How to Read the Gdax Open Orders and Fills Window

The interface to Coinbase Pro tin can exist a footling overwhelming when starting out and in particular the charts.  In this tutorial we accept a look at the Depth and Price charts available in Coinbase Pro and how to read them.

What are the Coinbase Pro default charts

When yous offset login to Coinbase Pro you will see two charts in the heart of your screen as seen in the screenshot higher up.  The top nautical chart shows the cost of your chosen cryptocurrency over time and is chosen the Price Nautical chart.  Whilst the second chart shows the current orders for that cryptocurrency. Requests to buy are shown in greenish and those in ruddy are sell requests, this is called the Depth Chart.

Each of these charts relates to the cryptocurrency yous have chosen to trade.  To view the chart for another crypto at the top left of your screen choose 'select market' and select the crypto you would like to view.

Now we accept a bones agreement of the charts let'south take a more than detailed expect at the Depth and Price charts and explicate how to read them.

Reading the Coinbase Pro Price Nautical chart

Candlestick Chart

The price chart shows the price of the chosen crypto asset over time.  The default view is a candlestick view, each candlestick represents the price move for the chosen fourth dimension menstruation.  And then, for example if you are on the daily chart the candlestick represents the price movement over that twenty-four hour period or on the hourly chart only for that hr. A more descriptive name for a candlestick chart is a Open up High Low Close Chart (OHLC). Since this describes exactly what we are seeing

• Body – The thick rectangle represents the departure betwixt the open up and close price for the menstruation and is chosen the torso
• Colour – The color of the torso (rectangle) represents the management of the toll move. red for cost closed downward, green for price closed upwards
• Wicks – The thin lines at the top and bottom of the block are called wicks. These show the high and low prices for the menstruum

Below the main price chart, you volition see some greyness bars, these represent the volume of merchandise i.east. how many people were ownership and selling during a menses. Technical analysts believe that book is an of import indicator to verify that a move is supported by sufficient volume.

Getting exact values from the chart tin can appear difficult but if you hover over whatsoever candlestick y'all volition see the verbal values for the open up, high, depression, close and volume shown towards the top right.

Towards the peak left of the chart you tin can choose overlay options.  The available overlays are EMA 12 and EMA 26, which are moving average values.  Moving average have an average of the days prices to smooth out toll data and make information technology easier to spot a trend. EMA stands for exponential moving average and differs from a standard moving average equally it puts greater emphasis on recent prices past giving these more than weight in the calculation.

The other cardinal option available to yous is to change the fourth dimension period that you are viewing. It is possible to view charts showing values between ane minute and 1 day.

Line Chart

Line charts are some what easier to interpret as they simply show the closing price over fourth dimension.  The book is again shown nether the chart merely this time the volume has a colour. Green represents the toll has airtight up for the period and red down.

If you are finding this useful you will enjoy our complete Coinbase Pro Tutorial

Coinbase Pro Depth Chart Explained

The Depth Chart confuses a lot of people, but when yous break downward logically what it is showing it becomes clearer to understand and that'south what we exercise in this department showing you how to read the Coinbase Pro depth chart. In summary the depth chart is a graphical representation of demand and supply in the electric current market. As traders make orders to buy or sell these requests are added to the order volume until the asking is filled.  The depth chart is a graphical representation of the guild volume showing the total value of requests to buy and sell at various price levels.

The Ten axis (horizontal) represents the cost of the cryptocurrency and the Y axis (vertical) represents the number of coins that could be bought or sold at that level.  For instance, the nautical chart above shows a Euro and Bitcoin trading pair. At a toll betoken of 6260 Euros there would be demand for the purchase of approximately 200 Bitcoins. On the sell side indicated in ruby we tin can read that for a price of 6500 Euros there would be 100 Bitcoins for sale.

The plotted values are cumulative. For the buy side this means each indicate on the nautical chart represents the full of people that will buy at or below that level.  So the buy level plotted at 6300 will include all those who volition to purchase at that level plus those that put in lower bids such as 6200, 6100 etc. The sell side is the opposite with each point showing the number of people that are willing to sell at that level or above.

The buy requests shown in green will slope downwards left to right demonstrating the police force of demand that more volition be demanded equally the cost decreases.  The cherry sell side volition slope upwards left to right, showing that as prices rise more people are willing to sell. The point where demand and supply encounter in the middle is the market cost and is the electric current price of the cryptocurrency. Hopefully this explanation of how to read Coinbase Pro Price and Depth chart has been useful and will aid you lot with your Coinbase Pro trading.  Make sure you lot empathise the risks before trading cryptocurrencies.

If your mind is still diddled you may prefer the simpler interface of Coinbase, y'all can read further in our previous article almost the differences between Coinbase and Coinbase Pro

Farther Reading

Coinbase Pro Fees

How to use Coinbase Pro

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