TTW Iceberg Detector

The TTW IceBerg Detector is a real-time volume-based tool that reveals hidden liquidity by detecting iceberg orders using Market by Order (MBO) data. It uncovers repeated order replenishments at the same price level, typical of institutional iceberg strategies, supporting traders in identifying potential accumulation or distribution patterns.

Key Features

Real-Time Iceberg Detection

Instantly identifies hidden institutional orders based on Market by Order (MBO) data.

Precision Identification

Identifies repetitive order replenishments at identical price levels, detecting iceberg behavior based on MBO data patterns.

Visual Alerts

Highlights detected iceberg activity directly on the chart, allowing traders to respond to detected activity in real time.

Fully Integrated with ATAS

Designed specifically for seamless use within the ATAS platform, enhancing professional-grade order flow analysis.

How It Works

The TTW IceBerg Detector leverages Market by Order (MBO) data to uncover hidden liquidity patterns associated with institutional iceberg orders. Unlike traditional indicators that rely on aggregated volume or price action, this tool monitors individual order entries, modifications, and cancellations in real time.

Order Replenishment Detection The indicator tracks the behavior of limit orders at each price level. When a visible order is partially filled but then immediately replenished with the same or similar quantity, without the total volume being reflected in the order book, it is flagged as potential iceberg behavior.

Pattern Recognition Using MBO Since MBO data includes unique order identifiers, the tool can detect whether the same entity is repeatedly adding to a limit order at a specific price. This pattern may indicate stealth accumulation or distribution activity, which the trader evaluates independently.

Filtering and Sensitivity Settings Users can define thresholds (e.g., minimum volume, number of replenishments, or time window) to fine-tune the sensitivity of detection and reduce false positives.

Visual Output Once iceberg activity is detected, the indicator provides real-time visual markers directly on the chart.

By visualizing order book patterns that are not immediately visible through standard tools, the TTW IceBerg Detector supports traders in analyzing order flow dynamics — making it a valuable tool for order flow and volume-based analysis.

The indicator offers a range of customizable parameters, allowing traders to adapt it to their specific analytical approaches and markets.

Use Case Examples

Spotting Hidden Support and Resistance A trader notices repeated iceberg orders appearing at a specific price level during a consolidation phase. This may suggest that a large player is active at that level — a hypothesis the trader assesses independently.

Analyzing Breakout Zones Before evaluating a potential breakout, a trader uses the IceBerg Detector to assess whether iceberg sell orders are present at the breakout zone. If iceberg sell orders appear at that level, the trader independently evaluates whether to proceed with or adjust their analytical approach.

Scalping Around Iceberg Clusters A short-term trader sees multiple iceberg detections stacking at a key level. This cluster may indicate a significant liquidity concentration at that level.

Volume Profile Integration A trader combines the IceBerg Detector with volume profile and observes iceberg buy orders at the value area low (VAL). This provides additional data points for independently evaluating a mean-reversion scenario.

License Types

Available as Monthly, 6-Monthly, Yearly, and Lifetime License