How to read market flow and CVD
Separate aggressive buying pressure from long and short position exposure.
By Mainneat / Reviewed / Independent documentation
What do the buy and sell percentages in Market overview measure?
The shares of received traded volume attributed to taker buys and sells in the selected window. Market overview combines these flow columns with market context. Every trade still has a buyer and a seller. The percentage does not measure how many accounts are long or the proportion of open interest held by longs.
What is delta?
Buy aggressor volume minus sell aggressor volume in a stated unit and time interval. For example, 12 base units bought aggressively and 7 sold aggressively produce a delta of +5 base units.
What is CVD?
Cumulative volume delta adds those signed volumes over the observation period. On the market page it counts live quantity received after opening, excluding older subscription replay. A reconnection may leave gaps, so it is not a complete historical exchange metric.
Can CVD rise while price falls?
Yes. Executions and price movement answer different questions. Aggressive buyers can meet enough resting offers for price to stall or fall. That observation alone does not identify a participant or prove a future reversal.
Why does acceleration need time to appear?
Market flow compares covered, completed minute windows. It needs enough observed history to make that comparison. A partially observed minute should not be silently treated as a full minute of activity.
Sources and methodology
Protocol details refer to the official sources below. Terminal behavior describes this site's implementation and its stated coverage limits. Examples are illustrative.
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