Crypto order flow glossary

Plain-English definitions of the order-flow and cluster-analytics terms used across TSP Core — context for self-directed analysis, not trading advice.

Bid / Ask

The highest price a buyer is willing to pay (bid) and the lowest price a seller is willing to accept (ask). The gap between them is the spread.

Cluster

A vertical strip on the chart that groups trades into price bands so you can see volume distribution within a single bar — the basis of cluster analytics.

CVD (Cumulative Volume Delta)

A running total of buy volume minus sell volume. Rising CVD alongside rising price can describe active aggressive buyers; flat CVD alongside rising price may reflect resting offers being absorbed. These are descriptive observations, not trading signals.

Delta

The net of aggressive buy volume minus aggressive sell volume in a given bar or price band. Positive = buyers initiated; negative = sellers initiated.

DOM (Depth of Market)

The live list of resting limit orders at every price level, on both the bid and ask side. Also called the order book.

Footprint chart

A candlestick chart that exposes the bid/ask volume distribution inside every bar — letting you read order flow at the bar's individual price levels.

Funding rate

Periodic payments exchanged between long and short futures positions to keep the futures price tethered to the spot price. Usually paid every 8 hours.

Impulse

An automatically detected sharp price move with above-average volume, surfaced as an arrow marker on the chart.

Liquidation

A forced close-out of a leveraged futures position when its margin falls below the maintenance threshold. Cascading liquidations often produce wicks.

Liquidity zone

A price area with unusually large resting orders or notable historical reaction — a region traders often watch for possible reactions, pauses or increased activity.

Mark price

The fair-value price used by an exchange to calculate unrealised PnL and liquidations, smoothed against the spot index to prevent manipulation.

Open interest (OI)

The total number of outstanding futures contracts. Rising OI on a price rise = new money flowing in; falling OI = positions closing.

Order flow

The real-time sequence of trades and order-book changes — the raw data behind footprint, CVD, and delta analytics.

POC (Point of Control)

The single price level within a session or volume profile that traded the most volume. Often watched as a support/resistance pivot.

Spoofing

Placing a large limit order with no intent to fill, then cancelling once price reacts. TSP Core's DOM classifier may flag spoofing-style candidate patterns for visual review. These are statistical observations, not confirmed manipulation.

Spot

The market for immediate-settlement crypto — exchange of one asset for another without leverage or expiry.

USDT-M Futures

USDT-margined perpetual futures: contracts priced in USDT with no expiry. The standard derivatives format on Binance, Bybit and most major venues.

VAH / VAL

Value Area High and Value Area Low — the upper and lower bounds of the price range containing the bulk of a session's volume (usually 70 %).

Volume profile

A horizontal histogram that shows traded volume at each price level over a chosen time window. The POC is its peak.

VWAP

Volume-Weighted Average Price — the average price weighted by volume, anchored to a session, day, or arbitrary start.