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COIN TRADES

6 min · DYOR Education
FreeCOIN · Trades
Goal

Break down COIN TRADES — market buys and sells per bar, units and output modes.

COIN TRADES on BTC/USDT: market buys minus sells per bar
COIN TRADES on BTC/USDT: market buys minus sells per bar
What it shows

Market trades per bar: how much was bought and how much was sold.

What it's based on: only market trades count, i.e. takers — those who filled an order immediately instead of waiting in the order book.

  • Bars (histogram), one value per bar.
  • By default it shows the difference: buys minus sells. Bar up — more was bought. Down — more was sold.
  • Units — coins, millions of dollars or dollars.

How it differs from the order book: these are executed trades, not orders. An order can be pulled, a trade can't.

market buyertakes the ask → “buy” trademarket sellerhits the bid → “sell” tradetaker — filled right away at market; maker — whose order sat in the order book and waitedCOIN TRADES counts trades by the taker: buyer took the ask — buy, seller hit the bid — sell
An order in the book is waiting. A trade is when someone hits it. Every trade has a taker and a maker.
What it's for

Find out who acted rather than waited. An order in the book can be pulled, a market trade has already happened.

For example.

  • Three bars in a row point down by $5M each, and the price didn't move.
  • The sells were filled against bids, and the bids were immediately restored — someone keeps adding buy orders.
  • In COIN B&A this looks like a flat green line while the bars here are red.
Where to find it
Indicators›COIN›Trades›COIN TRADES
Settings
FieldOptionsDefaultWhat it changes
Market TypeSPOT
FUTURES		SPOTWhose trades to count: Binance spot or futures market.
- Want trades of those buying the coin itself — SPOT.
- Want leveraged trades — FUTURES.
On Coinbase and Hyperliquid the switch has no effect: Coinbase is spot only, Hyperliquid is futures only, the value is set by the exchange automatically.
Ask Bid TypeCoins
Millions $
Raw $		CoinsVolume units.
The field is named this way in the interface, even though it applies to trades.
- Want to compare coins with each other — Millions $.
- Want volume in the coin itself — Coins.
Raw $ — dollars without division, for small coins where millions show only zeros.
Values TypeBuys
Sells
Buys − Sells
Sells − Buys
Buys ÷ Sells
Sells ÷ Buys		Buys − SellsWhat to draw: one side, their difference or their ratio.
- Want the skew as one line — Buys − Sells.
- Want only one side — Buys or Sells.
- Want how many times more — Buys ÷ Sells.
BTC PairsALL
USDT ONLY		ALLWorks only on Binance and only on BTC.
ALL — sum of three pairs: BTCUSDT + BTCUSDC + BTCFDUSD.
USDT ONLY — only the BTCUSDT pair.

For other Binance coins the data is always for the USDT pair; the parameter changes nothing.
No effect on Coinbase and Hyperliquid: there bitcoin has one pair — BTC/USD and BTC/USDC.
- Want all Binance bitcoin — ALL.
- Want to compare with a source that counts only BTCUSDT — USDT ONLY.
ExchangeChart
Binance
Coinbase
Hyperliquid		ChartWhich exchange to take data from:
Chart — the same one as the chart.
Binance — spot and futures, USDT pairs.
Coinbase — spot only, USD pairs.
Hyperliquid — perpetual futures only, USDC pairs.

Coinbase and Hyperliquid are available on paid plans (“Exchanges” screen).
They have candles, trades and the order book.
Derivatives, liquidations and loans show “no data” for them.
- Want to compare one coin across exchanges — add the indicator several times and pick a different exchange in each.
In alerts

Metric COIN TRADES. Condition fields:

CoinMarket TypeBTC pairsTimeframeBuy/SellValue Output Type

“BTC pairs” appears only when the coin is BTC.

TOTAL

TOTAL TRADES — the same, summed across the whole market. Fields: Market Type, Values Type.

Try it yourself
  1. Turn on COIN TRADES on 15m, units Millions $.
  2. Find the tallest bar of the day and check whether it is buys or sells.
What you should get. You found the hour with the biggest imbalance of market trades and know its side.
Takeaway

COIN TRADES — executed market trades per bar. By default buys minus sells: bar up — more was bought, down — more was sold. An order in the book can be pulled, a trade can't.

Quick check

A red COIN TRADES bar pointing down means…

Show answer

Correct answer: More was sold at market than bought during the bar

Quick check

A COIN TRADES bar up by $10M is…

Show answer

Correct answer: Market buys during the bar exceeded market sells by $10M

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