Orderbook Table

1. Indicator Name

Orderbook Table
This is an order book style trading volume map
that upgraded the price from my first script to label

2. One-line Introduction

A visual heatmap-style orderbook simulator that displays volume and delta clustering across price levels.

3. Overall Description

Orderbook Table is a powerful visual tool designed to replicate an on-chart approximation of a traditional order book.
It scans historical candles within a specified lookback window and accumulates traded volume into price "bins" or levels.
Each level is color-coded based on total volume and directional bias (delta), offering a layered view of where market interest was concentrated.
The indicator approximates order flow by analyzing each candle's directional volume, separating bullish and bearish volume.
With adjustable parameters such as level depth, price bin density, delta sensitivity, and opacity, it provides a highly customizable visualization.
Displayed directly on the chart, each level shows the volume at that price zone, along with a price label, offset to the right of the current bar.
Traders can use this tool to detect high liquidity zones, support/resistance clusters, and volume imbalances that may precede future price movements.

4. Key Benefits (Title + Description)

✅ On-Chart Volume Heatmap
Shows volume distribution across price levels in real-time directly on the price chart, creating a live “orderbook” view.

✅ Delta-Based Bias Coloring
Color changes based on net buying/selling pressure (delta), making aggressive demand/supply zones easy to spot.

✅ High Customizability
Users can adjust lookback bars, price bins, opacity levels, and delta usage to fit any market condition or asset class.

✅ Lightweight Simulation
Approximates orderbook depth using candle data without needing L2 feed access—works on all assets and timeframes.

✅ Clear Visual Anchoring
Volume quantities and price levels are offset to the right for easy viewing without cluttering the active chart area.

✅ Fast Market Context Recognition
Quickly identify price levels where volume concentrated historically, improving decision-making for entries/exits.

5. Indicator User Guide
📌 Basic Concept

Orderbook Table analyzes a configurable number of past bars and distributes traded volume into price "bins."
Each bin shows how much volume occurred around that price level, optionally adjusted for bullish/bearish candle direction.

⚙️ Settings Overview

Lookback Bars: Number of candles to scan for volume history

Levels (Total): Number of price levels to display around the current price

Price Bins: Granularity of price segmentation for volume distribution

Shift Right: How far to offset labels to the right of the current bar

Max/Min Opacity: Controls visual strength of volume coloring

Use Candle Delta Approx.: If enabled, colors the volume based on candle direction (green for up, red for down)

📈 Example Timing

Look for green clusters (bullish bias) below current price → possible strong demand zones

Price enters a high-volume level with previously aggressive buyers (green), suggesting support

📉 Example Timing

Red clusters (bearish bias) above current price can act as resistance or supply zones

Price stalling at a red-heavy volume band may indicate exhaustion or reversal opportunity

🧪 Recommended Use

Use as a support/resistance mapping tool in ranging and trending markets

Pair with candlestick analysis or momentum indicators for refined entry/exit points

Combine with VWAP or volume profile for multi-dimensional volume insight

🔒 Cautions

This is an approximation, not a true L2 orderbook—volume is based on historical candles, not actual limit order data

In low-volume markets or higher timeframes, bin granularity may be too coarse—adjust "Price Bins" accordingly

Delta calculation is based on open-close direction and does not reflect true buy/sell volume splits

Avoid overinterpreting low-opacity (light color) zones—they may indicate low interest rather than true resistance/support
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