Mt4 Tick Volume (Myth Busted) | Forex Factory

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Mt4 Tick Volume (Myth Busted)

  • #1
  • First Post: Feb 25, 2009 11:19am Feb 25, 2009 11:19am
Candle Volume Is Nothing More Than Sum Of Ticks,
And The Ticks Carry Price Change...bid,ask,hl,close,
And Most Interesting, Sometimes Tick Dont Make A Change
Within Candle, So Volume Doesnt Mean A Thing,
It Is Just A sum Of Ticks!!!

test The Atached Script
Attached File(s)
File Type: mq4 CANDLE VOLUME (MYTH BUSTED).mq4   4 KB | 3,083 downloads
forexflash
  • #2
  • Feb 25, 2009 11:22am Feb 25, 2009 11:22am
What is your point here? The definition of tick volume is the sum of the ticks for a given time frame, so where is the myth in that? You are just stating what is already the definition.
  • #3
  • Feb 25, 2009 11:27am Feb 25, 2009 11:27am
Some brokers provide volume as the number of full lots traded in the time period, some provide the number of trades in the time period. So if in a minute, there was one trade of 100 lots, one data provider might report the volume as 100, the other 1. Some providers only report the volume moving through their platform, some brokers report what is moving through their own system and include one or more other brokers data too.
forexflash
  • #4
  • Feb 25, 2009 11:28am Feb 25, 2009 11:28am
Quoting FOREXflash
Some brokers provide volume as the number of full lots traded in the time period, some provide the number of trades in the time period. So if in a minute, there was one trade of 100 lots, one data provider might report the volume as 100, the other 1. Some providers only report the volume moving through their platform, some brokers report what is moving through their own system and include one or more other brokers data too.
Really, in Spot Forex? Who does that? I would like that feed, if they are of any good size. I would think a bank would keep that a guarded secret. Isn't that their order flow?
  • #5
  • Feb 25, 2009 11:33am Feb 25, 2009 11:33am
If you get a tick with no information(no changes in price),
what does that tick have with volume!????

This is beyond me, please explain?
forexflash
  • #6
  • Feb 25, 2009 11:36am Feb 25, 2009 11:36am
Quoting FOREXflash
If you get a tick with no information(no changes in price),
what does that tick have with volume!????

This is beyond me, please explain?
I am not disagreeing with you on the value of it, just that there is no myth in tick volume it is simply each tick and that is all there is in spot forex, unless you have access to the book at a bank

However, in your example above if you get a lot of ticks and no price movement there is big information there. It means a stalemate.
  • #7
  • Feb 25, 2009 1:36pm Feb 25, 2009 1:36pm
Quoting FOREXflash
Candle Volume Is Nothing More Than Sum Of Ticks,
And The Ticks Carry Price Change...bid,ask,hl,close,
And Most Interesting, Sometimes Tick Dont Make A Change
Within Candle, So Volume Doesnt Mean A Thing,
It Is Just A sum Of Ticks!!!

test The Atached Script
this is not a new thing, and most certainly not a breaking news or myth busted, you shouldn't look for volume analysis from your anonymous MT4 brokers anyway.
  • #8
  • Oct 1, 2013 12:00pm Oct 1, 2013 12:00pm
I am totally upset about this new

And this is not acceptable from brokers and Metaquotes

I just created a new blog (bcoz I am the adminstrator of beathespread)
http://beathespread.com/blog/view/22...s-unbelievable

but here, I want to thank the people who have said this unbelievable truth

VOLUMES are just a number of ticks per bar

It's crazy to jump to this assertion several years after starting on Forex.
I think all people should choose a new platform right now to fetch reliable datas, instead of this massive crap named MetaTrader 4
  • #9
  • Last Post: Oct 1, 2013 1:01pm Oct 1, 2013 1:01pm
Anybody who has read anything on forex knows that the forex market is a de-centralised market with no exchange and therefore no level 2 volume data. MT4 call their indicator a volume indicator instead of calling it a tick volume indicator but typing 'what is MT4 volume' in to a search engine brings up the result for somebody who knows the above wondering how it is that they have a volume indicator. Good luck to antbody trying to find a platform with 'reliable' data as every different broker's forex quotes are going to be slightly different for the first reason mentioned, (as well as having different open and close times used for Daily bars by different MT4 platforms from different brokers).
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