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Yellowbeard
2008.05.15 05:09
How much volume does it take to move price one pip? On a M1 chart, volume is 1, 2, 3 ...... etc. Is actual volume found by multiplying by 1000? How or where does one find actual volume?
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Modelling Requotes in Tester and Expert Advisor Stability Analysis Requote is a scourge for many Expert Advisors, especially for those that have rather sensitive conditions of entering/exiting a trade. In the article, a way to check up the EA for the requotes stability is offered. |
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BarrowBoy
2008.05.15 18:45
Volume on MT4 is the number of ticks for that bar (i.e. that time-period). It tells us nothing about the turnover in millions of dollars... In very general terms, the 'hardest fought' bars (i.e. having a relatively high number of ticks) mark bottoms or tops. So... we have to make estimates on market levels by looking at Volume or IMHO the good old Bollinger Bands to indicate increasing or decreasing action. BTW - I find StdDev is easier to program if you just want an 'is there likely to be follow through' indicator FWIW -BB- |
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phy
2008.05.15 23:47
Yellowbeard wrote:
How much volume does it take to move price one pip? On a M1 chart, volume is 1, 2, 3 ...... etc. Is actual volume found by multiplying by 1000?
How or where does one find actual volume?
. It takes 0 volume to move price 1 pip. It takes a change in the price at which the Dealer is willing to deal to move price. . On all MT4 charts, volume is the count of ticks in a bar, nothing more. You can test it with this little indicator: #property indicator_chart_window static int counter; static int oldTime; int init() { counter = Volume[0]; return(0); } int deinit() { return(0); } int start(){ if( Time[0] != oldTime) counter = 0; counter++; Comment("\n Count of ticks for this bar = ", counter, "\n Volume for this bar = ", Volume[0]); oldTime = Time[0]; return(0); }As for finding actual volume, it is not to be found, anywhere. |
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BarrowBoy
2008.05.16 18:45
As Phy says, theres no central exchange for Forex. Its the main disadvantage of Forex over stocks & shares, where trading volume is known as it all goes through one exchange for each equity, eg London Stock Exchange for British Telecom shares etc. If you were an institutional subscriber of somewhere like http://www.currenex.com you'd have a better idea of trading conditions but there are a couple of levels above that where its all much clearer :( Down at our end of the Forex food chain, we just have to look at the Bolli bands... > It takes 0 volume to move price 1 pip. It takes a change in the price at which the Dealer is willing to deal to move price Indeed - hence the gaps between a candle close & the next candle opening seen on live data feeds. The dealing banks have to move the price to get any takers. These gaps are much less frequent on demo servers - all part of the 'ragginess' that upsets so many EA's when they go on to live servers -BB- |