Every leveraged position has a breaking point: a price where the exchange force-closes it. The liquidation heatmap maps those breaking points across the whole market, in real time, so you can see where pressure is building before it releases.
Each layer is an independent toggle in the chart's LAYERS row. The field carries the forward cascade at the live edge; the other three sit on top of it.
The projection. We read the price and volume tape candle by candle. Each burst of activity is a cohort of leveraged positions opening near that price. We project it forward to where it breaks at every common leverage tier (25× to 100×) using the liquidation geometry, weight it by how anomalous the flow was, and accumulate it into the field over time. Standing fuel ages: a zone nobody refreshes slowly dims toward the dark toe, while a zone that keeps attracting size stays bright. Because it is computed purely from price action, the field renders on every symbol and every timeframe, and it reproduces identically in replay, bar for bar, with nothing baked or stored.
The confirmation. On liquid markets we layer the real data on top: live open interest, the trade footprint, the exchange's actual maintenance-margin math (not the "one divided by leverage" shortcut), and the live liquidation feed. When a level fires, the map calibrates against what really happened. These become the Levels: fewer lines, higher confidence. The Observed layer plots every confirmed forced liquidation as it prints, so the estimate and the reality sit on the same chart.
The field shows the whole pressure landscape on any market; the Levels mark the spots the real data confirms. We label each for what it is: an estimate that shows its work, not a guess dressed up as fact.
Because the field is computed from price itself, replay is exact, not an approximation. A live snapshot only ever shows the current fuel; it cannot show you what a cascade actually does. Replay can: rewind a historical move and watch the fuel build, the zones light up, and the liquidations fire in sequence.
Guided lessons walk you through real archived events on the same display: how a cluster formed and how it burned, move by move, on real market history. How replay works →
Research turns that study into a complete-record question: search for liquidation intensity, cascade clustering or a dollar amount liquidated over the trailing hour, then inspect every match and its outcome distribution.
The heatmap shows where the fuel is, not where price must go. Exchanges report only a fraction of liquidations, so we calibrate on where they happen, not the dollar totals, and we label estimates as estimates. Nothing here is trading advice.