What Is Iceberg Order Activity?
An iceberg order is a large order that displays only a portion of its total quantity in the order book.
As visible quantity gets executed, additional quantity may become available.
This allows large participants to execute without displaying their entire order at once.
Repeated executions at the same price, with liquidity seemingly replenishing, may suggest iceberg activity.
Important: Replenishment is a clue, not proof of a specific participant's identity or intention.
Do you monitor repeated liquidity replenishment?
