What does the Volume in MT4 mean?

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Hi all,

Newbie in forex. What does the volume indicator in MT4 mean? I saw something like 4, 20, 100 etc. Does it mean a full 100,000 units contract?

For instance, 4 volume EUR/USD means 400,000 units of EUR?

Thanks in advance.

Hydrom

 
It means 4 lots, where 1 lot = 100.000$.
 

I see. Thanks forexcoder.

That volume is only for that particular broker only? Because when i try to compare metatrader from two different brokers, both show different volume at the same period.

 

Wrong!

It means the price changed that many times for that particular broker. The size of contracts traded is irrelevant.
 
Volume in the chart means number of price changes, true, however I understood that the op was asking about trading volume when entering orders. (I've never seen only 4 price changes on any M1 which is what let me to believe the question was about contract volumes). Anyway, resolved :P
 
  1. He asked about Volume INDICATOR, not anything about orderSend(lot size) or marketInfo(LOTSIZE).
  2. He never mentioned the timeframe
  3. On my EURUSD M1, my volume AVERAGES over 100 (IBFX)
 
Yep, same.
 

I am getting less, MA(1000)->86, and i am heaving drops to 4 and less ticks/minute. Not to mention that the bars with 0 volume are hidden.

 

Thanks WHRoeder and forexcoder.

I have attached a picture of my question. That volume 8 that I am getting, what does that mean?

I am more used to futures, where if you have a larger volume in an inactive market, you may get "slippage" in your order. I am wondering does that happen in Forex. Say, if I use a one-click order (market order) to buy 1,000,000 units of EUR/USD at 1.4300, would I occasionally get something like 500,000 units get done at 1.4300 and another 500,000 units at 1.4301.

Thanks again for your kind assistance. :)

 

...would I get something like 500,000 get done at 1.4300 and another 500,000 units at 1.4301....

From what I hear, partial fulls depends on the broker. Usually however you'll get all or nothing filled at 1.4300 or 1.4301 because of the slippage.

 

Volume of 8 on a M1 chart means that the price has changes 8 times. 'No more no less.

Partial fills as described in your post i know only happen with one broker, and afaik only with pending orders, if you send market orders you will get all or nothing, as ubzen said.

By increasing the maximal allowed slippage you will increase the chance of a fill, but you might get a worse price.

//Z

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