Chapter 4
Hidden Liquidity
Differences between visible depth and executed volume
What does it mean?
A hidden-liquidity marker draws attention to executions that the observed book volume does not fully explain. Replenishing orders or unobserved liquidity may be investigated; this is not an exact measurement of remaining hidden orders.
This screen does not track all dark-pool or OTC activity. Do not infer that coverage from a DOM marker.
This screen does not track all dark-pool or OTC activity. Do not infer that coverage from a DOM marker.
How do you read it in CloudCraft?
The current interface uses a G badge. Green indicates detected passive liquidity on the bid side, red on the ask side. Its colour does not describe the same side as an aggressive trade bubble.
Hover for price, side, executed volume, visible volume and estimated hidden volume. Settings > Detection controls visibility and the minimum hidden-volume threshold.
Hover for price, side, executed volume, visible volume and estimated hidden volume. Settings > Detection controls visibility and the minimum hidden-volume threshold.
How do you use it?
Example: aggressive sells execute while the bid side repeatedly provides liquidity and price struggles to move lower. Examine this response alongside the G marker, then check whether the level subsequently holds. One badge is not a sufficient explanation.
Key points
Detection depends on data timing, source coverage and sampling. The marker identifies neither a single large participant nor a total hidden position. Visual decluttering can make some detections less prominent.
Related concepts
This content is for education and analysis only, not investment advice. Market tools offer probability and context, not certainty; the decision is the user responsibility.