Order Flow
The stream of incoming buy and sell orders hitting the market — analysis of order flow reveals who is aggressive and where price is likely headed next.
Order flow refers to the sequence and volume of orders entering the market at any moment. Order flow analysis distinguishes between aggressive market orders (takers who move price) and passive limit orders (makers who set the price).
Tools like a footprint chart, time & sales, and cumulative delta expose order flow: where buyers or sellers are dominant, where large prints cluster, and whether up-moves are backed by real buying or just lack of sellers.
Institutional order flow — large block prints, dark pool activity, and unusual options flow — is closely watched as a leading indicator of smart money positioning.