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Liquidation Heatmap: In short, it predicts the price position where large-scale liquidation events may occur.

Liquidation events occur when a trader's position is closed due to price changes and their margin account balance is insufficient to cover their open positions. To prevent further losses for traders and exchanges, most exchanges provide forced liquidation levels, which are the prices at which trades will be forced to liquidate when entering leveraged transactions.

Traders who can estimate the location of other traders' liquidation levels may gain advantages similar to knowing high liquidity in the order book. Coinglass's liquidation heatmap attempts to predict where large-scale liquidations may occur to help traders find the best liquidity position.

The liquidation heatmap calculates liquidation levels based on market data and different leverage amounts. The calculated levels are then added to the prices on the chart.

As more estimated liquidation levels are added to a certain price, the color of the heatmap changes. The colors range from purple to yellow, where yellow represents a large number of predicted liquidation levels, allowing traders to identify areas of high liquidity.

The liquidation heatmap predicts where liquidation levels will open, but not where they will close. Therefore, the actual number of liquidations will be less. When looking at size, it must be viewed as a relative number by comparing it to other levels. Users can filter multiple major exchanges, trading pairs, and back-dated historical liquidation data.