hello, does the volume indicator in MT4 represent the real volume traded over each pairs?
The quick answer is a definite no. There is no aggregate forex volume figure since the market is decentralized.
I don’t use MT myself, so someone with more knowledge of that platform specifically should comment on what their volume figures represent. I think it’s probably tick volume.
I can’t say for sure but, since, as rhody said, there is no centralized market, I would think that the volume represented with that indicator would be the volume of trading only for that particular broker.
Terry
its best to learn how to live without volume indicators in forex.