I’ve been searching far and wide for a sentiment or real volume indicator to put in EA but to no avail.
So, I want to attempt to make my own using tick movement but i dont kno how, like I’ve used the ticks per sec in formula block but i dont think thats enough to show real volume?
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people trading from tick-charts are almost always (knowingly or often unknowingly) using them as a substitute for volume, it’s true, but for spot forex it isn’t relevant anyway - there isn’t a formula for volume because there isn’t any “volume” as such
volume and ticks don’t really exist in any meaningful/helpful sense for trading spot forex/CFDs because they’re a decentralized market, so by definition there’s no possible way (for anyone, including your “broker”) to know the volumes transacted
when you “trade” against a spot forex “broker” no currencies are actually changing hands
any so-called “volume” figures and anything else based on so-called “volume”, that a spot forex/CFD “broker” can give you can be based only on their own “volume,” which is about as much use as an ashtray on a motorbike
volumes are recorded in a real, transparent market for forex futures, and many people do find those useful for trading spot forex: you can access that (at a very low monthly subscription-cost), if you want to, through a CME non-professional data-feed: you just have to self-certify that you’re not a professional trader trading others’ funds - further details are on the CME website
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Wow…thats the wisest reply i’ve ever got, thnkx!
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You are a very learned person. I don’t think one in a thousand has thought this through and realises its significance.
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