How to insert EA input parameter 'Symbol Name MT4'
The input parameter 'Symbol Name MT4' it is used to:
- speed-up the setup of the EA's portfolio in MT4
- allows EAs to do contract rollovers, which otherwise would have to be done manually
(screenshot MT4 del parametro)
How to find the 'Symbol Name MT4' to insert in the EA
To find the 'Symbol Name MT4' to write, follow these steps.
Display all the Symbols available in MT4: go to 'Market Watch' => right-click above a Symbol => and click 'Show All'.
Let's make few examples of 'Symbol Name MT4' to insert among these MT4 Symbols of ActivTrades broker.
| ActivTrades Symbol | EA 'Symbol Name MT4' to write | Note |
|---|---|---|
| EURUSD | EURUSD | is the 'Euro USDollar' spot exchange rate |
| Usa500 | Usa500 | is the 'S&P 500' cash price |
| UsaTBDec23 | UsaTB_ | is the '30y TBond' contract expiring in Dec23 (ZB futures) |
| GasolNov23 | Gasol_ | is the Gasoline ctr expiring in Nov23 (RB futures) |
| GasolDec23 | Gasol_ | is the Gasoline ctr expiring in Dec23 (RB futures) |
| LCrude | LCrude | is the 'Crude Oil WTI' spot price. Note: to use the 'CFD with no-expiration', write 'LCrude' |
| LCrudeDec23 | LCrude_ | is the 'Crude Oil WTI' ctr expiring in Dec23 (CL futures). Note: to use the 'CFD with expiration', write 'LCrude_', followed by underscore |
If you trade 'Euro USDollar' you have 1 choice: the 'Symbol Name MT4'is 'EURUSD'.
If you trade 'Crude Oil WTI' you have 2 choices:
- 'LCrude' cash: a continuous contract. It has a cost (in few cases an income) when the position is kept open overnight.
- 'LCrude_' futures (LCrudeDec23, LCrudeJan24, etc.): a list of contracts with expiration dates, that the EA will manage by rolling the chart and eventually the trade. It has no-overnight costs.
The 'futures' contracts most of the times has lower costs if the EA keeps the position open overnight.
But sometimes the new 'futures' contract may be loaded in MT4 by the Broker with few historical data. And, if the EA has a long-period entry filter such as 'MA 100 > MA 200' it may not operate.
If in doubt, I choose 'LCrude'.
Overnight Rates of Continuous contracts
To check overnight rates that determine if trading Long or Short would pay or costs: go to MT4 'Market Watch' => right-click the Symbol => click 'Specification' => and read Swap Info
These 2 Swaps represent the ActivTrades financing rates in yeary percentage. The rates vary over time. Now going:
- Long costs -8.42% yearly => daily -0.0241%
- Short pays +2.42% => daily +0.0065%
So now if my EA goes short S&P holding overnight, the continuous contract would make it earn something more than the 'futures' contracts.
