Any better volume indicator for MT4? | Forex Factory

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Any better volume indicator for MT4?

  • #1
  • First Post: Sep 26, 2020 10:05pm Sep 26, 2020 10:05pm
I am not talking about VSA or Better Volume, I want an indicator that shows a nicer version of the tick volume with thicker bars and showing spikes and I am able to see increase and deceases of volume.
  • #2
  • Sep 26, 2020 11:25pm Sep 26, 2020 11:25pm
Quoting pa18
I am not talking about VSA or Better Volume, I want an indicator that shows a nicer version of the tick volume with thicker bars and showing spikes and I am able to see increase and deceases of volume.
The Forex market is a decentralized market, which means that there is no formula for volume or method of keeping track of the number of contract and contract sizes, such as in the stock market.
  • #3
  • Sep 27, 2020 1:01am Sep 27, 2020 1:01am
Quoting Techanalyst
{quote} The Forex market is a decentralized market, which means that there is no formula for volume or method of keeping track of the number of contract and contract sizes, such as in the stock market.
Yes, I know. But that's not my question.
  • #4
  • Sep 27, 2020 6:31am Sep 27, 2020 6:31am
Quoting pa18
{quote} Yes, I know. But that's not my question.
Read your own question again, and read the answer. It was answered. There is no way to read volume in forex. There is no formula to track volume in forex.
  • #5
  • Sep 27, 2020 7:36am Sep 27, 2020 7:36am
Quoting Techanalyst
{quote} Read your own question again, and read the answer. It was answered. There is no way to read volume in forex. There is no formula to track volume in forex.
You didn't answer my question.

I know I heard your answer before.

But there is tick volume.

I am asking about tick volume indicator.

Stop giving me newbie answers!
  • #6
  • Sep 27, 2020 7:41am Sep 27, 2020 7:41am
Quoting pa18
{quote} You didn't answer my question. I know I heard your answer before. But there is tick volume. I am asking about tick volume indicator. Stop giving me newbie answers!
https://www.quantumtrading.com/produ...mes-indicator/

There is your tick volume with how many times price has changed within the bar, which is still useless just like volume in forex. There you got the advanced answer not newbie.
  • #7
  • Sep 27, 2020 11:24am Sep 27, 2020 11:24am
Quoting Techanalyst
{quote} https://www.quantumtrading.com/produ...mes-indicator/ There is your tick volume with how many times price has changed within the bar, which is still useless just like volume in forex. There you got the advanced answer not newbie.
Incorrect.

Just because you don't know how to use it doesn't other can't. The following a signal to short. At one of my levels.

Attached Image (click to enlarge)
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  • #8
  • Sep 27, 2020 2:45pm Sep 27, 2020 2:45pm
Quoting pa18
{quote} Incorrect. Just because you don't know how to use it doesn't other can't. The following a signal to short. At one of my levels. {image}
Don't be an amateur. You can't read volume, and tick charts will not help you much. Unless you work for a bank or institutional firm that can provide you with some kind of tick. Where you have millions of $ to trade with, and you can make 2-5 pips and make thousands of dollars. I don't have to use it, because it does not work. If you do not know how to trade, go back to the website babypips and start there. Use price action and supply/demand that is the thing that works the most. Pay attention to the fundamentals. Stop looking for something that is not there for retail traders. You don't know how to use it because it is not there. Read the charts, candelsticks. All the data is there. Don't need any indicators or volumes that will not help you at all. Data is on the charts, that is all you need.
  • #9
  • Sep 27, 2020 7:54pm Sep 27, 2020 7:54pm
Quoting Techanalyst
{quote} Don't be an amateur. You can't read volume, and tick charts will not help you much. Unless you work for a bank or institutional firm that can provide you with some kind of tick. Where you have millions of $ to trade with, and you can make 2-5 pips and make thousands of dollars. I don't have to use it, because it does not work. If you do not know how to trade, go back to the website babypips and start there. Use price action and supply/demand that is the thing that works the most. Pay attention to the fundamentals. Stop looking for something...
Again, if you don't know how to use volume just say it.

You don't need thousands of pips to make money. It is not coincidence that there's high volume tick data going into a level of SR and the candle closes weak. It happens on every time frame and everyday.

See, you talk about PA but you don't know what you're talking about.

If it gives a 0.000001% edge I will use it.
  • #10
  • Sep 27, 2020 8:43pm Sep 27, 2020 8:43pm
Techanalyst ... why so aggressive on this subject?

Just because volume in Forex does not work for you or you do not understand it does not mean it does not exist or it does not work at all

It does, I use Volume tick and volume price analysis and I make money using VPA in FX

PA18 ... try to focus on relative volume and not the absolute volume numbers from one of the major brokers .. its a very good proxy

Else get commercial data feed from the futures market via CME

The thinking in the Better Volume Indicator posted elsewhere on FF is partly right and on the way there but misses some of the subtleties of Stopping Volume and Shake Outs .. for that you need to roll your sleeves up and code your own systems from the works of Wyckoff and Tom Williams

  • #11
  • Sep 27, 2020 8:50pm Sep 27, 2020 8:50pm
It is not me, it is what volume is in forex. There is no formula for volume in forex. It is not that no one knows how to use it, it is there is no way how to use it. Done with this topic. Bye.
  • #12
  • Sep 27, 2020 8:53pm Sep 27, 2020 8:53pm
Quoting pa18
{quote} Again, if you don't know how to use volume just say it. You don't need thousands of pips to make money. It is not coincidence that there's high volume tick data going into a level of SR and the candle closes weak. It happens on every time frame and everyday. See, you talk about PA but you don't know what you're talking about. If it gives a 0.000001% edge I will use it.
I do know price action and supply/demand. It is what works best in forex. No, there is no way to read the volume or tick volume. Forex is decentralized, there is no formula for volume in forex. It does not work, it never did work, it never will. If you see any volumes, it is like any other indicator, it happens after the fact. So charts reading are the way to go. That is your data, that is your volume, that is your confirmation for entries, that is everything in the charts. You see I know a lot about PA. But either way like I said, done with this topic. Bye.
  • #13
  • Sep 27, 2020 9:24pm Sep 27, 2020 9:24pm
Quoting Techanalyst
{quote} I do know price action and supply/demand. It is what works best in forex. No, there is no way to read the volume or tick volume. Forex is decentralized, there is no formula for volume in forex. It does not work, it never did work, it never will. If you see any volumes, it is like any other indicator, it happens after the fact. So charts reading are the way to go. That is your data, that is your volume, that is your confirmation for entries, that is everything in the charts. You see I know a lot about PA. But either way like I said, done...
YES, I know all that. No need to repeat it over and over again.

I didn't ask for you opinion on tick data, I ask for a better looking tick data indicator.

I told you the logic of how I look at the tick data. I told you I don't use it to capture 1000s of pips in one trade. With a 90% win rate, I don't think I am talking out of my ass.

Here's a study on tick data volume https://volumeprofile.org/paper.pdf which I read briefly. I read it briefly because I already knew the volume in forex ON MY BROKER was good enough to trade with.
  • #14
  • Sep 27, 2020 9:27pm Sep 27, 2020 9:27pm
Quoting pa18
{quote} YES, I know all that. No need to repeat it over and over again. I didn't ask for you opinion on tick data, I ask for a better looking tick data indicator. I told you the logic of how I look at the tick data. I told you I don't use it to capture 1000s of pips in one trade. With a 90% win rate, I don't think I am talking out of my ass.
It is not an opinion. It is a fact. Yes it needs to be repeated until you get it through your head. Volume, tick volume does not work in forex. Done. Yeah sure, seems like every retail trader that day trades have 90% win rate. Sure. Get out of here. Bye.
  • #15
  • Sep 28, 2020 12:34am Sep 28, 2020 12:34am
Quoting Techanalyst
{quote} It is not an opinion. It is a fact. Yes it needs to be repeated until you get it through your head. Volume, tick volume does not work in forex. Done. Yeah sure, seems like every retail trader that day trades have 90% win rate. Sure. Get out of here. Bye.
Fact to who, you? A swing trader?

GTFO...
  • #16
  • Oct 1, 2020 11:29am Oct 1, 2020 11:29am
Hey pa18,

Have you tried this one?

Here is a link on how to use it.

https://fxssi.com/forex-volumes-indicator

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 88 KB
Attached File(s)
File Type: mq4 BetterVolume 1.5 new with Alerts.mq4   7 KB | 3,115 downloads
  • #17
  • Edited Oct 2, 2020 4:01am Oct 1, 2020 1:08pm | Edited Oct 2, 2020 4:01am
Quoting pa18
{quote} Incorrect. Just because you don't know how to use it doesn't other can't. The following a signal to short. At one of my levels. {image}
pa18 stay on your course. Forex Tick Volume absolutely reliable and in some cases nearly 100% match to Futers. There is no point to look into number of contracts or market depth. You only need total. However you must find a good data provider!
Do not listen to nubs who don't make a dime in this business.

Here is a good trade for you based only on Volume by Price: Buy GBPNZD 1.9331 SL 1.9298
Based on "Tick Volumes" GBPNZD is very bullish if 1.9298 holds

Also EURNZD Buy 1.75600 SL 1.72260 if it ever gets there.

Good luck
  • #18
  • Oct 1, 2020 3:34pm Oct 1, 2020 3:34pm
Looks like there is a number of MT4 built-in volume indicators as well.
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  • #19
  • Jul 10, 2022 2:15pm Jul 10, 2022 2:15pm
Tick volume is completely useable and over 90% accurate with futures volume that guy is absolute moron and has obviously never made research on volume just going with the trash 80% of the industry spews out. Forex is decentralized blah blah blah. Do some research and stop talking out of your ass. Price action traders only see half the picture. Volume is the other half of forex if someone wants to use volume. Let him use his god-damned volume.
  • #20
  • Last Post: Aug 5, 2023 10:17am Aug 5, 2023 10:17am
guys..

After so many years, I dont understand why we havent Made a group effort, so we can get data from the CME FX futures markets.

Yes, tick volume is a nice starting point, but altough the futures market volume is very small compared to spot FX, it's a considerable sample to get a feeling of the market sentiment.

It's not only the volume, it's Also the breakdown of the volume, that can show us where real imbalances , inefficiencies and trapped orders have ocurred.

Every FX broker should offer this infomation in my opinión, but maybe we can Make It happen some other way.

Anyway, question for the community.. what's the cheapest way you have found to get real time futures volume data with breakdown included (order flow, DOM, etc)???
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