mql4: How to Check If Current Symbol is Forex or Crypto

, yet friendly

How to Check If Current Symbol is Forex or Crypto Forex Using MQL4

Knowing what type of security is being traded is a crucial part of trading Forex. Forex traders need to be aware of the risks involved in trading different types of financial instruments, and they must ensure that they are using the right tools for the job. MQL4 is a programming language developed by MetaQuotes Software Corporation for creating automated trading programs and algorithms, and it includes a symbol() function that allows traders to easily check if the currently traded symbol is a Forex pair, a metal, a stock, or a future. In this article, we will explore how to use this function to accurately determine the type of security being traded in the market.

Using the Symbol() Function in MQL4

MQL4 has a built-in function called ‘symbol()’, which is designed to return the current chart symbol. This function is used to display the currently traded symbol in the Market Watch window of the MetaTrader 4 platform, and it can be used to determine if the security traded is a Forex pair, a metal, a stock, or a future. The function returns 0 if the currency pair is not available in the market, and it returns 1 if it is. It’s important to note that the function returns the same values for currency pairs, metals, stocks, and futures, so you must use additional tools to accurately determine the type of security that is being traded.

Using the Symbol Info() Function in MQL4

The symbol Info() function is a built-in MQL4 function that can be used to retrieve detailed information on the currently traded security. It returns a set of information about the current symbol, such as the contract size, the spread, the margin, the maximum leverage, and the type of security being traded. This function will return a ‘Security Type’ field that specifies whether the security being traded is a Forex pair, a metal, a stock, or a future. By combining this function with the symbol() function, traders can easily get a detailed view of the type of security they are trading in the market.

Conclusion

By understanding how to use the symbol() and symbol Info() functions in MQL4, traders can easily determine whether the security being traded is a Forex pair, a metal, a stock, or a future. Knowing the type of security being traded is essential in order to choose the right tools and strategies for trading. With these two functions, traders can easily check whether the currently traded symbol is a Forex pair or any other security.

MQL4: How to Check if Current Symbol Is Forex or Crypto Forex

Developing an indicator or an expert advisor for your MetaTrader 4 (MT4) platform often requires obtaining the current price of a financial instrument or symbol. In this article, we will explain how to use the MQL4 programming language to check whether the current symbol is a foreign exchange (forex) or crypto forex.

What is MQL4?

MQL4 is the programming language used for developing automated trading technologies (expert advisors), as well as indicators and scripts for the MetaTrader 4 (MT4) trading platform. MQL4 enables traders to create their own trading robots and indicators with a streamlined process of coding, debugging, testing, optimization, and deployment.

How to Check the Price of a Forex or Crypto Forex Symbol

MQL4 provides a number of useful functions that allow traders to find the symbol’s type (such as forex, crypto forex, stock, index, etc) and to check its associated current price. With the combination of these functions, traders can quickly identify whether the current symbol is a forex or crypto forex.

The following two functions are available to implement this task:

• SymbolInfoInteger() – This function is used to get the integer information about symbol.
• SymbolInfoDouble() – This function is used to get the double information about symbol.

The SymbolInfoInteger() function returns an integer value with the symbol’s type. If the returned value is 7, it means that the symbol is a forex pair. If the returned value is 23, it means that the symbol is a crypto forex.

Meanwhile, the SymbolInfoDouble() function can be used to obtain the double information about the current symbol. Specifically, it returns the bid price of the symbol. This value can be used to check if there is any difference between the bid price and the current market price.

To put it all together, traders can use the following code to check whether the current symbol is a forex or a crypto forex:

int symbolinfointeger = SymbolInfoInteger(Symbol(),SYMBOL_TYPE); 
double symbolinfodouble = SymbolInfoDouble(Symbol(),SYMBOL_BID); 
if(symbolinfointeger == 7) 
    { 
        Print("The symbol is a forex!"); 
    } 
else if(symbolinfointeger == 23) 
    { 
        Print("The symbol is a crypto forex!"); 
    } 

The above code will print out whether the current symbol is a forex or a crypto forex.

Conclusion

Checking whether a symbol is a forex or crypto forex is a useful task for MT4 developers. With the help of the MQL4 programming language, traders can quickly determine the type of symbol they are dealing with and avoid making trading decisions on the wrong asset.