In Limit Order Books, orders at the same price are grouped and I call this group of orders a "price level"(I don't know if there's a name in literature).
The total volume in this price level changes in time when aggressive trades occur or new orders are added to the price level.
At some point in time, the TOB will be consumed completely and removed from the LOB or a better price enters the LOB and it becomes the new TOB.
Is it possible to model the volume of TOB of a stock as a stochastic process? Actually, I wonder if it is possible to forecast if the TOB price will be consumed completely in a short period of time...
Thanks in advance