I have been watching the order flow for a few weeks and was wondering if time is a important factor.
For example:
if 200 sell limit orders are filled by 220 buy market orders in 2 seconds at 1 position (after trending up, normal amount of limit orders is around 100)
is this a stronger bearish sign compared to
200 sell limit orders filled by 220 buy market orders in 60 seconds.
I ask this because sometimes market order just "eat" (fills) the limit orders at a position in a few seconds and sometimes it takes a minute or even more. Price just stays at one position, it doesn't tick higher or lower.
Just wondering if there is any meaning to such behavior.