Liquidation Indicator
What Is the Liquidation Indicator?
The Liquidation Indicator shows where margin positions are liquidated. It allows you to see the price level of the liquidation, the volume that was liquidated, and whether the event happened on the buy or sell side.
The Liquidation Indicator is only available for select crypto instruments and exchanges that support liquidation data.
How It Works
The Liquidation Indicator has 2 visualization modes.
On-Chart: Liquidation data is visualized directly on the main Bookmap chart. When a liquidation occurs a marker is displayed, along with aggregation information.
Sub-Chart: Liquidation data is visualized in a sub-chart. Liquidations are accumulated over time and plotted on a line chart.
How to Install the Liquidation Indicator
Please note that there are currently two versions of Liquidation Indicator: a version for Bookmap 7.3 (the latest production Bookmap) and a version for Bookmap 7.4 Alpha.
If you already have an active Global or Global Plus subscription, proceed to the steps below.
If you're a Digital or Digital Plus subscriber, first you need to upgrade your package. Click here to upgrade to either Global or Global Plus. If you're new to Bookmap, first you need to register an account and subscribe to either Global or Global Plus.
To install the Liquidation Indicator for Bookmap 7.3, please follow these steps:
- Download the Liquidation Indicator here
- Launch Bookmap version 7.3 (build 26) or higher
- Connect to a crypto exchange that supports liquidation data and subscribe to at least one instrument
- Click the Configure Addons icon to open the addons configuration panel (or via the Settings Menu > Configure addons)
- In the addons configuration panel, click the “Add” button and then select the cryptocurrency-liquidations-x.xx.jar file
To install the Liquidation Indicator for Bookmap 7.4, please follow these steps:
- Launch Bookmap version 7.4.1 build 5 or higher. (Note: in 7.4 the Liquidation Indicator supports liquidations for backfill data.)
- Connect to a crypto exchange that supports liquidation data and subscribe to at least one instrument
- Click the Configure Addons icon to open the addons configuration panel (or via the Settings Menu > Configure addons)
- In the configuration panel, click the “Manage addons” button and then select the cryptocurrency-liquidations-x.xx.jar file
- Find the Liquidation add-on and click “Install” button
- Activate the Liquidation Indicator for the opened instrument by clicking on the checkbox near the indicator’s name
How to Configure the Liquidation Indicator
Note that settings for the Liquidation Indicator are individually configurable for each instrument.
If an instrument doesn’t support liquidations data, you’ll see the following message on the settings panel:
Liquidation Volume Units
The Liquidation Volume Units setting lets you change how the liquidation data is displayed. There are two options available.
Base Currency: Displays the liquidation volume using the base currency unit (for example, BTCUSDT will display the liquidation volume in BTC)
Quote Currency: Displays the liquidation volume using the quote currency unit (for example, BTCUSDT will display the liquidation volume in USDT)
Currency Threshold
The threshold setting defines the minimum liquidation volume required to display a marker. Note that the currency unit used is based on the Liquidation Volume Unit (see above). So for BTCUSDT, the base threshold unit will be BTC and the quote threshold unit, USDT.
Liquidation Indicator Aggregation
Setting a threshold value of 0 will display all liquidation events, which can lead to a cluttered chart.
To avoid this, overlapping liquidation markers are aggregated and will be displayed in the format 0.498/8, for example.
This indicates that there were 8 separate liquidation events that had a total volume of 0.498, and those events were aggregated into one marker. To see the individual markers, you can zoom in.
Icon Position
The icon position settings define how the liquidation information is displayed on the main chart.
Show liquidation marker: when enabled, Bookmap will display a square icon where the liquidation was triggered.
Show icon values: when enabled, Bookmap will display liquidation volume information on the main chart. The number defines the distance (in pixels) between the position of the liquidation event and the volume information.
If 'Show liquidation marker' is disabled and 'Show icon values' is enabled, you will only see an icon with the volume information.
If both checkboxes are disabled, you will not see any information about the liquidation on the main chart.
Liquidation Sources (available in Bookmap 7.4)
This configuration allows users to display liquidations that come from a specific source. It is available only for multibook instruments.
Liquidation Indicator Colors
Colors for the on-chart liquidation markers and text are fully customizable.
Sub-Chart Configuration
When running in sub-chart mode there are several configuration options available.
Split Buyers/Sellers
Select this option to plot buy and sell liquidations in two separate lines on the sub-chart:
If unselected, buy and sell liquidations are combined into a single line. Sell liquidations are plotted as positive values and buy liquidations as negative values.
Accumulation Mode
Several different accumulation modes are supported:
Liquidation Alerts
The Liquidation Indicator features configurable audio alerts.
Enable Alerts
Select this checkbox to enable voice and text alerts that are triggered when the sub-chart value hits the alert threshold.
Please note that alerts are not supported for 'Sum Chart' and 'Sum Session' accumulation modes.
Alert Threshold
Define the minimum liquidation value required on the sub-chart, to trigger an alert message. For example, a threshold of 0.8 would trigger 3 alerts on the below sub-chart.
Note: If Split Buyers/Sellers is disabled, the threshold will work for both positive and negative values (e.g. if the value crosses -0.8, it will trigger an alert message).
Alert Template
Use this field to customize how you want the alert message to be displayed. The '?' button shows you a list of the available template variables:
- $INSTRUMENT: Full instrument name
- $SIDE: Buy or sell
- $THRESHOLD: Current volume threshold
- $CURRENCY: 'Base Currency' or 'Quote Currency'
An example of your alert is displayed below the alert template field.
Use the RESET button to reset the alert template field to default settings.
Select Test Alert to play an alert using your alert template.
Liquidation Indicator FAQ
Here is a list of frequently asked questions for the Liquidation Indicator.
Which Exchanges Are Supported?
There are currently 3 exchanges that support liquidation data:
- Binance Futures
- Bitfinex
- Bybit
Please refer to the crypto connectivity table for more information on which crypto exchanges support liquidation data.
Note: These exchanges may have some instruments which don’t support liquidation data.
Which Instruments Can I Test the Liquidation Indicator On?
We recommend subscribing to BTCUSDT or ETHUSDT on Binance Futures to start seeing some liquidation events. Note: you may have to wait up to 30 minutes to see the first liquidation.
You can also try PERP instruments on BTCUSDT INVERSE and PERP on ByBit.
Why Don’t I See Any Liquidation Markers on the Chart?
There could be several reasons why you’re not seeing any liquidation events:
Make sure that the exchange and instrument support liquidation data (see the crypto connectivity table). If the exchange isn’t supported you’ll see an error message on the Liquidation Indicator settings panel.
Make sure you’re running the latest adapter for the exchange (Settings Menu > Manage Connections).
Try decreasing the Base Currency Threshold to 0.
Zoom out and scroll around the chart.
Wait until liquidations are triggered on the exchange platform. This usually happens during volatile market conditions.
If you still don’t see any markers, contact support@bookmap.com for further assistance.
What Are the Recommended Settings for the Liquidation Indicator?
We suggest that you experiment with the settings until you find something that works for you.
The exact settings will depend on how you want to use the Liquidation Indicator, market conditions, the specific instrument, zoom level, and your individual needs.
If your chart is too cluttered, we suggest that you increase the Base Currency Threshold.
Is It Possible to See Liquidation Events in Replay Mode?
No. Currently, liquidation events are not recorded. We plan to implement it soon.
Do I See All Liquidation Events by Binance Futures?
No. Binance Futures exchange doesn’t broadcast all liquidation events. It sends only the last event of every second. For example, if there were 100 events within one second, you’ll only see the last event.
How Accurate Is the Liquidation Data?
Bookmap displays what is received from the exchange, so it really depends on the exchange. Most of them provide liquidations as they happen, without any aggregation. Binance Futures is an exception and provides only the last liquidation per second (see above).
Can I See Liquidations on Backfill and Historical Bookmap Data?
Liquidations for backfill data have been supported by Bookmap starting from version 7.4. You can get historical liquidations for supported exchanges and Multibook instruments.
Will I Get Alerts if My Sub-Chart Is Hidden?
Yes, you will always get alerts when the Enable Alerts is selected, even if your sub-chart is minimized or disabled.