Development of a trading robot for calculating market volumes in the MT5 trading platform

Question

I am planning to start development and I don't know which method of analysis to take as a basis. Perhaps you have some ideas?

In the Forex market:

Volume = the number of price changes over a period of time.

In the stock market:

Volume = trading volume * price.

For example, the volume for a particular stock is 1000 shares at $10. The Volume indicator would then be as follows:

Volume = 1000 * $10 = $10,000.

The difference in calculations is due to the fact that Forex market is decentralized as opposed to stock market.

And that's why I don't understand how to calculate volume on forex to be accurate.

Answer 1

There is no unambiguous way for the MT5 trading platform to allow you to develop a universal way of calculating market volumes. The forex market is decentralized.

Experiment! You can take your formula as a base.

I am planning to start development and I don't know which method of analysis to take as a basis. Perhaps you have some ideas?

In the Forex market:

Volume = the number of price changes over a period of time.

Answer 2

What about volume = 10 lots @ 1.2USD

So in case of eurusd 1 000 000 € exchanged for 1 200 000 $

Anyway simce the data coming from the metatrader is crippled and unreliable it doesnt matter how good your calculation is.

So just calculate the ticks per unit of time to have an idea of level of activity for a specific pair.

If you are starting developing I would not raccomend meetatrader since it has lost popularity for many bad and good reason..

The best option for easy start is Pinescript or Python(adv), these will bridge you on different market rising a lot your chances to make a profitable robot. The forex market is competely controlled by central banks and it is programmed such a way that the speculator has always the biggest risk with the lowest chance of making any gain