Forex volume

a number between 4000 - 8000 for a breakthrough or big reversal warning

today for an example during the GBP news there were 4000 online traders, yupe i guess they are just here for checking the news

i expect more during the GBP interet rate announcement in 2 hours

Some clever person posted a discovery in another thread.

The MT4 command Volume[] is defined as tick volume.

I just ran a quick test and verified that the volume on the screen in Interbank is tick volume. To do this I created a custom indicator using the Volume[] command, had it draw a histogram and compared to the one on the screen, they were identical. It also gives the number on the indicator, and increments each time there is a tick.

Here it is, someone will probably ask for it.

Interbank FX gets their price data from the interbank market;
The interbank market has a significant number of transactions occurring and all players are constantly aware of transaction prices in real time;
Each tick represents a trade on the interbank market;

Conclusions:

Forex volume data is NOT meaningless.
Forex volume data indicates actual interbank market activity and therefore also liquidity.
It does not tell the actual number of units traded.

I'd like to add also that small traders do nothing to move price.

Big traders are more likely to move price, and cause ticks.

I think this lends another level of credibility to tick volume.

(I still don't use it, though.)

the amount of volume or color of bars doesn't matter what does is this:

rising price rising volume- market is strong
rising prce falling volume - market is weakening
falling price falling volume - market is strengthening
falling price rising volume - market is weak

that's all you need to worry about on volume, nothing else. just look at the heights of bars and you'll see just that.

Blue ruby. thanks for your little research. discovering your post after more than 2 years and I just tot it was good to commend your efforts.
I hope this gets to you.
Thanks. Keep it up.