Trading Heroes

Forex Trading Education

Thank you for purchasing the custom TH Filtered Swap EA for MetaTrader 4, by Trading Heroes.

This manual will show you how to use every feature of this Expert Advisor (EA).

How to Install this EA

Get instructions on how to install this EA here.

This EA will start working as soon as you add it to the charts. You don't have to turn on AutoTrading or allow Live Trading. Since this EA only provides information and does not take trades, you don't have to enable any of those settings.

Benefits of this EA

  • Easily see which Forex pairs might be good for hedging and which to avoid
  • See the difference in swap between a long and short position in each currency pair in your Market Watch window
  • Filter the list so you only see the currency pairs that have a minimum difference
  • This can help you understand which currency pairs to trade based on a lower negative net swap
  • The text moves down when the buy/sell buttons are expanded

Settings Explained

MT4 Filtered Swaps EA for MT4

This is a very easy EA to use. Simply set the MaxNeg value to the maximum negative net swap you want to see on the list.

To change the setting, double click on the Value.

The net swap is the difference between the long swap and the short swap. This EA simply adds them together and makes it easy to see.

A negative swap means that you pay daily interest on positions you hold, positive swap means that you get paid interest for every day that you hold the position.

If you don't have this EA yet, you can buy it here…

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Pro Tips

Here are some tips to help you get the most out of this EA.

  • Setup this EA on a separate chart that you won't be trading on. This will keep your trading charts clean and free of clutter.
  • Remove period separators and grid lines on the chart with this EA.
  • Set the candles to the same color as the background. This will prevent the chart from interfering with the EA text when chart is in the upper left corner of the chart.
  • Set the Foreground to a high contrast color. This will make the text easy to read. For example, if the background of the chart is black, set the Foreground to white, like in the screenshots below.

Examples

Filtered swap on MetaTrader screen

Example of EA filtered for a maximum negative net swap of -8.00.

Filtered swaps with buttons shown

Text shifts down when one click buy/sell buttons are shown.

If you don't have this indicator yet, you can buy it here…

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Frequently Asked Questions

…and the answers.

Can I change the text size/position/color?
No, I understand why you might want to do that. But the reality is that the list can get pretty long, so I decided to keep the default font size to fit the maximum number of markets visible. Otherwise you might miss something…and that would defeat the whole purpose of having this EA, right?.
Can I install this on the MT4 mobile app?
No, custom plugins like EAs and indicators can only be used on MetaTrader 4 desktop.
Will I be a billionaire overnight if I use this EA?
Only if you already had a billion dollars. But seriously, this EA is simply a tool that shows you how to avoid holding highly negative interest trades. Selecting the right markets and implementing a trading strategy is up to you. EAs are not magic money generators, like some people think. They just assistants. Making consistent profits is 100% your responsibility. By using this EA you also agree that losses are also 100% your responsibility. 
Where can I get help with troubleshooting?
Click here.
Can you customize this EA for me?
Nope. Quite frankly, I'm lazy and I don't want to deal with the headaches that come with customization. Also, this EA is affordable because I only sell one version. I've designed these plugins with the intent to be the most useful to the largest number of people. So they should provide the assistance you're looking for. If it doesn't, then get a quote from a programmer and see if building a similar version is worth the price difference. It might be. But probably not.