You can access the Coindirect Exchange by clicking on the ‘Exchange’ option in the top menu. To view and place orders, you will have to be logged into your account.
The exchange page consists of the following components:
- Chart area
- Order book
- Trade history
- Order form
- Fund wallet
- Orders list
The order book lists the sell orders (or asks) in red at the top of the order book, and the buy orders (or bids) are listed in blue at the bottom of the order book. The orders are sorted from highest to lowest. The best average market price is displayed in the middle of the order book. As traders place buy and sell orders in the market at different prices, the order book is updated in real time. Orders are executed when prices match and the market price is then updated.
The chart is displayed as a candlestick chart by default, but you can change it to a line chart by clicking the icon in the top left of the chart area. Both types of charts depict price range movements over a specific time period. The width of each candlestick will change based on which time selector you have chosen, i.e. 30 days, 1 day, 1 hour, 15 minutes, 5 minutes or 1 minute. So if you choose 15 minutes, each candlestick will represent the price movement for a 15 minute period. You can also increase or decrease the entire time period depicted in the chart by clicking the + and - buttons.
Underneath the chart we display the MACD (Moving Average Convergence/Divergence), a more advanced trading indicator. You can close this section of the chart if not required or move it to the top of the chart area.
The trade history section is a chronological list of the most recent trades executed on the market. The three columns represent the price, amount and time of each trade.
The order form is used for placing orders for the particular market or currency pair selected. You will need to indicate whether the order is a market or limit order and whether it is a buy or sell order. When an order is placed, it goes to the order book and the open orders list. Once the order is matched, it will be listed in the Trade History section and the completed orders list.
The fund wallet section below the order form lists the current wallet balances in your Coindirect account for the specific currency pair. Clicking the ‘Fund’ button allows you top up either of your wallet balances.
The orders list lists all buy and sell orders that you’ve placed on your Coindirect account. You can view both open and completed orders and can cancel orders from this section.