OB Depth Overlay
OB Depth Overlay renders colored bands behind each candle that represent the bid/ask dominance in the order book at different depth levels. Unlike OB Imbalance (which draws in a subchart), this overlay paints directly on the price chart, giving an instant visual read of where buy or sell pressure concentrates.How It Works
At each candle close, the indicator takes the last order book snapshot and computes dominance at 5 configurable depth bands measured as a percentage distance from the last price:| Band | Default Range | Meaning |
|---|---|---|
| Band 1 | 0–1% | Closest to price — tightest spreads |
| Band 2 | 1–2.5% | Near-price depth |
| Band 3 | 2.5–5% | Mid-range depth |
| Band 4 | 5–10% | Wider depth (disabled by default) |
| Band 5 | 10–25% | Full book depth (disabled by default) |
- Positive dominance → green band (bids dominate) below the candle
- Negative dominance → red band (asks dominate) above the candle
- Band opacity scales with the strength of dominance (stronger = more opaque)
Settings
| Parameter | Default | Description |
|---|---|---|
| Opacity Cap | 85% | Maximum band opacity at 100% dominance |
| Min Ratio Bids | 10 | Minimum bid dominance (%) to show green band |
| Min Ratio Asks | 10 | Minimum ask dominance (%) to show red band |
| Per-band toggles | Bands 1-3 on, 4-5 off | Enable/disable individual bands |
| Per-band colors | Green (bids), Red (asks) | Customize colors per band |
Trading Applications
- Confluence with price action: green bands below support levels confirm passive buying interest
- Divergence detection: price rising but ask bands growing signals potential reversal
- Multi-timeframe depth: compare narrow bands (0-1%) vs wide bands (2.5-5%) — tight dominance often leads price, wide dominance provides context
- Combine with Delta: overlay shows resting orders, delta shows aggressive execution
Notes
- Data comes from order book snapshots taken every ~15 seconds
- Each candle shows the last snapshot of that candle interval (candle-close printing)
- Only available on exchanges that provide order book data (Binance Futures and Spot)