Forex Volume. Volume is used as a technical indicator to get a better picture of the activity of a market, and the strength of trends. The most effective strategy for using a forex volume indicator is to use it in conjunction with key trading levels and price action.
Given the decentralized nature of forex, it isn't easy to calculate the entire market's volume.. You can use the VWAP indicator, volume indicator, OBV, money flow index, etc. The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies.
The price needs to remain above the previous swing low.
Volume figures are reported across divisions and asset classes to give you an instant grasp of market activity.
However, trading volume is also important in Forex, or in trading any other asset. To calculate forex volume you need to use brokers' data such as tick movements. And it is not surprising since the economies of the US and the Eu
ropean Union are the largest ones.