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The Essence of Volume in MetaTrader 5 When we discuss volume in the context of MetaTrader 5, particularly for the Forex market, it is important to clarify what we are observing. Unlike centralized stock exchanges where 'real volume' represents the actual number of contracts traded, the Forex market is decentralized. Therefore, the 'Volume' indicator in MT5, by default, displays what is known as tick volume. Tick volume is a reliable proxy. It quantifies the number of price changes, or 'ticks', that occur within a specific time interval. A higher number of ticks generally indicates increased trading activity and interest in...