> ## Documentation Index
> Fetch the complete documentation index at: https://terminal.incrypto.ru/llms.txt
> Use this file to discover all available pages before exploring further.

# Average Order Size

> Mean size of market orders — detects institutional vs retail activity.

## Overview

Average Order Size calculates the mean volume per trade for each bar:

```
Average Order Size = Total Volume / Number of Trades
```

Rising average order size indicates larger players are entering the market. Falling average order size suggests retail-dominated, small-order activity.

## How It Works

Every trade on the exchange has a size. By computing the average across all trades in a bar, this indicator reveals the **character** of the current market activity:

* **Large average** — Institutional or whale activity. Fewer, bigger orders.
* **Small average** — Retail activity. Many small orders.
* **Spike from low to high** — Sudden entry of a large participant.
* **Gradual decline** — Institutional interest fading, retail taking over.

This is one of the most direct ways to detect when "smart money" enters or exits a market.

<Tip>
  A sudden increase in average order size at a key support or resistance level often signals institutional interest. These levels are more likely to hold when backed by large orders.
</Tip>

## Interpretation

| Pattern                         | Meaning                                    |
| ------------------------------- | ------------------------------------------ |
| Rising average + rising price   | Institutions buying — strong trend         |
| Rising average + falling price  | Institutions selling — strong downtrend    |
| Falling average + rising price  | Retail FOMO — weakening rally              |
| Falling average + falling price | Retail panic — capitulation may be near    |
| Spike at support                | Institutional bid — level likely to hold   |
| Spike at resistance             | Institutional offer — level likely to hold |

## Settings

| Parameter            | Description                                          | Default   |
| -------------------- | ---------------------------------------------------- | --------- |
| `color`              | Primary indicator color                              | `#eab308` |
| `displayMode`        | Visualization style: `line`, `columns`, or `candles` | `columns` |
| `highlightAnomalies` | Highlight unusually large average orders             | `true`    |
| `anomalyThreshold`   | Standard deviations for anomaly detection            | `2.5`     |
| `anomalyPeriod`      | Lookback period for anomaly calculation              | `30`      |
| `gradientIntensity`  | Scale bar opacity by magnitude                       | `true`    |

## Display Modes

* **Columns** — Default histogram in yellow. Bar height represents the average order size.
* **Line** — Continuous line. Effective for spotting trends in order size over time.
* **Candles** — OHLC rendering showing the range of average sizes within each bar.

## Anomaly Detection

When `highlightAnomalies` is enabled, bars where average order size exceeds `anomalyThreshold` standard deviations above the rolling mean are highlighted. These events indicate:

* Large block trades hitting the market
* Institutional algorithms executing large orders
* Market maker inventory adjustments
* OTC desk hedging activity

## Gradient Intensity

With `gradientIntensity` enabled, bars with smaller-than-average order sizes appear faded while above-average bars appear at full opacity. This naturally draws attention to institutional activity.

<Note>
  Average Order Size varies significantly between assets. BTCUSDT will have very different baseline values than a small-cap altcoin. The anomaly detection normalizes for this, but absolute values should be compared within the same symbol only.
</Note>

## Practical Examples

**Accumulation Phase**: Price trades sideways in a narrow range. Average Order Size gradually increases over several hours — an institution is accumulating without tipping off the market.

**Retail Blow-Off Top**: Price accelerates upward sharply. Average Order Size collapses to very low levels — the move is entirely driven by small retail orders. This is a classic blow-off top signal.

**Institutional Defense of Level**: Price drops to a key support level. Average Order Size spikes dramatically on the bounce — a large buyer stepped in. The support is more credible.

**Fading Institutional Interest**: After a strong trend move, Average Order Size declines bar after bar. The large players who initiated the move are stepping back — the trend may be exhausting.

## Related Indicators

* [Whale vs Retail](/en/indicators/metrics/whale-vs-retail) — Explicit large vs small order segmentation
* [Trade Count Ratio](/en/indicators/metrics/trade-count-ratio) — Number of trades directional analysis
* [Volume Ratio](/en/indicators/metrics/volume-ratio) — Directional volume imbalance
* [Participation Ratio](/en/indicators/metrics/participation-ratio) — Overall activity level