easy · Order Flow Analysis tape-reading-time-sales

What is the primary function of the Time & Sales record, commonly referred to as 'the tape'?

1. To provide a chronological record of every executed trade, including price, size, and time.
2. To hide institutional orders from retail participants through algorithmic masking.
3. To display the current resting bids and offers in the order book.
4. To calculate the expected future volatility of an asset over a set period.

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