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Trading Terminal · Order Flow & Market Microstructure

Whale Flow

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

In Development — Targeting December 2026

Join Early Access About the Terminal
WHALWhale ActivityNIFTY FUT · NSE · 5mConcept render · illustrative data
MARKETlarge prints across stocks, futures, forex and crypto
Large prints on chart · NIFTY FUTbubble = size vs median · click a row to switch
NIFTY FUTO 24,597H 24,622L 24,406C 24,620+23
Unusual size
TimeInstrumentMktSizeNotionalSidevs median
10:41:12NIFTY FUTNSE2,400 lots₹59.6 CrBUY14.2×
10:39:30BTC/USDTCRYPTO410 BTC$28.0MBUY12.6×
10:38:47CRUDEOILMCX1,850 lots₹11.4 CrSELL11.8×
10:36:05EUR/USDFOREX€120M$130MSELL9.9×
10:33:18NVDAUS640k sh$88.4MBUY9.4×
10:31:59RELIANCENSE310k sh₹90.9 CrBUY8.7×
10:27:20GOLDMCX420 lots₹32.1 CrBUY8.1×
10:22:44BHPASX1.2M shA$50.5MSELL7.4×
WHAL · 8 prints ≥ 7× median · relative to each instrument · does not identify who tradedSIMULATED 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

Unusually large trades are worth noticing. The whale activity view is designed to flag trades and short bursts of volume that are large relative to an instrument's own typical size, and to plot them on the chart where they occurred.

Size is always judged relative to the instrument: a large trade in a thinly traded stock looks very different from one in an index future, so thresholds adapt to each instrument's history.

Demonstrated in the ORVINUS feature series

Capabilities

What It Is Designed to Do

Intended capabilities. The released feature may differ.

Large-trade detection

Trades above an adaptive, instrument-relative size threshold.

Volume bursts

Clusters of trading that are unusual for the time of day.

On-chart plotting

Large prints drawn as bubbles at their price and time, sized by volume.

Side estimate

Aggressor side shown where it can be determined or reasonably inferred.

Options activity

Unusually large option activity by strike, with call versus put premium, for index options.

In practice

Workflow & Limits

Intended workflow

  1. Open the whale view for an instrument or watchlist.
  2. Review large prints in the context of the chart.
  3. Check whether price respected the levels where they occurred.

What to keep in mind

  • Large trades cannot be attributed to institutions or specific participants with certainty from public trade data. "Whale" describes trade size, not who placed it.
  • For NSE/BSE instruments large activity is estimated from volume changes in broker snapshots and labelled as estimated; it does not reveal who traded or why.
  • 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

Smart Tape

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

Demo AvailableOrder Flow

Liquidity X-Ray

Visualize displayed order-book liquidity over time — where resting orders build, move and disappear.

Demo AvailableOrder Flow

Advanced Footprint Charts

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

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

Interested in Whale Flow?

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