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Reliable Volume data feed for Metatrader

  • #1
  • First Post: Jun 23, 2018 1:23pm Jun 23, 2018 1:23pm
Hello,

I need an expert advice in here. I checked many ECN brokers recently and there are a lot of discrepancies regarding volume data feed.
any advice about the best broker for volume data? I found a couple but they are not using Metatrader Platform.
  • #2
  • Jun 25, 2018 2:57am Jun 25, 2018 2:57am
In your comparison I would add Pricemarkets
  • #3
  • Jun 25, 2018 12:31pm Jun 25, 2018 12:31pm
Quoting duxis
In your comparison I would add Pricemarkets
I checked their website. It looks interesting..Thanks
  • #4
  • Jun 25, 2018 3:25pm Jun 25, 2018 3:25pm
I am not into conspiracy theory, but I always see data provided to other platforms are more reliable than Metatrader Brokers data feed...AS if Metatrader users intended to be screwed.....
Any thoughts? like Mt4 bridge to Currenex , Bloomberg, or others?
  • #5
  • Edited 10:54pm Jun 25, 2018 8:39pm | Edited 10:54pm
Quoting Ray9
I am not into conspiracy theory, but I always see data provided to other platforms are more reliable than Metatrader Brokers data feed...AS if Metatrader users intended to be screwed..... Any thoughts? like Mt4 bridge to Currenex , Bloomberg, or others?
what "volume" are u measuring? mt4's "volume" is nothing more than a tick counter. mt4 is meant to filter out and only show top bid/ask from lps. change in top bid/ask = 1 count of "volume" thats all.

if u want volume, u will have to go to the futs market.

why there is much discrepancy is very simple. because spot is off exchange. it comes back down to broker's connections to number of liquidity provides.;
broker A has relationships to 10 LP's whilst broker B has relationships to 20 LP's. broker B's mt4 tick/volume counter will be higher than broker A's. (more LP = more top price quotes = more top price changes).

currenex/fxall is different because they do not filter top bid/ask for you. if u are familiar with fxall. u will see that the lp's streams are quoted separately. because of that, the volume shown is volume from that sole bank/within its specific circle and enviroment
  • #6
  • Jun 26, 2018 3:28pm Jun 26, 2018 3:28pm
Quoting Bicarus
{quote} what "volume" are u measuring? mt4's "volume" is nothing more than a tick counter. mt4 is meant to filter out and only show top bid/ask from lps. change in top bid/ask = 1 count of "volume" thats all. if u want volume, u will have to go to the futs market. why there is much discrepancy is very simple. because spot is off exchange. it comes back down to broker's connections to number of liquidity provides.; broker A has relationships to 10 LP's whilst broker B has relationships to 20 LP's. broker B's mt4 tick/volume counter will be higher...
Thank you, I am checking Fxall...

My trading is really more profitable, when I check volume of big bank brokers...however big retail brokers data are rubbish..
I know it is still tick data not true volume..but for some reason it backs my strategy...
  • #7
  • Jun 26, 2018 4:00pm Jun 26, 2018 4:00pm
We are living in the age of dark pools, forget about any volume data, they are totally flawed.
No matter which market.
  • #8
  • Jun 27, 2018 10:31am Jun 27, 2018 10:31am
Quoting The-Flipper
We are living in the age of dark pools, forget about any volume data, they are totally flawed. No matter which market.
I agree with you. Yet, there is a still way We can benefit from bait data that they show.
I made some modifications to better volume indicator...that increased my success rate...besides this guy on this thread, made me more interested in Acc/distribution volume indicator he made.

https://www.forexfactory.com/showthr...768090&page=57
  • #9
  • Jun 27, 2018 10:40am Jun 27, 2018 10:40am
Quoting Bicarus
{quote} why there is much discrepancy is very simple. because spot is off exchange. it comes back down to broker's connections to number of liquidity provides.; broker A has relationships to 10 LP's whilst broker B has relationships to 20 LP's. broker B's mt4 tick/volume counter will be higher than broker A's. (more LP = more top price quotes = more top price
I have 2 different accounts with same Austrailian broker, and I get 2 different volume data...
  • #10
  • Jun 27, 2018 3:42pm Jun 27, 2018 3:42pm
Quoting Ray9
{quote} I agree with you. Yet, there is a still way We can benefit from bait data that they show. I made some modifications to better volume indicator...that increased my success rate...besides this guy on this thread, made me more interested in Acc/distribution volume indicator he made. https://www.forexfactory.com/showthr...768090&page=57
Sorry, your post makes no sense.
And that guy is a clown.
  • #11
  • Jun 27, 2018 9:03pm Jun 27, 2018 9:03pm
Quoting Ray9
{quote} I have 2 different accounts with same Austrailian broker, and I get 2 different volume data...
even more so proving my point. why are you heading down the rabbit hole when u yourself have already seen your journey leading to a dead end. as i said if u want to trade via volume, go to the futs exchange market.
  • #12
  • Jun 30, 2018 5:43pm Jun 30, 2018 5:43pm
Quoting The-Flipper
We are living in the age of dark pools, forget about any volume data, they are totally flawed. No matter which market.
Well, What is your recommendation?
  • #13
  • Jul 1, 2018 2:10am Jul 1, 2018 2:10am
Quoting Ray9
{quote} Well, What is your recommendation?
Abandon all volume information and focus on things that are really important.

Do the hard work and watch the market 24/5 (or as much as possible), from a neutral angle, to get behind the bias and the phases of strong momentum.
  • #14
  • Jul 1, 2018 2:21pm Jul 1, 2018 2:21pm
Quoting The-Flipper
{quote} Abandon all volume information and focus on things that are really important. Do the hard work and watch the market 24/5 (or as much as possible), from a neutral angle, to get behind the bias and the phases of strong momentum.
I am sorry but your post did not add anything new..
  • #15
  • Last Post: Jan 8, 2020 1:45pm Jan 8, 2020 1:45pm
Many traders don't know or understand what volume really mean since it's different by trading platforms and the type of assets.

Here is the meaning of volume by type of assets for most platforms:
Forex - number of trades. So trading 0.01 lot has the same weight as trading 50 lots.
Stocks - number of shares.
Oil, gold, silver - number of contracts.
Crypto currencies - number of coins.

Unfortunately for the users of MT4 and MT5 volume is defined by the number of trades since these are, by design, forex trading platforms even if you can trade the type of assets shown above.
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