ATAS MBO Bundle – Iceberg, Sweeps & Stop Runs Tracker for Ultra

Icebergs are large limit orders whose biggest part is hidden from other market participants. As soon as the visible part is filled, the exchange automatically reloads the next slice from the hidden pool (a refill). Visually the volume at that price doesn't change — but with every refill the order loses its time priority and moves to the back of the queue.

The Iceberg Tracker analyses unique order IDs, the initial volume in the queue, how much volume was executed, and whether the visible part and the queue priority changed.

What the indicator shows:

• Order lifecycle line – the exact price where the iceberg sits and its side (bid or ask).
• Hidden volume calculation – cumulative volume and trades that contributed to uncovering the hidden limit.
• Trade breakdown – in “Show Individual Trades” mode you can split a large iceberg into individual dot entries directly on the chart.
• Interactive analysis – hover tooltips with detailed statistics (Detail Panel) and a step-by-step chronology (Timeline) of all events for the selected order.
• Activity histogram – the lower panel shows activity distribution across bid/ask and the current delta.

A sweep is an aggressive market order with significant volume that is executed instantly across several price levels in a row, literally sweeping liquidity out of the order book. On a regular trade tape such a burst breaks into dozens of small, fragmented prints and gets lost in market noise — making it hard to spot the true size of market aggression in time and judge the strength of the move.

The Sweeps Tracker analyses unique aggressor IDs, finds the fragmented executions reported by the exchange and automatically reassembles them into the original single order.

What the indicator shows:

• Breakout zone – visual highlighting of the price corridor swept by a single market impulse.
• True aggressor volume – the real cumulative size of the large order before the exchange engine split it against the book limits.
• Direction of the push – clear marking of the aggressor side (buy sweep or sell sweep) that triggered the impulse.
• Interactive analysis – hover tooltips with detailed statistics on the number of price levels hit, time and total volume.

Stop orders (SL) are protective or breakout orders stored on the exchange server but invisible in the order book until they execute. When price touches the trigger level they instantly turn into regular market orders. When large stop clusters build up on neighbouring price levels, a cascading avalanche occurs — it quickly drains liquidity and fires a sharp price impulse or a market reversal.

The Stop Runs Tracker analyses unique order IDs in the MBO stream, identifies hidden stop orders at the moment they convert into market orders and consolidates them into a single array.

What the indicator shows:

• Cascade zone – exact price levels where the stop avalanche was triggered, and its direction (buy stops or sell stops).
• Triggered stop volume – the exact number of contracts force-executed inside the cascade, to judge the size of the imbalance.
• Trigger speed and density – execution-intensity markers that help you tell regular market orders apart from panic position closing.
• Interactive analysis – hover tooltips with detailed statistics on volume, time and number of triggered orders in each cascade.

The MBO Bundle is moving beyond the footprint chart: in the current Beta version the trackers now also run directly inside the ATAS Heatmap. The screenshot above shows the Iceberg Tracker live on the NQ and ES heatmap — detected hidden orders are marked with the well-known iceberg bubbles and their cumulative volume labels right on top of the historical liquidity.

This combination is powerful: the heatmap visualises the resting limit-order liquidity over time, while the MBO trackers mark the exact moments where hidden institutional size was actually executed at those levels.

What the indicator shows:

• Icebergs on the heatmap – hidden orders appear as bubbles with their uncovered volume, directly on the price level where the iceberg was working.
• Liquidity context – see instantly whether an iceberg sat on a real liquidity wall or on a thin part of the book.
• Beta status – the heatmap integration is still in Beta, so expect refinements — Ultra users with the MBO Bundle can already test it.

1. Have an active ATAS Ultra license (use code 2KZ••••••• for 10% OFF the 3-month plan or NVM••••••• for Ultra Lifetime).
2. Open ATAS and go to the Add-ons / Marketplace tab.
3. Enable the MBO Bundle — it's currently listed as free.
4. Add the Iceberg / Sweeps / Stop Runs indicators to your footprint or DOM layout.

A complete live-market walkthrough of the MBO Bundle is on the Benjotrade YouTube channel: ATAS MBO Bundle, Iceberg, Sweeps, Stops Tracker – kostenlos testen.