drinkyd:
For backtesting and setting the SL and TP values in OrderSend, does it matter significantly if I use Ask or Bid as part of the SL and TP calculation? I don't see any errors when I use either one. I know other posts said #1 is the correct way, but is that only for live trading?
For instance,
There won't be error, since your values are well beyond what is acceptable. Try Bid+15*Point instead...
-
OrderSend(Symbol(), OP_BUY, tradesize, Ask, 0, Bid-30, Bid+15, NULL, 0, Green) //1
As Seng pointed out. If the market is at 1.2345 your SL is negative. -
OrderSend(Symbol(), OP_BUY, tradesize, Ask, 0, Ask-30, Ask+15, NULL, 0, Green) //2
- Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid reaches it. Not the Ask. Your SL is shorter by the spread and your TP is longer. Don't you want the same/specified amount for either direction?
- Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask reaches it. To
trigger at a specific
Bid price, add the average spread.
MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25 - The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (Control-O) → charts → Show ask line.)
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Hi,
For backtesting and setting the SL and TP values in OrderSend, does it matter significantly if I use Ask or Bid as part of the SL and TP calculation? I don't see any errors when I use either one. I know other posts said #1 is the correct way, but is that only for live trading?
For instance,