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  1. #1
    Rookie Member texastrooper's Avatar

    Volume Indicator !!!

    Can someone "school" me on use of the volume indicator on MT4? I am using it with a custom indicator but I am not sure how to read it.

  2. #2
    Rookie Member
    are you spot or binary trader?

  3. #3
    Legendry Member Michael Hodges's Avatar
    which volume indicator?

  4. #4
    Rookie Member texastrooper's Avatar
    I am trading binary options.
    It is just the plain volume indicator in MT4.
    My main question is why is the value sometimes showing down (red) when the price is going up on my chart. And visa versa. I just would like some help on how to read this.
    Thank you

  5. #5
    Legendry Member willyw's Avatar
    Quote Originally Posted by texastrooper View Post
    I am trading binary options.
    It is just the plain volume indicator in MT4.
    My main question is why is the value sometimes showing down (red) when the price is going up on my chart. And visa versa. I just would like some help on how to read this.
    Thank you
    It means there is a drop in volume. Price up but a drop in volume compare to the previous volume and vice versa.

  6. #6
    Veteran Member hchandra's Avatar
    Red mean fewer transaction volume compared to previous candle/price close,
    Usually volume spike happen when:
    1. Big news release such as Non farm payroll
    2. When moving past supply/demand level. (Usually extreme high/extreme low)

    In my opinion, depend on your needs and market traded, volume can be useful, but hardly for forex trading as the transaction volume just very high

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