Hello master pipers,
May I request you assistance on one matter of significance?
How reliable is Volume as measured in forex? (is it as reliable as in stocks, for example)
Second question is, whether volume can be used at all, to reliably confirm price patterns and the like, as is described in Murphy’s famous book of technical analysis?
Thank you for your time 
Not very reliable at all… Forex trading doesn’t have a central hub like stock exchanges do, so it’s pretty much impossible for retail traders to get an accurate real time trading volume… You can get one for your broker, but that’s only your brokers volume and not that of the entire market.
You can kind of use the futures volumes, which can be retrieved from the Chicago Mercantile Exchange, for a rough idea of volume, but these are only updated weekly so would only
Be useful for very high time frame trading.
VSA is a trading technique which uses volume that some traders like to try and apply to the forex market. If you ask them if it works they will swear to it… I tend to believe that it works because of the price action component and the volume is irrelevant… But that’s just me.
Bad news, bad news everywhere, but thanks for the information
Tick Volume can be used for trading, but as a trading methodology it is based on Stocks, and Forex certainly isn’t stocks and it’s very different. VSA was developed from sound stock market theory and is based on daily timeframe trading, it becomes much less effective as a stand alone trading method when day trading.
I use elements of VSA in my trading, but only to confirm my analysis as opposed to it being the analysis itself, market timing is more important than Volume analysis.
http://www.purplepatchforex.co.uk/site/files/FxTraderVolumeArticle.pdf