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The exchange interface explained

To access the Luno Exchange, use the menu on the left side of the screen and select EXCHANGE.


The interface looks like this:


The exchange page consists of the following components:

  • Order book

  • Candle / line / depth charts

  • Recent trades list

  • Buy / sell order form

  • Open / completed orders list


The order book:


The order book lists the current limit orders resting in the market. Red represents sell orders (or asks) and green represents buy orders (or bids). As traders place buy and sell orders in the market at different prices, the order book is updated. Orders are executed when prices match and the market price is determined. The "245 spread" in the illustration above represents the difference between the highest bid and the lowest ask.


Charts:

The conventional candle chart depicts price range movements during specified time periods. The grey bar chart is an indicator of volume traded in the market over time.


The line chart is a simpler representation of price movement over time.


The depth chart is a graphical representation of the pending limit orders in the order book.


Recent trades:

The recent trades section lists, chronologically the most recent trades executed in the market. The three columns represent the time, price and volume of each trade.


The order form:


The dynamic order form is used for placing orders. Notice the Buy / Sell selector in the top right corner.

When an order is placed, it goes to the order book and the open orders list. Once the order is matched (or partially matched) it will be listed in the Recent Trades section on the right.

*Hint: If you click on a sell order in the order book, the order form will auto-complete to match those orders and BUY the Bitcoin available up to the specific ask price. Similarly, if you click on a buy order in the order book, the order form will auto-complete to match those orders and SELL your Bitcoin down to the specific bid price.


Open orders:

Once you've placed a limit order, it will be displayed in the Open Orders section. From here you can stop these orders if they have not yet executed.


Completed orders:

Switching to the Completed Orders view allows you to view your own trade history.


Related articles

How does a limit order work and what are “maker” and “taker” orders?

What are the fees for trading on the Luno exchange? 

How does the Luno Exchange work?

How does order matching work?


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