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Chapter 04 · Order flow

What is the difference between executed and resting orders?

Footprint, CVD, and delta are executed. They show what already traded. Heatmaps and the DOM are resting. They show what is still waiting. Do not mix the two. A large resting bid is not a buy that printed. A large buy delta is not a wall still sitting on the book.

Delta is aggressive buy volume minus aggressive sell volume. High positive delta does not mean price must go up. Often it is the opposite. Aggressive buyers can hit a resting sell wall and get absorbed. Price fails. The people who lifted the ask are now stuck. That failed lift is information. The raw delta number by itself is not.

Sources: How to actually trade order flow