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Re: Volume Indicators for MT4

191 by moey_dw
J_C_Anderson wrote: Thu Sep 19, 2019 2:12 pm This question might be too general, but it is quite important. What is the source from the volume data? If we speak about stocks it is quite easy - it would be the actual volume traded on particulr exchange or group of exchanges (like it works in US). But what happens at Forex? Since the market is decentralized,we can assume that we see something like estimated volume calculated by the broker, which includes the impact of institutional participants and does not include the trades made by retial traders since retail brokers act as a counterpart to this trades.

Please, give a bit more light on this issue. To my mind, it is important to understand the nature of volume to be able to make decisions using it.
source of volume is ticks.............. u know what tho................ tick volume shall not be frowned upon bcos studies show strong correlation between tick volume & real volume :thumbup:
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Re: Volume Indicators for MT4

193 by Loki
moey_dw wrote: Thu Sep 19, 2019 3:42 pm source of volume is ticks.............. u know what tho................ tick volume shall not be frowned upon bcos studies show strong correlation between tick volume & real volume :thumbup:
If i may... yes, it looks like there is a correlation but that same study also points out to a very important difference:
tick volumes is volatility in transaction quantity rather than transaction quality.
Meaning: you need extensive knowledge of VSA to get closer to the overview that real volume gives you.
And yes, though the OTC FX market is obviously a decentralized market, real volumes can be a true advantage if you pick the right data (non reporting dealers like institutional investors, investment banks, hedge funds etc... aka smarter money). To my knowledge, transaction data for smart money (inter-bank) isn't available for the mass.

Just my opinion.
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Re: Volume Indicators for MT4

198 by naluvs01
Hi everyone,

Here is a volume indicator that is very interesting. I don't remember where I got it from, but I hope someone finds it useful. It has different mode settings that can be adjusted to your liking.
The Mode settings are at the top: Set, Candle, Variable & Volume. Happy trading!

(hint) I wish it had push notifications...
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Re: Volume Indicators for MT4

199 by ChuChu Rocket
naluvs01 wrote: Fri Nov 15, 2019 2:47 am Hi everyone,

Here is a volume indicator that is very interesting. I don't remember where I got it from, but I hope someone finds it useful. It has different mode settings that can be adjusted to your liking.
The Mode settings are at the top: Set, Candle, Variable & Volume. Happy trading!

(hint) I wish it had push notifications...
Interesting stuff you have in your collection Nal. Will definitely check it out mate, thanks for posting these goodies :)

Re: Volume Indicators for MT4

200 by mrtools
naluvs01 wrote: Fri Nov 15, 2019 2:47 am Hi everyone,

Here is a volume indicator that is very interesting. I don't remember where I got it from, but I hope someone finds it useful. It has different mode settings that can be adjusted to your liking.
The Mode settings are at the top: Set, Candle, Variable & Volume. Happy trading!

(hint) I wish it had push notifications...
Would need the source code to do modifications.

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