live means the feed is current, and the readout then lists the newest sample's age, the contracts covered and their share of open interest. OI LAGGING turns amber once the newest sample is more than 30 seconds old. The readout turns red when the rows are out of date and gives the reason. The reason can be that the live open interest recorder is not running, that it records none of the contracts being summed, that its newest sample is minutes old, or that no venue published open interest near the end of the data. The cross-exchange feed publishes open interest about a minute after price, so the Terminal fills the newest minutes from the venues' own readings and the readout says how many minutes it filled this way. The readout updates while an open interest row is on.
• Recording pill. The pill at the right of the header reads recording with the number of live streams while the market recording behind the chart is running. It turns red when the recording is not running.
• Status line. The status line at the bottom of the window reports every action and shows errors in the down color. Hover over it to read a long message in full.

The drawing column on the left holds the Terminal's own drawing tools as icons. When Extended Drawing Tools is on, a TradingView-style toolbar sits at the top of the column with trend line tools, Gann and Fibonacci tools, patterns, shapes and annotations. Those tools work the same way they do on TradingView, so this page doesn't cover them. You can turn them off in Edit › Preferences… › Toolbar.

Working with drawings

• While a tool is armed, the chart holds still so that dragging draws instead of panning. After you place a drawing, the tool returns you to the crosshair. You can also double-click the chart at any time to return to the crosshair.
• With the crosshair, click a drawing to select it. Drag it to move it, or drag a handle to reshape it. Press Delete to remove it. Ctrl+Z undoes up to a hundred steps, and Edit › Undo History lists them.
• Right-click a tool's icon to set its color, width and style.
• Bin. The bin at the bottom of the rail asks what to remove. You can clear every drawing, or every drawing together with order boxes and alert levels. Ctrl+Z restores either one.
• Lock. When the extended toolbar is on, Lock all drawings is at the bottom of that toolbar. When it is off, the padlock is at the top-left of the chart. While drawings are locked, panning and clicks pass straight through them, and the tools can still place new ones.

The Terminal saves drawings on this computer as you make them and restores them when it opens.

The footprint breaks each candle into price rows. Each row shows how much traded at that price and which side was the aggressor. Volume sold into the bid, where the seller was the aggressor, is on the left. Volume bought from the ask, where the buyer was the aggressor, is on the right. The footprint is on by default.

How to use it

• The slab on the left of the header's Footprint bar turns it on and off, and the label opens all of its settings.
• Row size sets the price height of each row. You can choose $100, $50, $25 (the default), $10, $5, $2.50, $1, $0.50 or $0.10. This only changes the display, because trades are recorded at every tick. Each row holds the trades from its price up to the next row, and its bottom edge sits on its price.
• Cell history sets how far back cells are drawn. You can choose 1d, 7d, 30d, 90d or max. Older bars still appear as candles.
• Venues sets whose trades are added up in the cells, and it is at the bottom of the dropdown. See Instrument and venues.
• When Candles when zoomed out is on, bars narrower than 16 pixels draw as normal candles, and the cells come back as you zoom in. Numbers appear once the rows and bars are large enough to fit them.

Views

Shade by sets whether the depth of color shows total volume or delta. Scale sets what the shading is measured against. Adaptive shades each bar against its own busiest row, so quiet bars stay readable. Visible area shades every bar against the busiest row on screen, so you can compare bars by color, and the scale changes as you zoom. Fixed shades every bar against a peak you set.

Candle outline draws the candle's body and wick over the cells. PVSRA strip shows the vector candle color as a thin strip at the bar's left edge. Both are on by default. Mark partial bars flags the bar the recording started in, because its cells cover only part of the bar's time. That bar gets a dashed outline and a hatched corner. Its candle, volume and delta cover the whole bar, but its cells only cover the part that was recorded trade by trade.

Cells

• Volume clusters sets the color for that view. It is separate from the point of control color.
• Volume filter hides the numbers in rows that traded less than a size you set, counting bid and ask together. Turn on Hide their cells too to hide those rows completely so the important rows stand out.
• Highlight large tints the rows with the most volume. It can highlight every row over a set size, or the top few rows in each bar with Top in bar, which includes ties.

Imbalances

• An imbalance is measured diagonally, because that is how the auction trades. Buying at a price is compared with selling in the next lower row, and selling at a price is compared with buying in the next higher row. By default a row is marked when one side is at least three times the other and the stronger side has at least 0.5 BTC. Buy imbalances are green and sell imbalances are red. A row that qualifies both ways at once is left unmarked. That happens when its buyers beat the next lower row and its sellers beat the next higher row.
• When three or more consecutive rows are imbalanced on the same side, they are stacked. A stack means one side overran the other across a price range. Any row that isn't imbalanced ends a stack, and so does a row that qualifies both ways.
• Drawn as sets the style. Outline draws a border round the winning side and makes it thicker on stacked rows, and Stacked width sets how thick. Tinted numbers shows the winning side's figure in bold in the imbalance color and underlines it where the rows are stacked. It only appears where numbers are drawn. Filled cell fills the cell. The Imbalances switch hides all of them.
• Ratio, Min volume and Stack change the rule. Ratio runs from 1.5× to 10×, Min volume from 0 to 25 BTC and Stack from 2 to 8 rows. Default restores the standard rule of 3×, 0.5 BTC and 3 rows. With a custom rule, the server marks the rows again for your chart only. The stacked imbalance and imbalance support marks in Detections always use the default rule, so with a custom rule the marks and the outlines can disagree. The status line names the rule in use.
• Stacked zones extends each stack to the right as a band until a later candle trades back into it. By default it only shows stacks that price hasn't returned to. The Imbalance support detection reads the same stacks and marks a return that holds.
• Imbalances are calculated at the row size you are viewing, so changing Row size changes which rows are marked.
• Bars older than the recorded trades take their rows from the Binance USD-M archive. Their imbalances, point of control and value area are calculated from those rows with the same rules. On the aggregated chart those older bars carry Binance's rows only. The status line counts them, and the readout under the cursor flags each one.

Point of control and value area

• The point of control is the row with the most volume in the bar. You can mark it with a short yellow Strip next to the row, a Box round it or a Row fill. Width sets the thickness of the strip or box.
• Naked POCs extends each bar's point of control to the right as a line until a later candle trades through it. A candle trades through a price when its range from low to high covers that price. The line sits at the point of control's price, which is the bottom edge of its row, and the TPO and volume profiles draw their levels in the same place. By default only untouched lines from the last 200 bars are drawn. Turn off Untouched only to show the touched lines as well. Touched lines are dotted and end at the candle that hit them.
• Value area draws each bar's own value area. The value area is the set of rows that holds 70% of the bar's volume, built outward from its point of control. It is drawn as an outline from VAL to VAH or as dimming on the rows outside it.

The numbers

Show sets what the cells display, and every figure is in BTC. The choices are Bid and ask, Total volume, Delta, Volume + delta and Open interest. Volume + delta shows the row's total and then its delta in the winning side's color. Format sets how numbers are written. Auto uses two decimals under 10, one decimal under 100, whole numbers up to 1,000 and the 1.2K style over that. Fixed decimals uses a set number of decimals. Abbreviated uses the fewest characters (.45, 4.5, 45, 1.2K) to fit narrow bars. Bid numbers and Ask numbers set their colors. Open interest is written once per bar at the bar's point of control, in one of four forms.

• Total shows the open interest at the bar.
• Change on the bar shows how much open interest rose or fell during the bar.
• Created / removed shows the same change written as “+X open” or “−X closed”.
• Est. long / short exits only appears where open interest fell. If the bar closed up, the drop is read as shorts exiting, and if it closed down, it is read as longs exiting. This is an inference, so it carries a ~.

The open interest figures come from the same data as the open interest row, which loads while that row or Net Short/Long is on. Candle stats above each bar shows each candle's total volume and delta along the top of the price pane.

The order book heatmap shows resting limit orders at every price over time, rebuilt from each venue's own order book feed. You can see where a wall stood, how long it stayed and when it was pulled. Everything on the heatmap is measured from recorded books and nothing is modelled. It draws under the candles.

How to use it

• The slab on the left of the header's Heatmap bar turns it on, and the label opens its settings.
• Heatmap row ($) sets the price height of each row to $25, $50 or $100.
• Books are grouped into three layers. Perpetuals covers Binance, Bybit, OKX, Bitget, HTX, Gate, Bitunix, BingX, Crypto.com, Deribit and Phemex. Hyperliquid is a layer of its own. Spot covers Binance, Coinbase, Kraken, Bybit, OKX, Bitget and Bitstamp. You can turn each venue on or off.
• Each layer has a floor, which is the smallest summed size in BTC that it draws. Most of any book is small orders, and the walls are what you want to see. The floors default to 250 BTC for perpetuals, 1,000 for Hyperliquid and 50 for spot. If you lower a floor, the Terminal reads that layer's recorded history again at the new floor once the slider stops, so the older part of the picture shows the same detail as the newest part.
• Each layer has two colors. The first is for its smallest drawn size and the second is for its largest.
• Hide within % of price blanks a band on each side of price so the candles stay readable. It is measured from each column's own mid price, so it follows price back through history.

Contrast

• Upper cutoff is the size at which a cell reaches the brightest color. It is set as a percentile of the layer's cells at or over its floor. The default is 99.9, so one outlier doesn't darken everything else. If you lower it, more walls reach full color. At 100, only the single largest cell does.
• Lower cutoff hides cells fainter than that share of the color ramp, which is 5% by default. The floors already remove most small cells, so this matters most when a floor is turned down.
• Contrast curve sets how size maps onto the color ramp. Values under 1 lift mid-sized orders so they stand apart, and the default is 0.42. At 1 the mapping is in straight proportion, and only the largest walls stand out.

Reading it

• Venues in the same layer are added together at each price. Perpetual and spot books are never added together, because a perpetual book reflects leveraged positioning and a spot book holds coins someone actually owns.
• Each column shows what was resting during that minute. Columns are not running totals, so a small order that sits still never grows into a wall. Where several columns share one pixel, the largest value is drawn.
• Brighter cells are bigger. Each layer is scaled to its own cells at or over its floor, up to the upper cutoff. Intensity brightens or dims the whole layer.
• Size labels print the size in BTC, summed across the layer's venues, wherever a cell is large enough to hold the number. Only walls of at least labels only cells of that size or larger. Set it to 0 to label all of them.
• When you turn the layer on, the price axis widens once to fit the book, up to 10% either side of price.
• A line in the dropdown says whether the heatmap is drawn on your graphics card. If the card can't be used, the heatmap is drawn on the processor and the line says why.

Reading aids

There are four switches under Reading, and all of them are off by default.

• Keep a level's whole run. If any minute of a price's resting stretch clears the layer's floor, every minute of that stretch is kept. A level that hovers near the floor then draws as a line instead of dots. A minute where nothing rested still ends the run.
• Mark where fewer venues are in. This draws a thin strip along the bottom of the chart wherever fewer of the layer's venues have a book than at its fullest. The strip is in the layer's color and shows a count. A layer is a sum, so a venue missing from the record makes the layer look thinner there even though the market hasn't changed.
• Hover readout. This shows the time and price under the pointer, each layer's resting size and row size in that cell, which venues it is summed from, how many of them have a book in that column and how long ago the column began. If a cell is under the floor or has nothing resting, the readout says so.
• Current book at the right edge. This draws each layer's newest book as bars against the price axis, scaled to that layer's largest row, and shows the book's age over it. It is drawn separately from the heatmap, which never extends past the newest candle. A venue whose newest book is more than three minutes behind the rest of its layer is left out, and the readout counts how many were left out.

These three maps show things that no order book can show, and all three are measured from Hyperliquid's account data. Hyperliquid publishes every account's positions, so the prices where its traders get liquidated are known. Their resting take-profits and stops are visible too. This matters because a trigger order doesn't appear on any book until its price is hit.

How to use it

• In the header's Heatmap dropdown, under the Hyperliquid layer, turn on Liquidations, Take-profits or Stops. Each one works by itself, with or without the order book.
• When you turn one on, the price axis fits to its clusters, up to 10% either side of price.

Reading it

• Liquidations are red where longs get liquidated with a forced sell, and green where shorts get liquidated.
• Take-profits are cyan and stops are amber.
• Brighter areas are bigger. These maps draw over the order book.
• The status line shows what each map was built from. It gives the number of accounts, their share of Hyperliquid's open interest and the age of the oldest reading.

The accounts are read in a rolling sweep. Each account is read at a different time, and some are never read. We find accounts in Hyperliquid's trade feed and read them one at a time within its rate limit, and we read larger positions more often. Data for small accounts can be hours old. An account that has never traded BTC isn't seen at all.

The liquidation heatmap draws bands across the chart where leveraged positions would be forced out. It is a model, and it is labelled as projected. It shows where liquidations should sit. The liquidation histogram shows the liquidations that actually happened.

In the free version the liquidation heatmap is Professional's map as it stood 24 hours ago. Bands that formed since then aren't drawn yet, and every band ends at that moment.

How to use it

• Turn it on in the rail. A thin bar runs across the top of the chart while the map loads. The first load takes a moment.
• The axis fits once to the standing bands, up to 10% either side of price.
• Densest rows shown draws only that share of the rows on screen, starting with the densest. Lower it to see sharp zones, or raise it to see the whole field.

How the model works

• The model reads recorded open interest one block at a time, at the resolution the record holds. The oldest part of the record, going back to April 2020, is daily. Later stretches are in twelve-hour, four-hour and one-hour blocks, and the last few weeks are in fifteen-minute blocks. For each block the model takes the rise or fall in open interest on each venue and which side was trading aggressively. It treats the change as positions opened or closed on that side, and gives each newly opened position the liquidation price its leverage implies. Longs liquidate under their entry and shorts over it. A close removes its share of the open interest recorded at that moment.
• The map starts where recorded open interest starts. A block with a missing reading places nothing, and nothing is put in its place.
• Across the whole record, a band lasts until Binance's BTCUSDT perpetual trades through it. That is the candle the chart draws and the one the archive is built from. A wick printed only on another venue doesn't end a band. A minute with no Binance candle ends nothing, and no other venue's price is used in its place. The color of a band shows its size.
• Bands fade in two ways. With age, they fade in a straight line to 5% over six months. With distance, they lose 2% of their opacity for every 1% that price moves away, and they don't regain it when price comes back. However far a band fades, it keeps 5% of its own strength, so a large faded cluster still shows more strongly than a small one.
• A dim base layer is built from price structure alone, using levels that were tested again and again without breaking. It covers the whole record. A level only counts from the bar that confirms it, which comes fifteen bars after the level prints, because nothing could know the level existed before then. From that bar on, the bands immediately beyond the level are drawn raised, up to twice their size.
• Amber ticks at the right edge mark bands that have recorded resting orders in front of them.

Layers and fading

• Structure base layer is on by default and draws the dim zones from tested levels. Their sizes are a weighting and are not in BTC.
• Resting size facing a band is on by default and draws the amber ticks.
• Standing bands only is off by default. It hides every band that price has already traded through. A band that is still standing keeps its full history.
• Fade with age and Fade with distance from price are both on by default. Turn either one off to see each band at the strength its size gives. This only changes the drawing and leaves the model as it is.

Reading aids

These are all off by default.

• Cumulative profile at the right edge. This shows every standing band as a bar against the price axis, with longs under price and shorts over it. A line shows the running total from price out to the edge of the view, either in modelled BTC or As drawn with the fades applied. The base layer is left out because its sizes are not in BTC.
• Label the largest standing bands. This labels the largest few bands on screen (3, 5, 10 or 20) with their price, modelled BTC, side and distance from price. A band within one label's height of a larger band is left without a label.
• Hover readout. This shows the band under the pointer with its longs and shorts in modelled BTC, the age and distance fades applied to it, when it stood, and the resting orders in front of it where a recorded book reaches.

The labels, profile and readout remove the raise a band gets beyond a tested level, so their BTC figures are what the model placed there. They also note when a band is drawn raised.

Model in force in the gear menu lists what the map is built on, as the server reports it. It shows the leverage range and maintenance margin, the two fades, and where the map begins and why. It also shows where measured open interest begins, the resolution each stretch is read at, how many blocks in the record had a missing reading and which gaps were longest, and whose candle ends a band and how many minutes had none. You can't change these values.

This map is a model. The leverage mix it uses is assumed and has not been measured, and the map has not been forward-tested.

This row shows Bitcoin perpetual open interest in BTC, summed across the markets of the exchanges ticked in the header's Orderflow menu. All exchanges are ticked by default, and the row is on by default.

• Draw as has three modes, and you can set it in the row's settings or on its handle. Line shows the level. Bars of change show the change over each candle. They are green where open interest rose because positions opened, and red where it fell because positions closed or were liquidated. Candles show the open, high, low and close of the summed open interest as sampled within each candle. Where the data is coarser than the chart, one bar spans all the candles it was measured over.
• Open interest candles are only drawn where a chart candle contains two or more readings. That rules them out on a 1m chart, and on a 15m chart once the zoom reaches fifteen-minute data. The status line tells you when no candles can be drawn, and the axis label names the sampling, for example sampled 1m. Open interest between two readings is unknown, so nothing is drawn for it.
• Contracts selects all perpetuals, only stablecoin-margined ones or only coin-margined ones. Coin-margined contracts are dollar amounts converted to BTC at each close, so their open interest changes when price moves even if no position opens or closes.
• The line's Units are BTC or USD. USD is each reading times that candle's close, so it rises with price even when no new positions open.
• The bars' Color by option is up / down or Price & OI. Price & OI uses four colors for how price and open interest moved together over the bar. Price up with OI up means longs are opening. Price down with OI up means shorts are opening. Price up with OI down means shorts are covering. Price down with OI down means longs are closing. The side that opened or closed is inferred from that pair, because no venue reports it.
• The bars' Units are BTC or % of OI, which is the change as a share of the open interest before it.
• OI divergences is off by default. It draws each open interest divergence that Detections marks on price, with a line from the reading at the earlier swing to the reading at the later swing. It follows the Detections switch for that kind and the Detections layer itself, and it only works in line mode.
• The resolution of the data follows your zoom. Views up to about half a day use one-minute readings, and wider views use fifteen-minute readings. Each reading is drawn on the candle it was taken in.
• On 10s and 30s charts the row is built from ten-second readings of sixteen contracts and covers the last hour.
• The OI readout under the chart shows how current the data is, how many contracts it covers and their share of open interest. See Readouts.

This row splits open interest by who opened it. The long side is positions opened by aggressive buyers, and the short side is positions opened by aggressive sellers. It is on by default. It is different from an exchange's long/short account ratio, because Net Short/Long is calculated bar by bar and venue by venue from open interest and aggressive flow together.

• Each side is a running total in BTC that starts from the same zero point as the CVD row. Depending on the timeframe, that is the start of the hour, the UTC day, the week and so on. A side's level is what it has opened minus what it has closed since then, and it stays the same as you zoom. If the data doesn't reach back to that start, the first reading is used as zero and the status line says so.
• On 3m to 1h charts the zero is 00:00 UTC. If your view alone would read one-minute data, the sides load a full day of it. This keeps the zero at one-minute resolution all day instead of switching to fifteen-minute data after midday.
• The split is calculated for each reading, so the level can differ slightly between one-minute and fifteen-minute data. A fifteen-minute change is attributed using the flow over those fifteen minutes.
• Panes puts both sides in one pane (the default) or gives each side its own pane.
• Draw as sets lines or bars of change for both sides at once, and the row's handle switches it too. In bars, green means that side grew, so on the short side green means shorts opened. The bars' Units are BTC or % of OI, which is the change as a share of total open interest before it.
• Contracts selects all perpetuals, or only stablecoin-margined or coin-margined ones, the same way it does for Open interest.
• Accounts long % is off by default. It adds a dotted line on its own scale that shows the share of accounts that are long, weighted by open interest, from the venues that publish it. The coverage is written next to the line, for example 6 of 20 venues. It comes from a fifteen-minute feed. It counts accounts while the two sides count contracts, so the two measures differ.

This split is inferred. No venue reports who opened which position, so the split is worked out from open interest and the aggressor side together.

This row draws two lines that show the cumulative volume delta of the spot market and of the perpetual market. Each line is the running total of aggressive buying minus aggressive selling in BTC, starting from the same zero point as the CVD row. Spot has no open interest, so delta is the measure both markets have in common. The row is off by default.

• Watch the direction of each line and the places where they split apart, for example when spot buys while perpetuals sell. The zero stays in place as you zoom. If the data doesn't reach back to it, the first reading is used as zero and the status line says so. On 3m to 1h charts it works the same way as Net Short/Long and loads a full day of one-minute data to keep the 00:00 UTC zero wherever the view would read one-minute data.
• The perpetual line follows the exchanges ticked in the Orderflow menu, the same as open interest. The spot line covers every BTC spot book quoted in dollars or dollar stablecoins.
• Draw as sets CVD lines or Delta bars. Delta bars show each candle's own net flow, summed from the data inside it. In one pane the bars sit side by side from a centred zero, with spot on the left and perpetuals on the right.
• Units are BTC or % of own volume. The percentage is each market's net flow divided by its own traded volume, measured since the zero for lines and within the candle for bars. This lets you read both markets on one scale.
• Perpetuals trade several times the volume of spot, so in one pane each line starts on its own scale. The Combined scale setting puts both lines on one BTC axis.
• Panes puts both lines in one pane (the default) or gives each line its own pane.

We don't claim this row gives you an edge. A basis trade buys spot and sells the perpetual, which pushes the spot line up and the perpetual line down without any view on direction.

Cumulative volume delta is aggressive buys minus aggressive sells, added up bar by bar in BTC. It is calculated from the chart's own bars, so it follows the chart's timeframe and the venues summed into the footprint.

• When Zero at is set to Auto (the default), the zero sits at the start of a session that suits the bar size. The figure then reads as net buying or selling since that point, and the status line names the session.

• You can also choose UTC day, Week (starting Monday) or Month. If the loaded candles don't reach back to that start, the Auto zero is used and the status line says so.
• Visible range sets the zero at the first candle on screen, so the figure changes as you scroll. Loaded data sets it at the first loaded candle, so it changes as more history loads. Both give readings relative to the view, and the status line says so.
• The line carries on back through earlier sessions without resetting, so older bars can sit under zero. If the loaded bars don't reach the start of the session, the first loaded bar is used as zero and the status line says so.
• Reset each period is off by default. It restarts the line from zero at the open of each period, which gives a session CVD, and it works with Auto, UTC day, week or month. If the loaded candles start partway through a period, that period is left blank so it isn't counted from the middle. CVD divergences in Detections are always found on the unbroken running total.
• Draw as sets Line or Bars, and you can set it in the row's settings or on its handle. The line shows the running total in white, shaded green over zero and red under it. Bars show each candle's own delta, which is the same figure the Delta row shows. Saved layouts keep this choice.
• The settings hold the line's fill on each side of zero, its opacity and its glow. All of them are on by default, so the line looks the way it always has.
• Detections marks CVD divergences on the price chart. The CVD divergences setting is off by default. When it is on, it also draws each divergence on the line, from its value at the earlier swing to its value at the later one. It follows the Detections switches for regular and hidden CVD divergences and the Detections layer itself, and it only works in line mode. With Reset on, a divergence whose swings fall in two different periods isn't drawn.
• The CVD row in bar statistics shows the same figure with the same zero and reset. Net Short/Long and Spot vs Perp always keep the Auto zero, whatever you choose here.

This row shows each candle's own delta, which is aggressive buys minus aggressive sells in BTC. It draws as bars by default or as a line. It is green where buyers were the aggressor and red where sellers were. Both modes show the same figure for each candle. For the running total, use the CVD row. Draw as is in the row's settings and on its handle, and saved layouts keep it.

• Value sets the figure shown. The default is Delta. Delta % of volume is the delta divided by the candle's volume. Buys vs sells shows the two sides separately, with buys drawn up and sells drawn down. They are worked out from the measured delta as buys = (volume + delta) ÷ 2 and sells = (volume − delta) ÷ 2.
• Highlight is off by default and only works with bars. It draws large-delta candles at full strength and fades the rest. A candle qualifies if its delta is at least a BTC amount, or at least a multiple of the average delta size over the candles before it. By default the average covers twenty candles, and a candle is not included in its own average. The test always uses delta in BTC, whichever value is drawn. This only changes the display, and nothing is detected or counted.
• Delta against the candle is off by default and only works with bars. It gives its own color to candles where net buying came on a down candle or net selling came on an up candle. It describes what happened inside the candle and is not a signal.
• The line's color and width are in the row's settings.

Bar statistics is a table under the chart. It has one cell under each candle and one row for each figure. It is on by default and shows Volume, Delta, CVD and Trades, and you can turn on the other figures in its settings. The name of each figure appears in the price axis.

• Buy vol and Sell vol show aggressive buying and selling, worked out from the measured delta. Together they add up to the volume.
• Delta % shows delta as a share of volume.
• POC and POC vol show the price with the most volume in the candle and the volume traded there.
• H−L shows the candle's range.
• Avg trade is volume divided by the number of trades, in BTC. Exchanges count trades differently. Some count each fill and some count each taker order, so on the aggregate this figure mixes counts that don't match.
• OI Δ shows the change in open interest at the candle in BTC or % of OI. It is the same figure the bars of change draw on Open interest, and it loads open interest data even when that row is off.
• Liq $, Liq L $ and Liq S $ show the dollars liquidated in total, from longs and from shorts.

• Each cell is shaded by its size compared with the largest cell for that figure on screen. Color grade stop % sets how faint the smallest cell can get. With Shading off, no blocks are drawn and each signed figure is written in its side's color. The grid's color and opacity are in the settings.
• Signed figures (delta, CVD, open interest and liquidations) use the positive or negative color. Total liquidations take the color of the side that lost more.
• A — means the figure is unknown, and it never stands for zero. You will see it for a POC or POC volume on an archived bar with no rows, and for open interest or liquidations outside the range of the data.
• A figure too wide or too tall for its cell is hidden, but its shading stays. If you have many figures on, drag the pane taller.
• The CVD figure follows the CVD row's Zero at and Reset settings, so the two always match.

The liquidation figures read the same data as the liquidation histogram, which is part of Professional. They also follow its venue and coin-margined settings. They always stay in dollars, whatever unit the histogram uses.

This row shows the perpetual funding rate, which tells you how crowded one side of the market is. Positive funding means longs pay shorts.

• The row shows the settled funding of Binance and Bybit, and each rate is held from one settlement until the next. You can turn off either venue in the settings.
• Units can be % per eight hours (the default), % per hour or APR. APR is the eight-hour rate × 3 × 365 as a simple rate with no compounding.
• Draw as sets Step line or Histogram. The histogram shows each candle's settled rate as a bar in the color of the side that paid, so a settlement reads as a block across its period. When both venues are shown, they are drawn translucent on top of each other. Where they agree the color is solid, and where they differ the edge of the taller bar shows.
• A dashed now line shows the current rate across Binance, Bybit, OKX, Bitget and Hyperliquid, weighted by each venue's open interest. Venues that settle hourly are scaled to eight hours. The line stays visible when Binance is turned off.
• Zero and base rate is off by default. It draws lines at zero and at +0.01% per eight hours, which is the rate Binance and Bybit charge while the perpetual trades close to the index. That rate is a venue convention and does not mark a neutral level.
• Predicted rates is off by default. It shows each visible venue's in-progress rate for its next settlement as an axis label marked pred. The steps themselves are always settled rates. A label only appears where the venue's current rate could be read.
• When you turn the row on, the status line shows each venue's current rate, the weighted rate, its annual figure and the time to the next settlement.

This row is for context only, and we have not measured it.

This row shows Binance's premium index in basis points for each candle. The premium index tells you how far the perpetual trades over or under the index. The row is green at a premium and red at a discount.

• Draw as sets a histogram of each candle's close (the default) or Candles of the premium's open, high, low and close. A rising candle uses the premium color and a falling one uses the discount color.
• Guide lines are off by default. They draw zero and a line on each side of it at a distance you choose in basis points.

Where Binance publishes bars at the chart's timeframe, the row uses those bars. Otherwise it builds each candle from the coarsest Binance bars that fit evenly inside it, taking the first bar's open, the highest high, the lowest low and the last bar's close. Days, weeks and months are built from daily bars. On 10s and 30s charts each one-minute bar is drawn once, on the last candle of its minute.

This row is for context only, and we have not measured it.

This row shows the positions that were forced out in each candle. Long liquidations are drawn up from a zero line and short liquidations are drawn down, and the larger bars are labelled. These are liquidations that happened. The liquidation heatmap shows where they are projected to happen.

• Units can be USD (the default) or BTC. USD is each candle's BTC liquidated times its close, and BTC is the figure the BTC-denominated markets publish.
• The scale is the same on both sides of zero and fits the bars on screen.
• Orderflow venues only is on by default. It only sums the exchanges ticked in the header's Orderflow menu, the same as Open interest and Spot vs Perp. With every venue ticked, that means every recorded exchange. With the option off, every exchange is summed whatever is ticked. Venues are matched by exchange, so ticking one venue of an exchange brings in all of its contracts. The status line names the exchanges summed and any ticked venue that had nothing to sum.
• Include coin-margined is off by default. Coin-margined contracts publish their liquidations in dollars. They are left out unless you include them, and the status line counts them. Once included, they count as published in USD. In BTC units they are converted at each candle's close, and the status line says so.
• Labels are on by default and are placed largest first where there is room. The settings set the smallest figure worth a label in each unit and the font size. Labels use the bars' colors.
• When you turn the row on, the status line shows the totals for the bars on screen and the number of venues covered.
• A candle with nothing drawn either had no liquidations or is outside the range of the data. The Liq $ figure in bar statistics tells the two apart by showing a — where data is missing.

This shows each candle's traded volume in BTC, summed across the same venues as the footprint. Bars are green on up candles and red on down candles.

• Placement puts the bars along the bottom of the price pane on their own scale (the default) or in a row of their own. On the price pane they reach 18% of the way up, and Overlay height changes that.
• Color by can use the candle's direction (the default), the aggressor, the candle's PVSRA vector color where it has one, or the close compared with the previous close. When you color by aggressor, a bar is green where buyers took more than sellers, red where sellers did and grey where they were level.
• Split buys and sells divides each bar in two using its measured delta. Buys equal (volume + delta) ÷ 2 and sit at the bottom in the up color, and sells sit on top of them in the down color.
• Moving average is off by default. Turn it on to draw a line through the average of the last 20 bars. You can choose the length and whether it is an SMA or an EMA.
• Highlight spikes gives its own color to bars at or over a multiple of that average, which is 2× by default. The average includes the bar itself, the same as the drawn line.

This tool draws a volume profile for each day, week, month or other period across the chart's history. Each profile has a point of control (POC), which is the price with the most volume. It also has a value area between VAH and VAL, which is the band that holds 70% of the volume.

How to use it

• Open the header's Volume profile dropdown and press the periods you want. The periods are 1D, 2D, 3D, 1W, 2W, 1M, 3M, 6M and 1Y. You can turn on several at once.
• The slab on the left of the bar turns the period profiles off. Press it again to bring back the ones you had on.
• Periods are cut in UTC. Days start at midnight and weeks on Monday. Months, quarters, half-years and years follow the calendar.

Reading it

• Each period's histogram is drawn over its own time span, starting with the newest, up to the number set in Profiles drawn at once. Set it to 0 to draw only the levels.
• When Extend levels to the right is on (the default), each POC, VAH and VAL continues past its profile. A level that price hasn't traded back through is naked, and it runs bright to the right edge. A level that has been touched turns faint and stops at the candle that touched it. Only untouched levels hides the touched ones.
• Levels are drawn for every period back to 2019, including periods off screen, so an old naked POC is already in place when price gets near it.
• An * over a period means the footprint didn't cover enough of it, so it was built from one-minute candles.
• The status line counts the periods, how many POCs are still naked, and how many were built from candles.

How a profile is built

• Built from sets the source. Footprint (the default) uses the volume actually traded at each price. 1-minute candles spreads each minute's volume evenly across its range and splits it into buying and selling using that minute's delta. Either way, period profiles come from Binance's BTCUSDT perpetual archive, which goes back years. The venues shown on the chart don't affect them.
• The POC is the row with the most volume. If two rows tie, the lower one wins. The value area grows out from the POC two rows at a time, toward the side with more volume, until it holds 70%.
• Rows under Period profiles sets how finely each period is divided. Fewer rows give thicker bars and shift where the POC, VAH and VAL fall. The visible range profile has its own row count, so changing one never moves the other's levels.

The dropdown

• Rows and value area. Row layout divides the visible range and period profiles into a set number of rows (the default) or a fixed price per row from $5 to $100. A fixed price per row puts every row on a round price, so rows line up from one profile to the next. Value area can be set anywhere from 60% to 90% instead of the default 70%. Neither setting changes a range you drag with Fixed range profile.
• Bars. Volume draws each row split into buying and selling (Up / down, the default), as one grey bar (Total) or as Delta. Delta is buying minus selling. It is drawn in the buy color where buyers traded more and the sell color where sellers did, and the longest bar marks the row with the biggest gap. The POC and value area always use total volume, whichever view is on. Opacity fades the bars. Dim outside value area is on by default and draws the rows outside the value area fainter.
• Levels. You can turn the POC, VAH and VAL on and off one by one and give each its own color, width and style. By default the POC is a solid line and the value-area edges are dashed.
• Developing. Developing POC, Developing VAH and Developing VAL each draw a stepped line across every period profile on screen. The line shows where that level stood as the period traded. Each step is calculated the same way as the profile, using only volume up to the end of that step, so the line finishes exactly on the period's own POC, VAH or VAL. Day, 2-day and 3-day periods step every hour. Week and 2-week periods step every four hours. Months and quarters step every day, and half-years and years every week. The period still trading steps the same way and stops at the latest bar. Each line has its own switch, color, width and style. All three are off by default.
• Peaks and valleys. This marks high-volume nodes (HVN) and low-volume nodes (LVN) on the visible range and period profiles. HVNs are the profile's peaks, where the market spent its volume. LVNs are its valleys, where price moved through quickly. An HVN is drawn as a solid line across the profile at the node's row, and an LVN as a dashed line. You can choose HVN, LVN or Both, and the setting is off by default. A row counts as a node when it stands out from the rows around it by at least the Sensitivity. The sensitivity is a share of the POC row's volume and is 20% by default. A lower value finds more nodes. The top and bottom rows are never nodes. A row inside the profile where nothing traded counts as a valley. A peak on the POC's own row is left to the POC line. Finer rows find more nodes at the same sensitivity. At 60 rows and 20%, a daily profile typically has about three peaks and two valleys.
• Labels. Price labels writes each level's price at the end of its line, where the line is long enough. When levels extend past their profiles, only the untouched ones are labelled, and the labels sit at the chart's edge. Profile stats writes each profile's total volume, its delta and the share of its volume over (▲) and under (▼) its POC row on top of the profile. A label that would overlap another is left out.

This is a volume profile of exactly what is on screen, drawn at the chart's right edge. It recalculates a moment after you stop panning or zooming.

• Turn it on in the rail. The shared profile settings hold its width as a share of the chart, its row count (Rows under Visible range) and its Placement on the left or right side of the chart. It also uses the Row layout, Value area and Peaks and valleys settings it shares with the period profiles.
• Press the + next to its POC, VAH or VAL to copy that level onto the chart as a horizontal line. The line stays in place while the profile keeps following the view.
• Its levels only span the profile and don't extend past it.

This draws a volume profile for a span of time you choose. Arm Fixed range profile in the drawing column and drag across the chart. Every price traded between the two times is included, however tall or short your drag is.

• The histogram grows from the left edge of the span. With Extend levels to the right on, its POC, VAH and VAL run to the chart's right edge.
• It always uses the default rows and the default 70% value area, whatever Row layout and Value area are set to. This means a level you take from it never moves. It draws no peaks and valleys or developing lines. Its appearance follows the shared settings, including Volume, colors, level styles, labels and stats.
• It behaves like a drawing. Select it to move it, press Delete to remove it, or press Ctrl+Z to undo. It is saved with your drawings.
• The tool returns you to the crosshair after each profile. Click it again to put it away.

Market Profile shows how long price spent at each level, day by day. Every half-hour that trades at a price adds a block there. Wide parts of the profile show where the market accepted price, and thin parts show where it moved through quickly.

How to use it

The slab on the left of the header's TPO bar turns it on, and the label opens the dropdown. Each profile starts where its session opened. Sessions at the top of the dropdown sets the day boundary. You can choose the UTC day from 00:00 UTC, the CME-aligned day or both side by side.

Reading it

With its default settings, the TPO draws these things.

• Blocks inside the value area are brighter than those outside it.
• Single prints are prices that only one half-hour traded at. They are drawn in their own color. Each one extends to the right as a faint band until a later candle trades through it. A print that is still untouched runs to the right edge with a bright tick at the end.
• The POC is a solid line, and VAH and VAL are dashed. Lines for past days span their own day. The latest day's lines run across the chart.
• A short bracket at the start of each day marks the initial balance, which is the range of the day's first hour.
• PH and PL mark a poor high or poor low, which is a day whose top or bottom row traded in two or more half-hours. The auction stopped there without tapering off, and these levels tend to be revisited.

The dropdown

• Profile rebuilds the profiles. It holds Row size ($5 to $250 a row), Period (5 minutes to an hour per letter), Value area (60% to 90%), Initial balance (the first 30 minutes to the first 2 hours) and the number of Profiles drawn. These change your chart only. Default uses the settings the automatic levels are built with, and the status line tells you which you are looking at.
• Appearance. Style draws each period as a block, or as its letter where a row is tall enough to read one. A is the first half-hour and B is the next. It can also draw one solid histogram bar per row, or split by period with each period's cells under the time it traded. Color by shades the blocks from one color to another across the session (gradient), through the color wheel (spectrum), or highlights the value area.
• Point of control and Value area. Here you set each line's color, width and style, and how far it runs. Until revisited extends a past session's line until a later candle trades through it, which gives a naked POC. Developing POC steps across the session to show where the POC stood as each period traded, and ends at the final POC. Shade the value area fills the band between VAH and VAL.
• Single prints. You can turn off the highlight or the extension to the right. You can also extend every print to the right edge instead of stopping at its fill, hide filled prints, or mark only runs of several adjacent prints.
• Initial balance. The initial balance can be drawn as a bracket, a shaded band or two lines. It can also have extensions at multiples of its range on each side. A day that trades beyond them is a range extension day.
• Marks. You can mark the session's open (▶) and close (◀), its midpoint and its excess tails. An excess tail is two or more single prints at the very top or bottom of a profile, where the auction rejected price. It is the opposite of a poor high or low.
• Labels. Labels show prices at the end of the POC, VAH, VAL and initial balance lines. A line on top of each profile also gives its TPO count, how many TPOs sit over (▲) and under (▼) the POC, and the range of the initial balance.

The Terminal remembers every choice and saves it with your layouts.

VWAP is the session's volume-weighted average price, and it restarts at 00:00 UTC. Each bar's typical price is (high + low + close) ÷ 3, and it is weighted by the bar's volume. VWAP is on by default.

• The line breaks at each 00:00 UTC, so one session's average never joins the next.
• The chart's bars usually start partway through the first session. An average of only those bars isn't that session's VWAP, so it is left out and the status line says so. Show a partial first period draws it dashed and labelled partial.

Options

• Bands. You can draw up to three bands, each at its own multiple of σ, as lines on both sides of VWAP with an optional fill between each pair. Here σ is the volume-weighted standard deviation of the typical price since the anchor. The bands restart with the line, at the session or at any of the anchors.
• Anchors. You can add weekly (from Monday 00:00 UTC), monthly, quarterly and yearly lines next to the session line, each with its own color and style. The same rule applies here. A period whose start the chart's bars don't reach is left out, so on a short chart a monthly or yearly line may have no complete period to draw. The status line names each line that isn't drawn.
• Previous period's close. This draws each complete period's final VWAP as a dashed level. It runs across the next period, or until a later bar's high-to-low range reaches it.
• Hide on daily bars and up. On daily and longer bars each bar is its own session, so the session line would only show that bar's typical price. This option hides it there.

Detections are the marks the chart places on the price pane by itself. The layer is on by default. The slab on the left of the header's Detections bar turns the whole layer on or off. The dropdown lists every kind of mark, grouped by what it reads, and its label shows how many are on.

Each kind has one line in the dropdown with its switch, its name and the icon it is drawn with. All and None next to a section's name switch the whole section. Colors at the bottom of the dropdown sets the bullish and bearish color for every kind.

• Bullish marks sit under price and point up. Bearish marks sit over price and point down.
• Give each kind its own icon so you can tell them apart at a glance. The options are triangle, arrow, dot, ring, square, diamond, star, flag, bolt, target, cross and the kind's two-letter abbreviation. Divergences and sweeps also draw a dashed line back to the point they were compared against. A reading measured to be no better than chance is always drawn as a small hollow ring, whatever its icon.
• Hover over a mark to see what fired, when and at what price, the reasoning behind it, and how strong the evidence is for that kind of reading. We have not measured any of them yet, and the label says so.
• Marks are calculated from the bars on the chart, on 1m and longer timeframes. They are recalculated when the chart reloads, for example after a change of timeframe, row size or venues. While the chart is running, only trapped-trader reads are added live.

A divergence happens when price and an oscillator disagree across two swings in a row. The oscillator is RSI(14) or CVD. The open interest divergence is read at the same swings and is covered with the other order flow reads.

• Swings are confirmed swings measured on candle bodies, and wicks are ignored. Highs are compared with highs and lows with lows.
• An RSI divergence only counts if RSI reached an extreme zone across the pair.
• A CVD divergence needs delta on every bar in between, so it isn't searched for on bars without delta. A hidden CVD divergence reads as absorption, because cumulative delta is pushing against a price that won't follow.

You can also draw the RSI in its own row. See RSI.

A trapped traders mark shows a one-sided auction at the edge of a bar that price then rejected. Near the bar's high (or low), one footprint row traded heavily and almost entirely on one side. By the bar's close, price had moved away from that row. The traders who bought the high (or sold the low) are now on the wrong side of the move.

Reading the diamonds

• A filled diamond with a white outline means open interest rose across the bar, so the aggressors opened new positions that are now trapped.
• A hollow diamond means open interest fell, so the aggressors were closing positions.
• A dotted hollow diamond means open interest couldn't be read for that bar.
• Bigger diamonds are stronger reads. They are graded from very weak to very strong by how one-sided the row was and how much traded in it.

Three settings sit under Trapped traders in the dropdown's Footprint section. Minimum grade hides weaker reads. Size scales the diamonds. Turning off Include reads where OI fell hides the hollow ones. All three are greyed out while trapped traders are off.

Trapped reads need footprint cells, so they only appear on bars the footprint covers.

These marks show key levels and the points where price swept them. All of them are off by default. Turn them on in the Structure & sweeps section of the Detections dropdown.

• Poor highs and poor lows. A poor high or low is an extreme that stood out from the bars around it and was tested at least twice without a clean rejection. It marks an auction left unfinished.
• Previous day high and low. These are the prior UTC day's high and low, marked where price swept them.
• Swing failures. A swing failure is a level swept on real volume and followed by a close back through it. A sweep without a close back through is marked under the level's own name, as swept with no swing failure.

Each mark only appears once its level could have been known, so a level is never drawn before it existed.

These marks read open interest, the footprint and liquidations. Each one has its own switch and icon in the Detections dropdown. The open-interest divergence is under Divergences and the other open-interest reads are under Open interest. Stacked imbalances and imbalance support are under Footprint, and flushes are under Liquidations. All of them are on by default except stacked imbalances, which the footprint already outlines. We have not measured any of them yet. They mark where something happened, and there is no record so far of how often it paid.

• OI divergence. This fires when price makes a new swing high (or low) while open interest is lower than at the previous one. At a high, the rally ran on shorts covering instead of new longs. At a low, the drop ran on longs closing.
• OI squeeze. This fires when open interest falls on the way into a poor or previous-day high or low, which means positions are closing into the level instead of opening.
• OI top-longing. This fires when price takes a high and then open interest rises while price holds over it, which means late longs are opening at the top. Bottom-shorting is the same thing under a low.
• OI delta spike. This marks a bar where open interest moves several times its usual amount. It is read together with price and delta as longs or shorts opening or closing. A squeeze in progress has no direction and isn't marked.
• Stacked imbalance. This marks three or more consecutive footprint rows where one side outtraded the other diagonally, which means one side overran the other across a price range. A row imbalanced both ways at once counts as neither and ends the run, the same as on the footprint.
• Imbalance support. This fires when price leaves a stacked imbalance, comes back into it and closes back out on its side. A buy stack holds as support and a sell stack as resistance.
• Liquidation flush. This marks a bar where one side's liquidations are the largest in a long stretch of bars and are several times their average and several times the other side's. A flush of longs is marked under the bar and a flush of shorts over it.

• Open interest and liquidations are summed across every exchange the data covers, whichever venues the chart is drawing. Each bar is read at the finest resolution available for it. Older bars on long timeframes are read more coarsely.
• Stacked imbalances come from the footprint rows the chart draws, and from the Binance futures footprint for earlier bars. The first time you open a timeframe, older history fills in over a few reloads.

An order block is the last opposite-color candle before price closed through a confirmed swing. It is drawn as a zone from that candle's low to its high and extends to the right until price trades back into it. This follows the ICT definition.

How to use it

1. Open the Tools rail and click Order blocks under Unfinished zones.
2. The status line under the chart shows how many blocks were found and how many are still unfinished. The zones update as each bar closes.

Reading it

• A swing high is a bar whose high is higher than the two bars on each side of it. It only counts once both bars after it have closed.
• The first close over the latest unbroken swing high creates a bullish block. The block is the last down-close candle at or before the low the breaking move started from. A bearish block is the mirror image. A move with no opposite-color candle in it creates no block.
• Unfinished blocks are filled and outlined, and they run to the right edge. They are labelled OB+ or OB− where there is room.
• Once price trades back into a block it is mitigated. Mitigated blocks are hidden unless you turn them on, and then they draw faint and dashed and end at the bar that reached them.
• Only closed bars are used. The bar still forming never creates or breaks a block.

Options

Each option starts at the behaviour described in this topic, so the chart looks the same until you change one.

• Swing length. This sets how many candles on each side define a swing high or low, and so how many must close before it counts. At 2 they are the same swings the rest of the Terminal uses.
• Zone. This sets whether the zone covers the block candle's whole range or only its body.
• Ends when. A block can end when price touches it (mitigated), reaches its 50% level (the mean threshold), closes into it or closes through its far side.
• Only with displacement. This keeps only blocks whose move away left a fair value gap in the direction of the break, because that gap is a sign of a forceful move.
• Breaker blocks. A block that a candle closes through on its far side flips. From that close it is drawn dashed as a BB+ or BB− block of the opposite side until a candle closes back through it.
• Timeframe. This finds blocks on a higher timeframe's candles and draws them on your chart. A higher-timeframe block only appears once the candle that broke structure on that timeframe has closed.
• Count each side on its own. By default the newest unfinished blocks from both sides together are drawn, up to Unfinished blocks drawn. Turn this on to set a separate number for each side.
• Labels, 50% line and Volume and buy / sell. The last one shows the block candle's volume split into buying and selling from its measured delta, where buy = (volume + delta) ÷ 2. The split comes from the trades themselves and is never estimated from the candle's shape.

A fair value gap is a three-candle imbalance. The move is so fast that the wicks of the first and third candles don't overlap, which leaves a price range the market passed through without two-way trade. Each gap is drawn as a box that starts at the third candle and extends to the right until price fills it.

Reading it

• A bullish gap forms when the third candle's low is higher than the first candle's high. The box runs from that high to that low. A bearish gap is the mirror image.
• Gaps smaller than Smallest gap are left out. This setting is a share of price, so the same value works on every timeframe. The default of 0.05% is about $40 with Bitcoin at $80,000.
• Price fills a gap one piece at a time. A bar that trades into a gap only takes the part it reached. The gap's edge moves in to that bar's low (or its high, for a bearish gap), and the rest carries on to the right. A gap that price keeps returning to ends up shaped like a staircase.
• A gap is filled once price has traded all the way through it. Filled gaps stay on the chart unless you turn Show filled gaps off. They are faint and dashed and end at the bar that took the last part.

A gap appears once its third candle has closed. The candle still forming takes its piece of a gap as soon as price trades into it.

Options

Each option starts at the behaviour described in this topic, so the chart looks the same until you change one.

• Size by. This measures Smallest gap as a share of price, or as a multiple of the 14-candle average true range at the gap's third candle so the threshold follows volatility.
• Ends at. A gap can end at the far edge (the default), at 50% (the consequent encroachment), at the first touch or when a candle closes through the far edge. With a close through, wicks still take their part of the gap, and the forming candle can never end a gap by its close.
• Inverse gaps. A gap that a candle has closed through flips. From that close its whole range is drawn dashed as an IFVG+ or IFVG− zone of the opposite side until a candle closes back through it.
• Timeframe. This finds gaps on a higher timeframe's candles and draws them on your chart. A higher-timeframe gap appears once its third candle on that timeframe has closed. Your chart's own candles then fill it piece by piece.
• Show bullish gaps and Show bearish gaps turn each side on or off, including inverse zones. Limit open gaps draws only the newest open gaps on each side.
• 50% line marks the middle of each gap as it was when it opened. Stop open gaps after extends an open gap for a set number of candles instead of to the right edge.
• Labels show each gap's size in dollars or as a share of price. They can also show the middle candle's volume and delta, which is the move that created the gap.

This tool draws CME Bitcoin futures levels and the gaps between CME sessions. Until 29 May 2026, CME closed every evening and all weekend while Bitcoin kept trading. A session that opened higher or lower than the last close left a gap, and price often came back to fill it. CME has traded around the clock since that date. The Terminal counts trading between two daily sessions as part of the later session, which is how CME dates its own trades. This means a gap is a price band CME never traded through.

Reading it

• CME PDH and CME PDL are the high and low of the last completed CME session, drawn as solid lines. CME 2DH and CME 2DL are the session before that, drawn dashed.
• A gap forms when a session's whole range sits higher or lower than the previous session's close. The band runs from that close to the nearest price the new session traded. Weekend gaps are drawn brighter than midweek gaps. A weekend gap is any gap between sessions more than a day apart, so holidays count too.
• A partly filled gap shrinks to the part still untouched, and its label shows what is left. A filled gap is removed. The twenty newest unfilled gaps are drawn unless you change Unfilled gaps drawn.
• Gaps since 29 May 2026 are marked 24/7. A gap whose stretch includes a Saturday is marked Saturday unseen. The CME feed publishes nothing for Saturday, New York time, so CME may have traded through the gap then. A gap the hourly data didn't reach is marked unverified. Both kinds are drawn with a sparser outline.
• A level outside the visible chart is pinned to the nearest edge with an arrow and its distance, so you always know it is there.
• The levels are CME's own prices, drawn over your chart's candles, which are not CME's. The two differ by the basis. Nothing is shifted to hide that difference, so each gap sits exactly where CME left it.

Options

Each option starts at the behaviour described in this topic, so the chart looks the same until you change one.

• Weekend gaps and Midweek gaps turn each type on or off. Hide gaps the feed could not see leaves out gaps marked Saturday unseen or unverified. Smallest gap leaves out narrow gaps, in dollars or as a share of price, measured when they opened. Only gaps newer than leaves out old ones.
• Draw from the gap's session. This starts each gap where the session before it closed instead of across the whole chart, so you can see when it opened.
• Show the filled part draws the part of a partly filled gap that has already traded in a faint color next to what is left. Show filled gaps draws gaps CME has filled in a dimmed color, from the session before them to the close of the session that filled them. Sessions are daily, so that close tells you the gap was filled by then but does not give the exact minute.
• Gap labels can sit on the left or right and can add each gap's direction, size, age and distance from your chart's price. Pin the nearest off-screen gaps pins the nearest gap on each side of the visible chart to its edge.
• Levels. You can turn the high and low of the previous session and the session before it on or off, and set their style and width. You can also add the previous session close, which is the last trade of CME's last completed trade date. CME's official settlement price is a separate figure that CME sets in a different way.
• Basis in the CME line adds CME's newest one-minute close minus your chart's close for the same minute to the readout under the chart.

The CME readout under the chart

The strip under the chart shows how far behind the newest CME bar is, whether CME is open, and how many gaps are unfilled. When your settings hide some gaps, it also shows how many are drawn and how many your settings left out. This way a chart with every gap filtered out never looks like a market with no gaps. CME has traded around the clock since 29 May 2026. Before that, it traded from Sunday 17:00 to Friday 16:00 Chicago time with a daily halt. The feed publishes no bars for Saturday, New York time, so on a Saturday the readout is a day behind and says why. A red readout means the CME levels couldn't be read at all.

This tool draws a line at each market's opening price from its open to its close. It shows where Tokyo, London or New York started the day and whether price is higher or lower than that level now.

How to use it

1. Click Market sessions in the rail's Market Context group.
2. To choose markets, hover over it, click the ⚙ and turn markets on or off under Markets. All of them are on by default. Each market has a color next to its switch, and ↺ restores that market's own color. Your chosen markets and colors are saved with a layout.

Reading it

• Each market draws in its own color at the open of the first bar that starts at or after the market's open. On a timeframe longer than the session, that can be hours after the opening bell.
• Daylight saving follows each market's own time zone, and weekends are judged in the market's local time. Holidays are not known, so a market is drawn on a bank holiday like any other weekday.
• Lines too short to read are skipped. Names only appear where there is room and Market names is on.

Options

All options are off by default, so the chart looks the way this topic describes until you change one.

• Extend the open until revisited. After its session closes, each opening line continues until a later candle trades through its price, or to the right edge if none has.
• Days drawn. This shows only the sessions that opened within this many UTC days, including today. Set it to 0 to draw every session in view.
• Session high / low box. This draws each session's high and low as a box from its open to its close, using the candles that open inside the session. If a candle spans the open or close, such as a 1-hour candle over New York's 09:30 open, the box is approximate and marked ≈ range.
• High / low until revisited. Once a session has closed, its high and low continue until a later candle trades through them. This covers sessions up to a week before the view. A session still trading has no final high or low, so none is drawn for it.
• Opening range. This draws the high and low of each session's first 5, 15, 30 or 60 minutes from the end of that period to the session's close, once the period has closed. If your chart's candles are longer than the period, the range is calculated from finer candles of the same source, which go back about a thousand candles.
• Shade the sessions. This shades each session's hours faintly in its market's color.
• Custom sessions. Under Markets, click + Add session and enter a name and a time zone as your computer names it (America/New_York, Europe/London, Asia/Tokyo, UTC). Set the local open and close in 24-hour HH:MM. A close earlier than the open means the next day. Pick weekdays or every day, and pick a color. For example, ICT's killzones are London 02:00 to 05:00 and New York 07:00 to 10:00, New York time. If the browser can't place a session, the reason appears under it. Custom sessions follow the same rules and support every option in this list.

DVOL bands show how far options are pricing Bitcoin to move. The tool draws a one-standard-deviation band for the day and for the week from Deribit's DVOL implied-volatility index. It also marks the max-pain price for the nearest option expiries.

Reading it

• Day band (+1σ day, −1σ day). These are dashed lines on either side of the open of the first bar at or after today's 00:00 UTC. The day's σ is that open × DVOL at the open ÷ 100 ÷ √365. DVOL at the open is its reading at 00:00 UTC, so the band stays fixed for the day.
• Week band (+1σ week, −1σ week). These are finer dashes around the open of the week's first bar at Monday 00:00 UTC. They use DVOL's reading at that time, multiplied by √7.
• Max pain. This is a dotted line at the strike where option holders would be paid the least at expiry. It is drawn for the nearest expiry, and also for the nearest monthly expiry if that falls on a different date. Its label shows the date and whether it is a monthly or quarterly expiry.
• When you turn it on, the status line shows the full reading. That covers DVOL and its 24-hour change, the day band and the DVOL reading it was drawn at, the week and hour moves in dollars, and the put/call open-interest ratio.

We measured the band drawn at the open. We tested the band drawn at each day's open, using DVOL's reading at that time, on 2,015 days from 24 March 2021 to 28 September 2026 against Deribit's Bitcoin perpetual. 79.9% of days closed inside ±1σ, compared with 68.3% for a normal curve, and 4.7% closed beyond ±2σ, compared with 4.6% for a normal curve. Over 287 weeks, 77.4% closed inside ±1σ and 4.2% beyond ±2σ. The band has been too wide for ordinary days, and large days came about as often as options priced them. The band shows what options are pricing and is not a forecast.

Before 5 October 2026 the band used the latest price and the latest DVOL, re-read every five minutes. It moved during the day, so it was a different band from the one we measured. Set Volatility from to Latest if you prefer that behaviour.

Options

• Volatility from. You can choose At the open (measured) or Latest. If no DVOL reading from the open is held, the latest one is used and the status line says so.
• Multiples. You can draw 1σ, 1σ and 2σ, or a custom list of up to four multiples from 0.25 to 4. Fill inside the bands shades between each band's edges.
• 30-day band. This draws the move DVOL prices over its own 30 days, centred on today's open. This band has not been measured.
• Past days' bands. This draws up to seven earlier days, each one from its open to its close using the DVOL reading at its own open. A later reading is never used.
• Past weeks' bands. This draws up to four earlier weeks, each one from its Monday open to the next, using the DVOL reading at its own open multiplied by √7. They are drawn with the week band. The server reads 36 days of hourly DVOL, which is enough for four weeks. A week the chart's candles don't reach is left out and the status line says so.
• Max pain expiries. You can choose the nearest and next monthly, every Friday, the monthlies, the quarterlies or every expiry, up to a set number of days ahead. Max pain has not been measured. No free history of option-chain open interest exists to test it on, and our own record starts on 10 September 2026.
• Expiry-implied move. This draws ± spot × the chosen expiry's at-the-money implied volatility × √(days to expiry ÷ 365), drawn from the time of the option chain to the right edge. It is based on at-the-money IV and does not use a straddle's price. It has not been measured.
• You can also set the line width, a style for each line, the labels and whether the labels show the % from the open.

Dealer gamma shows where options dealers need to hedge, based on Deribit's Bitcoin option chain. Levels are drawn as lines with labels on the price axis. When dealers are long gamma, they sell rallies and buy dips, which tends to pin price. When they are short gamma, they chase moves, which tends to extend them.

Reading it

• gamma flip (thick dashed). This is the price where dealers' net gamma changes sign. It is found by re-pricing the whole chain across 10% either side of spot and taking the crossing nearest to price.
• call wall (red). This is the strike at or over spot with the most positive net gamma.
• put wall (green). This is the strike at or under spot with the most negative net gamma.
• γ lines (thin grey). These are up to ten of the next-heaviest strikes within 10% of spot.
• Dollar figures are hedging dollars per 1% move. They assume dealers are long calls and short puts, which is the usual convention.
• When you turn it on, the status line shows the reading. It gives whether dealers are long or short gamma, the flip, both walls, the chain's age and the assumption behind the figures.

Options

• Show. This turns the flip, each wall and the other strikes on or off.
• Strikes drawn is 10 by default, and Ranked by ranks them by net $γ or by calls + |puts|. The second option counts all the gamma at a strike, so it finds strikes where both sides are heavy and cancel out in the net. Smallest $γ leaves out the light strikes. A wall among the strikes is drawn as a wall.
• Expiries. The flip, the walls and the strikes can use every expiry or the options of one expiry alone, which can be the nearest, this Friday's or the month-end's. Pinning around an expiry comes from that expiry's open interest, which the whole chain blurs.
• Axis labels can be on or off and can show $γ, open interest in BTC or both. You can also set a width and style for the flip, the walls and the strikes.
• Gamma profile at the right edge. This shows every strike within 10% of spot as a bar scaled to the largest, with puts on one side of the centre line and calls on the other.
• Shade the short-gamma side. This shades the side of the flip where the model has dealers short gamma. On that side, hedging chases a move instead of damping it. This is read at today's price, and further away the sign can flip again.

We have not measured these levels. We have not yet measured how price behaves at them. The Terminal draws and labels them but gives them no weight anywhere. The SPX workspace has the same read for the S&P 500.

This tool draws US economic releases on the chart and adds a countdown in the header to the next high-impact release, so a CPI print or an FOMC decision won't catch you by surprise.

On the chart

• Turn on Economic calendar in the rail to draw each release as a vertical line. High impact is solid red and medium impact is dashed amber. Releases at the same minute share one line.
• Labels show the day and time in UTC and a short name, stacked up to four deep. Where they don't fit, a line says how many more there are. Zoom in or hover over the line to see them.
• Hover over a line to see each release on it, with its impact, forecast and previous figure. The feed publishes the forecast and previous figure but not the actual result, so the surprise against the forecast isn't shown.
• Upcoming releases are drawn to the right of the last bar, at the time they are due.

The header countdown

• The chip at the right of the header counts down to the next US high-impact release, whether or not the lines are on. It reads like in 2d 4h, in 3h 12m or in 9m.
• It turns amber in the last hour and red in the last fifteen minutes. For half an hour after a release, it shows how long ago the release was.
• Hover over it to see the next eight US releases. A dashed chip, or calendar stale, means the calendar hasn't refreshed for more than six hours.

Options

By default the chart shows USD high- and medium-impact releases, and the chip follows USD high impact.

• Impact. You can turn high, medium, low and bank holidays on or off one by one.
• Currencies. You can choose USD, EUR, GBP, JPY, CNY, AUD, CAD, CHF and NZD, and Global for events not filed under a single currency, such as OPEC, G7 and G20 meetings. All and None sit next to the heading.
• Only titles with. Enter words separated by commas, such as FOMC, CPI, NFP, PCE, and only releases whose name or short name contains one of them are drawn.
• Blackout around high impact. This shades a band a set number of minutes on each side of every high-impact release drawn, which is the window where spreads can widen and stops can get run.
• Labels. Labels can show the forecast (f) and previous figure (p) next to each name, and the day and time in UTC or in your computer's own time zone.
• You can set a width, style and opacity for each impact level's lines.
• Header countdown. This sets when the countdown turns amber and red, and whether it follows USD high impact or whichever releases your other choices allow.

These chips show two readings from Market Control in the header, so you don't need to open the Orderflow workspace to see them.

• ⚡ Lightning. This is the five-minute read of which side is leading, built from the aggregated footprint, the order book and the liquidation tape. It reads like ⚡ 62% bullish · turn 81,250, which gives the lean and the turn. The turn is the heaviest resting order-book level within $900 of the mid price. It is green when bullish and red when bearish. It reads ⚡ even within two points of 50/50, and ⚡ quiet when no side is leading. Hover it to see why.
• under cost. The chip is dimmed and dashed while the read has not been shown to beat the cost of trading on it. It still describes the market, but it does not suggest a trade.
• The block chip is amber and appears only when a side is blocked. It reads NO SHORT (4h), NO LONG (12h), or both at once on different windows. It means a venue with real control of price is absorbing selling (no short) or liquidating longs (no long) over those windows. It warns against one side and never tells you to take the other.

These tools draw exponential and simple moving averages, with as many lines as you want. Each tool starts with a 50 and a 200 on the closes.

How to use it

Hover over EMA or SMA in the rail and click the ⚙. Each line in the Lines list has its own settings.

• Each line has a switch, a length and a timeframe. The timeframe can be Chart or any timeframe in the header.
• Each line has a color and a band with its own multiple. The band can be none, ± σ, ± ATR or ± %. ± σ gives Bollinger bands, using standard deviations of the line's source over its length. ± ATR gives Keltner channels, using multiples of a 14-bar ATR unless ATR band length says otherwise. ± % gives an envelope.
• Each band has a cloud color.
• A second line of settings holds its Source (the close, (H+L)/2, (H+L+C)/3, (O+H+L+C)/4, the high or the low), its own Width (1 to 6 pixels) and its Style (solid, dashed or dotted).
• The × button removes the line.

+ Add line adds another line, and Reset to 50 / 200 starts over. Lines saved before each line had its own width keep the width they were drawn at. Price labels on the axis shows or hides each line's latest value on the price scale.

A band is drawn as a cloud behind the candles that fills the space between its edges in the line's cloud color. Cloud opacity sets how solid it is at the line. When Fade toward the edges is on, the cloud thins out toward the band's edges. Turn it off for an even fill.

Higher-timeframe lines

A line set to another timeframe is calculated on that timeframe's bars and drawn in steps. It only moves when that timeframe's bar closes, never earlier. This means a 4-hour 200 EMA on a 5-minute chart holds still for four hours at a time.

The EMA starts from the simple average of its first bars. Neither line is drawn until there are as many bars as its length.

This tool draws weighted moving averages, with as many lines as you want. The tool starts with a 20 and a 50 on the closes.

The newest bar counts most. Over a length of n, the newest bar has a weight of n, the one before it n − 1, and so on back to 1 for the oldest. The weighted total is divided by n(n + 1) ÷ 2. This means the WMA sits closer to price than a simple average of the same length.

Its lines have the same options as the EMA and SMA. Each one has a length and a timeframe, and a higher timeframe only steps when its bar closes. Each one also has a color, a band (± σ, ± ATR or ± %) drawn as a cloud in its own color, and a source, width and style. + Add line adds another line, and Reset to 20 / 50 starts over. A line is drawn once there are as many bars as its length.

This tool draws Hull moving averages, with as many lines as you want. The Hull average is designed to follow price closely while staying smooth. The tool starts with a 21 and a 55 on the closes.

Over a length of n, it takes the weighted average (as in the WMA) over n ÷ 2 bars and doubles it. It then subtracts the weighted average over n bars and smooths the result with a weighted average over √n bars. Both n ÷ 2 and √n are rounded down, as in Hull's own definition. So the 21 is calculated over 10 and 21 bars and then 4, and the 55 over 27 and 55 and then 7.

• Its first value needs n + √n − 1 bars, which is 24 bars for the 21 and 61 for the 55.
• The length must be at least 2.
• Each line has the same options as the EMA's for timeframe, color, band and cloud, source, width and style. Reset to 21 / 55 starts over.

This tool draws volume-weighted moving averages, with as many lines as you want. The tool starts with a 20 and a 50 on the closes.

Each bar counts in proportion to the volume traded in it. The VWMA adds up each bar's price times its volume over the length, then divides by the total volume over the length. Where heavy volume traded, the line sits closer to those prices than a simple average would.

• If nothing traded over a whole length, or a bar has no volume, the line has no value there and no value is guessed.
• A line on a higher timeframe is weighted by that timeframe's own volume and steps when its bar closes.
• A ± σ band is the plain standard deviation of the line's source over its length, the same as on the SMA. ± ATR and ± % work the same way as on the EMA.
• Each line has the same options as the EMA's. Reset to 20 / 50 starts over.

TWAP is the time-weighted average price. It is the running average of each bar's (open + high + low + close) ÷ 4 since an anchor at 00:00 UTC. The anchor is the start of the day, the week (from Monday), the month, the quarter or the year. The tool starts with one daily line. You can add a line for each anchor in its ⚙. Lines have the same width, style and band options as the EMA, and bands are drawn as the same clouds. The bands are ± σ of the same prices since the anchor, ± ATR or ± %.

• The line and its cloud break at each anchor, so one period's average never joins the next.
• The chart's bars usually start partway through the first period. An average of only those bars isn't that period's TWAP, so the period is left out and the status line says so. Show a partial first period draws it dashed instead. On a short chart, a quarterly or yearly line may have no complete period to draw at all.

This row shows Wilder's Relative Strength Index. By default it uses 14 bars on the chart's closes, with dashed overbought and oversold lines at 70 and 30. When you turn it on, the status line shows the reading and notes whether RSI is overbought or oversold. At its default settings it is the same RSI the Detections read, bar for bar. RSI divergences are marked on the price chart whether or not this row is on.

Options

• Length, Source and Timeframe. The source can be the close, (H+L)/2, (H+L+C)/3 or (O+H+L+C)/4. A timeframe other than the chart's is calculated on that timeframe's bars and only steps when its bar closes. If you change any of these three, the status line notes that the detections still read RSI(14) on the chart's closes.
• Levels. You can set the overbought and oversold values, their colors and line style, a 50 midline, a fill between levels and a shade beyond levels wherever RSI is over overbought or under oversold.
• Smoothing. This draws a moving average of the RSI itself (SMA, EMA, RMA or WMA) as a second line with its own length and color.

If there are no gains and no losses at all over its first bars, this RSI reads 50, which is the midpoint. TradingView's built-in RSI reads 100 in that case.

This row shows Wilder's average true range over 14 bars in dollars. It shows how far price typically moves in one bar, including gaps. A bar's true range is the largest of three distances, which are high to low, high to the previous close and low to the previous close.

Options

• Smoothing. You can use Wilder's RMA (the classic ATR) or an SMA, EMA or WMA of the true ranges.
• Units. You can show dollars or % of close, which divides each bar's ATR by its close so readings compare across price levels.
• Timeframe. You can use the chart's own timeframe or another one that steps when its bar closes.
• Stop lines on price. This draws two lines on the price chart at the last closed bar's close plus and minus a multiple of its ATR, which is 1.5 by default, and labels them on the price scale. They only move when a bar closes.

This row shows realised volatility, which is the standard deviation of the last 20 bars' log returns, annualised over Bitcoin's round-the-clock year and shown in per cent. You can compare it directly with options-implied volatility such as DVOL.

Options

• Estimator. You can use close to close (the default) or one of the range estimators, which also use each bar's high and low. These are Parkinson (high to low), Garman-Klass (open, high, low and close) and Rogers-Satchell, which holds up when price trends within the bar.
• Units. You can show annualized, daily or per-bar figures. Platforms scale intraday bars in different ways, so their figures may not match these.
• Show. You can show the volatility itself or its percentile rank. The rank runs from 0 to 100 and is the share of previous readings at or under the current one, over 365 bars by default.

This row shows the standard deviation of the last 20 closes in dollars. Bollinger bands are built from this figure. Its Source can be another price, such as (H+L)/2, (H+L+C)/3 or (O+H+L+C)/4. Its Units can be a percentage of the average over the same bars, which compares across price levels.

This row shows how many standard deviations the close sits from its 20-bar average, calculated as (close − average) ÷ standard deviation. Dashed guides mark +2, 0 and −2.

Options

• Measure. You can measure price (with a choice of source), volume, log volume or delta. Log volume is ln(1 + volume), which stops one huge bar from flattening the rest.
• Levels. You type the guides as a list such as 2, 0, -2 and can set their color and style or hide them.
• Fill beyond outer guides shades between the line and the outermost guide wherever the line is past it. Recolor beyond outer guides changes the line's own color there.

Market Control shows who is in control of price. It covers which venues, spot or perpetual, are actually moving price, which way the pressure is pushing, and who is offside. The header shows the same read as the Market Control chips.

Reading it

• Summary. The summary has one line for each window, from the five-minute lightning read up to the last day. Each line has a bear/bull bar, the lean in per cent, the reason in plain words and how much confidence the fit deserves. A blocked side is stated outright, for example no short while this runs.
• pressure over sets the window the rest of the page reads. You can choose 1h, 4h (the default), 12h, 24h, 48h or 1w. A timestamp shows the reading's age, and STALE appears when the feed has stopped.
• Gauges. The gauges show spot control, which is how much of the explained movement spot drives, and spot pressure, which is the way cash is flowing. They also show bias, which runs from −1 when shorts are in control to +1 when longs are in control, and confidence.
• Cash market. This shows the Coinbase premium, the perpetual basis to cash, spot's share of volume, flow divergence, a spot composite and spot CVD.
• Spot control and Perpetual control. These rank each venue by its share of the explained movement.
• Stress, who is offside. This shows which side is positioned on each venue, how stressed it is and its regime.
• Price, OI and CVD and Cash flow and premium. These are small charts for each exchange. A gap means a bar nobody reported.
• Raw readout shows the last bars of any one market. Excluded markets lists the markets left out and the reason for each.
• Venue census. The census lists every perpetual venue on CoinGecko, how much of the credible open interest our recording covers, and which venues fail the turnover test that flags a manufactured tape.

You can also dock any section next to the chart from Panels › Market Control.

Market Control is a model we have not validated. It has not been forward-tested on any of its windows. Use it for context, because it does not give trade signals.

This workspace puts the S&P 500 next to Bitcoin. It has an SPX chart with dealer gamma drawn on it, gamma ladders for both markets, Bitcoin's options, and the CFTC's weekly positioning report.

The chart

• SPX is the index, over the cash session from 09:30 to 16:00 New York time. ES is the E-mini future. It trades nearly around the clock, runs about ten minutes behind and trades higher than the index by its carry.
• The timeframes are 1m, 5m, 15m, 30m, 1h, 4h, D and W. One-minute bars go back a week, 5 to 30 minute bars go back 60 days, hourly bars go back two years, and daily and weekly bars go back ten years. Index bars start at the opening bell.
• On SPX, the gamma flip (dashed yellow), the call wall (red), the put wall (green) and the other large strikes are drawn on the chart. On ES, the symbol line notes that these are index strikes.
• The price badge counts down to the bar's close and reads closed outside trading hours. It does not know about holidays.

The panels

• The regime strip. This shows whether SPX dealers are long or short gamma and what that tends to mean. In long gamma, moves into the walls tend to be sold and bought back. In short gamma, moves tend to feed on themselves.
• Dealer gamma, SPX and Dealer gamma, BTC (Deribit). These show spot, net gamma per 1%, the regime, the flip and walls, and the ten largest strikes by size with their calls, puts, net gamma and open interest. The method is the same as dealer gamma on the chart.
• Options, BTC (Deribit). This shows DVOL and its change on the day, the one-σ day, week and hour moves, and the put/call open-interest ratio. It also lists the next twelve expiries with their put/call ratio, max pain, at-the-money volatility and 25-delta skew.
• Positioning, CFTC. For the E-mini, CME Bitcoin and Micro Bitcoin futures, it shows open interest and the long, short and net positions of dealers, asset managers, leveraged funds and other reportables, with the week's change. The report comes out three days late, so use it for context and never as a trigger.

You can dock any of these panels next to the Bitcoin chart from Panels › SPX.

We have not measured these levels. We have not yet measured how either market behaves at them.

The News workspace measures how crowded the story is. It reads what the crypto press, Reddit and YouTube are saying, and what positions the market is holding. A 10 means everyone is already saying buy, and when a story is that crowded the position usually is too. A 10 does not mean you should buy. This workspace is the website's News page, running on the same data.

How to use it

1. Click News in the workspace switch.
2. Choose the time window in the toolbar, 24 hours or 7 days. Everything on the page uses that window.
3. Read the BGR sentiment rating dial first, and then the Score and Crowding next to it.
4. Check Catalysts for the upcoming events the conversation is positioned around.
5. Click a headline to open it in your web browser. The camera icon on the dial saves an image of the rating.

Reading it

• BGR sentiment rating, 0 to 100. It combines news (40%) and positioning (60%) as scores. The news score ranks the current news reading among its own earlier readings. The positioning score ranks positioning against its own record. The result is placed on a curve where readings over 80 and under 20 each happen about 3% of the time. The dial shows the arithmetic. Positioning uses three readings, which are funding, open interest growth and the side that opened that open interest. Funding makes up 20% of positioning and the other two 40% each. Each reading is a percentile against every day on record since 2020. The three are combined on a scale set so that readings over 80 and under 20 each happen on about 3% of days. The dial lists each reading's percentile and its share. Price direction is not an input.
• Score, 1 to 10. The score is based on headlines alone. 1 is all bearish, 10 is all bullish and 5.5 is an even split. It is green over 6 and red under 5. No score means fewer than five headlines leaned either way. That points to a quiet conversation, which is different from a balanced one.
• Crowding, 0 to 100%. Crowding shows how one-sided the headlines are. 0% is balanced and 100% means everyone is saying the same thing.
• Catalysts lists events that headlines from the past week mention as coming up, such as FOMC, CPI, ETF decisions, the halving, token unlocks, court dates and elections. It shows how often each is mentioned and which way those mentions lean.
• Headlines shows the most-engaged stories from each voice (press, Reddit, YouTube) with their source, age and lean. Videos show their thumbnail and views, and posts show their points.
• Fear & Greed is alternative.me's published index. It is shown next to the score for comparison and is not part of it.

How a headline is scored

Each headline is checked for bullish words and phrases such as "rally" and "all-time high" and bearish ones such as "sell-off" and "hack". A negation right before a word ("fails to", "not", "despite") flips its meaning. Press and Reddit headlines count once each. A video counts according to its channel's typical reach. The three voices are blended at fixed shares, with the press weighted most. Hacker News is listed as a source but doesn't count toward the score.

This gauge measures the crowd. The score counts words in headlines and has not been tested against returns. It does not give trade signals.

Paste a token's contract address to get a rated report, with the evidence behind every reading. The report checks whether the contract can trap you, how deep the liquidity is, and who holds the supply, including whether several wallets are really one buyer. It also covers what happened at launch and the creator's track record.

How to use it

1. Sign in first from File › Account…. Scanning needs an account, and the free Lite plan is enough.
2. Click Scanner in the workspace switch.
3. Paste a Solana mint or an EVM contract address into the box.
4. Leave the chain on auto, or choose Solana, Robinhood Chain, Ethereum or Base. Auto tells Solana from EVM by the address and finds an EVM token's chain from its trading pools.
5. Press Scan or Enter. A card shows each stage as it runs. A busy launch with thousands of trades in its first hour can take minutes, because the data sources limit how fast they can be read. The scan is still working during that time, and you can go back to the chart while it runs.
6. Every past report is listed under Recent scans. Click one to reopen it.

Reading the report

• The verdict is a dial from 0 to 100. It reads promising from 70 up, neutral from 50, caution from 25 and danger under 25. Veto means at least one deal-breaker fired, and it caps the score at 10. Coverage shows how much of the checklist could actually be read, because a score built on little data is worth little.
• Vetoes are listed in red with their evidence. A veto fires for a token that can't be sold (a honeypot), for a punitive tax, an owner who can edit balances, a permanent delegate or transfer hook on Solana, new holders frozen on arrival, a large share of supply taken in the launch block, or a market cap with nothing to sell into.
• Lifetime footprint is the main part of the report. It puts every trade since launch into one footprint candle. Each row is a step of market cap, and you can choose $1k, $10k, $100k or $1M. Sells sit on one side of the spine and buys on the other, in dollars, tokens or share of supply. Days since launch run along the top, and the dashed line is the current market cap. Next to the candle you can see what was bought above today's market cap and is still held, which is holders under water, and what was bought below it, which is holders in profit. Both are split by each holder's average cost. Full screen has a magnifier that reads any row, however thin, and scrolling zooms. A coin's trades are kept between scans, so a busy coin that was only partly read the first time fills in over later scans. The line under the candle shows how much of the token's life was read.
• Early accumulation shows how much of the supply was taken within the launch slot, 5 seconds, 1 minute, 5 minutes and 1 hour, and how much of that is still held. A table lists the early buyers, and each one expands to show where their tokens went.
• Categories score the contract, liquidity, distribution, launch, market and creator, and each one shows what moved its score. Community is never scanned. The token's links are listed so you can check it yourself.
• Holders gives the top-ten share by wallet and by entity, where an entity is a group of wallets funded by the same source. It also gives bundled and sniper holdings, the creator's holdings, concentration measures and the top forty holders.
• Launch. For pump.fun tokens on Solana, this shows the creator, the launch time, bonding-curve progress and who bought in the launch slot.
• Every marker lists each check with its value, score and evidence. The sources table shows where each one came from.

The report is a checklist with the evidence attached. The number is not a probability. The weights behind it are stated priors from published research. Which markers predict a rug, a pump or a survivor has not been measured yet.

When a figure is missing, the Terminal says so and never shows a zero in its place. A stale figure shows its age. The live state of our recording is on the status page.

Everything you create in the Terminal is stored on your computer, in %LOCALAPPDATA%\BlockchainGravityTerminal.

• data holds your sign-in, your drawings, the recorder's own capture and the app's logs.
• WebView2 holds your layouts, settings, shortcuts and panel arrangement.
• multi-monitor.json holds your multi-monitor setup.

Layouts and drawings are not synced between computers. Market data and history come from our servers, and scans run there. See the privacy policy.

An indicator row has gone blank

Someone dragged its price axis, so it stopped following the data. Double-click inside the row to refit it.

A tool is greyed out

Your plan doesn't include it, and its tooltip names the plan that does. If you have that plan, sign in from File › Account…. See Sign in.

A “Locked: this needs …” box appears in the corner

The server refused data that your plan doesn't include. The box names what is needed.

The chart will not pan or zoom

A drawing tool is armed, and it holds the chart still so that dragging draws. Double-click the chart to return to the crosshair.

I click the chart and select drawings instead

Lock your drawings with Lock all drawings at the bottom of the drawing toolbar, or with the padlock at the chart's top-left. The chart then pans straight through them.

The footprint shows plain candles

Zoom in. When Candles when zoomed out is on, narrow bars draw as candles. Bars older than Cell history are always candles. The Heikin Ashi, OHLC and Line styles also turn the cells off.

The OI readout is amber or red

The open interest feed is behind or down, so the rows aren't current. The readout says why. It does not mean the market is quiet.

Loading a layout did not bring back my drawings

Layouts never include drawings, so loading one can't clear them either. Drawings are saved separately and restored when the Terminal opens.

Something else looks wrong

Send a bug report, or open a ticket on Discord from the support page. Include the chart, timeframe and venue, and roughly when it happened.