Reference
AWS A5.1 SMAW Electrode Classification System:
E = Electrode
First 2-3 digits = Min tensile strength (ksi)
Second-to-last digit = Position (1=all, 2=flat/horiz, 4=flat/horiz/OH/vert-down)
Last digit = Coating type and current polarity
Example: E7018 = 70 ksi, all positions, low-H iron powder, AC/DCEP