testing testing testing, page-52

Cyberguy,

From the buy order sequence you can arrive at whether or not the buy was from the queue or not. Essentially:
- whenever the trade price goes up it's from a buyer that wasn't on the queue.
- whenever the trade price goes down it was from a seller that wasn't on the queue.
This is for the most part, and assumes that there is no significant gap between the highest buy price on the queue and the lowest sell price on the queue such that buyers may be continuing to queue up at higher prices yet not yet find sellers until you later get a hit at what is now a higher price, and vice versa that sellers may be continuing to queue up at lower prices yet not yet find buyers until you later get a hit at what is now a lower price. For the most part this hasn't been happening.
Now to figure out which volume is bigger, offscreen buyers and onscreen sellers vs onscreen buyers and offscreen sellers you need to look at the volumes on each of these transitions. You also need to look at the number of individual trades at the exact same time (was it one buy gobbling up a bunch of sells or was it one sell into a bunch of buys).