The Study panel

What it shows

The panel has two stacked panes that share the same time axis:

1. Price pane (top). Cross-exchange aggregate perp candles. Green = up close, red = down close, wicks show the high and low. Defaults to 1h on the aggregate tier (30m on the per-venue tier) over 168 hours of history; both are configurable from the panel's toolbar.
2. Sub-pane (bottom). A single secondary series, chosen by the trader. Switching the sub-pane keeps the price pane fixed so you can flip between perspectives without losing zoom or context.

The sub-pane switcher

The sub-pane is the reason the panel is worth keeping open permanently. Each option below is a full standalone panel collapsed into one of these sub-pane slots, you don't need a dedicated panel for each metric until you want side-by-side comparisons.

• OI (open interest). Cross-exchange OI history. Pair with price to read the four-quadrant flow (long-build, short-build, long-unwind, short-unwind). Same data as the standalone OI panel.
• CVD (cumulative volume delta). Running sum of taker buys minus sells. Source toggle between PERP, SPOT, and BOTH so you can read perp-led aggression vs spot-led accumulation.
• BSV (buy / sell volume). The non-cumulative taker split. Useful when you want absolute aggression rather than the running balance CVD shows.
• TPO (Market Profile). Time-Price-Opportunity letter map. Shows where time was actually spent at each price within the visible window, value area, point of control, single prints. Imported from the standalone TPO panel.
• VP (Volume Profile). Horizontal histogram of volume by price across the window. Surfaces high-volume nodes (acceptance) and low-volume nodes (rejection / fast travel).
• Funding rate. Aggregate funding APR over the same window, see when the carry signal flipped relative to price.
• Liquidations. Long vs short liquidation volume per bar. Spikes line up directly under the candle that caused them.
• Regime score. The rolling z-score regime panel, collapsed into the sub-pane. Reads a composite regime tag against the same time axis as price.

GEX level overlays

Toggle the level overlay from the panel's toolbar to drape GEX-derived support and resistance across the price pane:

• 0DTE top-10 strikes, by default. The ten same-day expiring strikes ranked by absolute gamma. These are the levels dealer hedging is likely to defend or accelerate from today.
• All-expiry top strikes, slower-moving, structural levels. Worth toggling on for swing-trade context.
• HVL (high volume level), the gamma flip strike. Price below HVL = dealers tend to be net short gamma; price above HVL = net long gamma. Crossing HVL flips the mechanical bias of the day.
• Max pain, the strike at which option holders collectively lose the most at expiry. Often acts as a magnet into expiry on long-gamma days.

Panel mechanics

• Pan and zoom on the time axis affect both panes simultaneously.
• Symbol switcher in the panel header swaps between the tracked aggregate coins (BTC, ETH, SOL, HYPE).
• Interval switcher covers 1m, 5m, 15m, 30m, 1h, 4h, 1d. The history window auto-extends as you go to lower timeframes, no hand-tuning needed.
• Color group chip in the header. Add the panel to a group and the symbol propagates to every other panel in the same group, so flipping from BTC to ETH on Study takes every linked panel with it.
• Hide chrome button strips the toolbar for a clean chartist-mode view; the small restore chip top-right brings it back.

How to use it

Three reading patterns that come up almost daily:

1. Price + OI. Watch for OI rising into a rally (longs piling in, fragile to a flush) vs OI falling into a rally (short cover, exhausting). Same logic mirrored on the short side.
2. Price + CVD divergence. Price makes a new high but CVD doesn't, taker aggression isn't confirming the move. Reversal candidate. Reverse for the downside.
3. Price + GEX overlays. Read price against the levels overlay to see where dealer hedging will resist or accelerate the next move. The HVL line is the most consequential of the bunch.