EURUSD 1.1771 USDJPY 112.18 USDCAD 1.2390 EURCZK 26.034 USDCZK 22.112 EURPLN 4.2872 USDPLN 3.6422
EURUSD 1.1771 USDJPY 112.18 USDCAD 1.2390 EURCZK 26.034 USDCZK 22.112 EURPLN 4.2872 USDPLN 3.6422

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Volume typically reflects the level of trader interest, in respect to the given price levels

Rule of thumb

Extremely high volume levels – similar to price formation spikes – may signal the possible trend reversal

Volume in its most typical understanding is the nominal size or number of the transactions that have taken place at a certain  time. 

 

volume, indicator, otc, markets, ticks, market turnover

 

This is normal for regular stock exchange markets. In the case of forex and other Over-The-Counter markets, the traditional volume data is not available, as markets are decentralised and there is no central organisation that collects data on the market turnover in real time.

 

Instead, in the case of the OTC markets, the volume used reflects the number of times  a price has been updated or changed during a certain period of time. While this solution is far from being perfect, it may give some idea of the market activity and trader interest.  

 

On the MetaTrader 5 platform this indicator is presented by two colour bars. Green bars indicate that the volume is greater than in the previous period, while the red ones indicate that the volume is lesser than in the previous bar.

 

The interpretation of the volume is based on the idea of analysis of divergences. The volume rising while  a market moves in the direction of the main trend, confirms such a movement. On the other hand, if volume fails to confirm the price action, its significance may be undermined.

 

How to use it with MetaTrader 5:

  • Select a chart for which you want the Volumes indicator to be presented.
  • Go to: Insert - Indicators - Volumes – Volumes.
  • Volumes indicator will be automatically displayed below the chart by MetaTrader 5

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