Another idea, the raw total volumes could be used for a total bid USD/total ask BTC chart, would be interesting to see how that correlates with price.
This what I suggested some time ago for discussion. And I think in this case it would be good to use filtered raw data to have meaningful estimation for the price.
How can we call this parameter - expected market price or general market expected price? or? Is there any existing parameter for this in financial world already?
I'm not sure if there's a term for it, but total bids:total asks seems clear enough. I'm not sure if filtering would improve it and if so which filter, so again it would be nice to capture some data and compare.
Another one that would be good to have is a moving average of the buys volume:sells volume ratio over windows of e.g. 10m, 1h, 3h, etc.