Trading Concept
Order Book
The real-time list of all open buy and sell orders for an asset on an exchange, organized by price level.
The order book is the visible supply and demand for an asset at every price. Bids (buy orders) stack on one side, asks (sell orders) on the other. The gap between the highest bid and lowest ask is the spread. The depth at each level shows how much liquidity exists before the price moves.
Order book shape matters for execution. A thin book (few orders at each level) means even small trades move the price. A deep book absorbs large orders with minimal impact. The book is dynamic — orders are placed, filled, and canceled continuously.
The botwir3 adapter layer reads order book data from connected platforms where available. The strategy module uses book depth to adjust signal confidence and size recommendations. The maker-first execution module uses the book to determine limit order placement. Not all platforms expose order book data — some (like TCGPlayer) use listing-based pricing instead.