The deep-book warning

When the top of the book and the deeper book disagree, the console shows a deep-book warning. Treat it as a reason for caution rather than a signal. It does not predict price, and it is not an entry or exit cue.

The indicator computes the flow signal twice, once at depth 1 (top of book) and once at the configured Level Depth (10 by default), same formula, and when both are at least 1σ from their norm in opposite directions, the instrument's console tile shows the orange line:

! TOP OF BOOK FIGHTING THE DEEP BOOK

This is deliberately shipped as a warning glyph, not an entry arrow: it marks a disagreement in the book that you may want to treat with caution, and it is not a signal to trade. It requires both depth variants to be warm before it can show, and it cannot be computed from an L1-only feed.

How often it appears

At the default settings the deep-book warning appears only occasionally. By default a level that moves into the depth is matched against the whole previous book, so the deep reading and the top-of-book reading tend to move together and are rarely far apart in opposite directions. Two settings change that:

• Count Levels Entering The Depth: tick it. This may make the warning appear much more often.
• Level Depth: raise it, for example to 40 or more. This may help on some markets and not on others.

Both are on the Indicator Settings tab; click Update after changing them (see the settings reference).

Both settings also change the main flow readings, the lines, the σ readout, the bands and the alerts, not just the warning: the warning compares the main reading with a top-of-book reading made the same way. Changing either one starts the warm-up again. The 1σ threshold is fixed and is not a setting. The two readings are compared on the Primary Window, so a shorter Primary Window (or a smaller S/R Lookback Multiplier) warms up sooner and lets the warning show sooner after a start.

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