Earlier this week MarketDelta had a webinar from a guest speaker who talked at length about what he referred to as ice berg orders. The audio in the webinar was bad at first but got fixed shortly after, so just skip ahead if needed. In the webinar Anthony showed how to spot the institutional orders as they are transacted and shown on the Footprint. Today I was trading and had a beautiful trade based on this information.
Here is another view of the same chart except showing the volume Footprint. It shows a large volume cluster right at the high of the day. Also notice how there are some large volume prices when price began to fall away from the highlighted level in the chart below.
The webinar mentioned above will provide added insight into interpreting this information if you want more information.