What is the Depth Chart and what does it show?
The Depth Chart is a visual way of displaying the existing buy and sell limit orders placed around the current price of an instrument. Like the Orderbook, it updates constantly and shows the cumulative value of orders at given price intervals. All orders shown in the Depth Chart are limit orders.
The chart consists of two axes:
- X-axis – displays price.
- Y-axis – displays the number of contracts (USD value) on order at each price level.
The very centre of the chart shows the Last Price for the instrument.
How do I interpret order depth on the chart?
Hover your mouse over the chart to view the cumulative number of contracts on order between the current price (the centre) and the price you are hovering over. This reveals the “depth” of orders for that instrument at any given point.
The chart also displays how far from the current price the orders are, expressed as a percentage. For example, you might see orders spread a maximum of 0.1% above and below the current price, giving you a quick visual sense of nearby liquidity.