I believe a StopLimit order has 2 components
- Stop price and
- Limit price
I want to know if the stop price has been reached or not.
If it has, what elements of the orders has changed. E.g.
- Can the StopLimit be modified and how? As this is not a limit order should I update the price? When accessing the order properties what change from before?
- Can the TP be changes?
- Can the SL be changed?
- Are there restriction on what and when changes or cancellation of the order can be done?
- Stop Level restrictions
- Freeze Level restrictions
Do you know this: https://www.metatrader5.com/en/mobile-trading/iphone/help/trade/general_concept/order_types?
A Buy-Stop-Limit-Order becomes a Buy-Limit-Order if the higher price is reached.
You can change any (pending) order as long it hasen't become a position.
Check the way you manage all that by OrderSend().
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Do you know this: https://www.metatrader5.com/en/mobile-trading/iphone/help/trade/general_concept/order_types?
A Buy-Stop-Limit-Order becomes a Buy-Limit-Order if the higher price is reached.
You can change any (pending) order as long it hasen't become a position.
Check the way you manage all that by OrderSend().
Many thanks for the reply.
If I am to understand correctly if I call something like the following after the Open Price has been reached:
OrderSelect(ticket); const ENUM_ORDER_TYPE WhatIsTheTypeNow = (ENUM_ORDER_TYPE)OrderGetInteger(ORDER_TYPE); double IsThisTheOriginalStopLimit = OrderGetDouble(ORDER_PRICE_OPEN); double IsItZeroNow = OrderGetDouble(ORDER_PRICE_STOPLIMIT);
On a StopLimit order once the initial Open Price has been reached, then:
- Order type above will change to ORDER_TYPE_*_LIMIT
- Open price will change to the original StopLimit price and
- Stop limit price will become zero?
What's the purpose of this topic ? Laziness ?
Just try it and you will get your answers. Eventually reading the documentation could also be useful.
What's the purpose of this topic ? Laziness ?
Just try it and you will get your answers. Eventually reading the documentation could also be useful.
Want to know how are the finer points on how each type of order is officially handled in MT/MQL especially StopLimits as documentation on them is very sparse.
When you try out something and figure it out this may rely on something undocumented. Also there is a risk of drawing wrong conclusion with what is observed by tinkering. If there is a bug in the system then the conclusion from tinkering would be wrong.
Anyway anything to do what Market Micro structure and now orders are handled in the system should be better documented.
A already mentioned a pending order becomes a market order if the 'pending price' is touched. That means if the prices are jumping due to news this can happen:
- price at 1000.
- pending buy (or the stop of a sell) at 1200.
- NEWS !!!
- Price jumps to 3000.
- The buy-trader sees now a buy position at 3000 (and a high risk that this exaggerated price starts falling) and the sell-trader was stopped out at 3000 suffering quite a heavy loss.
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I believe a StopLimit order has 2 components
I want to know if the stop price has been reached or not.
If it has, what elements of the orders has changed. E.g.