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Trading Terminal · Order Flow & Market Microstructure

Smart Tape

A filtered time-and-sales micro-tape that classifies trades by aggressor and makes buying and selling pressure readable.

In Development — Targeting December 2026

Join Early Access About the Terminal
TASAggressive Buyer / Seller TapeBTC/USDT PERP · CRYPTOConcept render · illustrative data
INSTRUMENT
Time & sales
TimePriceSizeSideAgg
10:48:20.92768,250.9109BUYlift offer
10:48:18.10768,246.1191BUYlift offer
10:48:16.00468,245.02781BUYlift offer
10:48:14.00868,250.2305SELLhit bid
10:48:12.86768,246.439BUYlift offer
10:48:10.25268,244.3234BUYlift offer
10:48:08.19468,251.3257BUYlift offer
10:48:06.86368,243.6399SELLhit bid
10:48:04.47768,247.9302BUYlift offer
10:48:02.42268,245.4157BUYlift offer
10:48:00.10368,241.951SELLhit bid
10:47:58.09468,252.3358BUYlift offer
10:47:56.04368,251.083BUYlift offer
10:47:54.95868,252.12443BUYlift offer
10:47:52.36368,241.1211SELLhit bid
10:47:50.56168,251.93446SELLhit bid
10:47:48.32168,242.2241BUYlift offer
10:47:46.49668,244.82062BUYlift offer
10:47:44.14768,247.9342BUYlift offer
Aggressor pressure · last 120
BUY 53%SELL 47%
Buy vs sell volume / min
Session
Buy vol
12,40,000
Sell vol
9,80,000
Net Δ (120)
+4,769
Large prints (120)
28
TAS · min 25 · ALL · streaming simulated prints · aggressor inferred if unmarkedSIMULATED DATA · NOT LIVE · IN DEVELOPMENT
Interactive concept render of an ORVINUS Trading Terminal screen using demo data and a simulated feed. Not a screenshot of a released product and not live market data.

Demo data · simulated feed. Illustrative only — not live market data and not investment advice. Try it: click rows, tabs and controls.

Demo AvailableA working demonstration exists and has been shown publicly. It is not yet available to users.

Overview

Time and sales prints every trade, which in an active market is far too fast to read. The aggressor tape is designed to make it usable: each print is classified as buyer- or seller-initiated, small prints can be filtered out, and size is emphasized so the trades that matter stand out.

A running pressure gauge summarizes the balance of aggressive buying and selling over a rolling window, so you can see pressure shift before it shows up clearly on the chart.

Demonstrated in the ORVINUS feature series

Capabilities

What It Is Designed to Do

Intended capabilities. The released feature may differ.

Aggressor classification

Each trade labeled as lifting the offer or hitting the bid.

Size filtering

Hide small prints and highlight trades above configurable thresholds.

Executed volume analysis

Rolling buy versus sell volume over chosen windows.

Pressure visualization

A compact gauge of net aggressive buying and selling.

In practice

Workflow & Limits

Intended workflow

  1. Set a minimum size to filter noise.
  2. Watch the tape alongside price at a key level.
  3. Use the pressure gauge to see whether buyers or sellers are in control.

What to keep in mind

  • Where the exchange feed does not mark the aggressor, it is inferred from trade price relative to the quote, which is not always exact.
  • For NSE/BSE instruments the tape is estimated from the broker's frequent snapshots: several trades between snapshots appear as one estimated print, and the side is inferred. Estimated prints are always labelled as estimated.
  • This page describes a feature in development. It is not available to use yet.

Data requirementTrade-by-trade data with the aggressor side is available from crypto exchange feeds. Broker feeds for NSE/BSE send frequent snapshots rather than every trade, so for Indian instruments this view is planned in an estimated mode, clearly labelled as estimated. Trade-by-trade NSE/BSE data depends on future licensing.

Related

Works Well With

Demo AvailableOrder Flow

Whale Flow

Surfaces unusually large trades and volume bursts relative to each instrument's normal activity.

Demo AvailableOrder Flow

Advanced Footprint Charts

See buy and sell volume at every price inside each bar — with delta, imbalances and volume clusters.

In DevelopmentOrder Flow

Depth of Market (DOM)

A price ladder showing bid and ask depth level by level, with liquidity distribution and recent trades.

All Order Flow & Market Microstructure featuresEvery Trading Terminal feature
Coming Soon — Targeting Late 2026

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