Twisting and turning, iMA's trying to cheat - page 10

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imtochukwu:

Vladimir, thank you, you have been very helpful. Now the question remains how to make the Take Profit and Stop Loss orders which the EA places. How to make them limit?

The parameters of an EA generated by MQL5 Wizard are described here:MQL5 Wizard MA RSI
 
Vladimir Karputov:

The parameters of an EA generated by MQL5 Wizard are described here:MQL5 Wizard MA RSI

Vladimir, it says here "price level" but how does this relate to the order type?
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imtochukwu:

Vladimir, it says here "price level" but how does this relate to the order type?


Change this parameter:

Price level to execute a deal0.0Indent from the current price. At 0 we open at the current price, at -x pending Stop orders will be placed, at +xx pending Limit orders will be placed.
 
Vladimir Karputov:


Change this parameter:

Price level to execute a deal0.0Indent from the current price. At 0 we open at the current price, at -x pending Stop orders will be placed, at +xx pending Limit orders will be placed.


Vladimir, does this parameter also open take profit and stop loss orders?
 
imtochukwu:

Vladimir, does this parameter also open take profit and stop loss orders?

No.

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I am Wondering, I am Trying to Fool iMA

Vladimir Karputov, 2017.03.03 15:54


Change this parameter:

Price level to execute a deal0.0Step back from the current price. At 0 we open at the current price, at -хх pending Stop orders will be placed, at +хх pending Limit orders will be placed.

This parameter controls how the trading operation will be carried out: by opening at the current price or by using pending Stop or Limit orders.

Stop Loss level (in points)50.0Price level for Stop Loss
Take Profit level (in points)50.0Price level for Take Profit
These two parameters are used to set the price levels for Stop Loss and Take Profit. If we specify "0", this means that theStop Loss and/or Take Profit levels of the open positions will be equal to 0.0, i.e. if theStop Loss and/or Take Profit parameter is "0", the position will never be closed by theStop Loss and/or Take Profit.
 
Vladimir Karputov:

No.

This parameter controls how the trade will be executed: by opening at current prices or by using pending Stop or Limit orders.

Stop Loss level (in points)50.0Price level for Stop Loss
Take Profit level (in points)50.0Price level for Take Profit
These two parameters are used to set Stop Loss and Take Profit price levels. If you specify "0" then theStop Loss and/or Take Profit levels of the open positions will be equal to 0.0 - i.e. if theStop Loss and/or Take Profit values are "0", the position will never be closed byStop Loss and/or Take Profit.

Vladimir, I have understood it that way. Is there any possibility to set take profit and stop loss as pending?
 
imtochukwu:

Vladimir, so I understand. Is there any way to set take profit and stop loss pending?

?
 
Vladimir Karputov:

?

Meaning. Is it possible to change the order type from the usual market"take profit" orders to the limited "take profit" ones? That is, the orders which the Expert Advisor sets itself while working
 
imtochukwu:

Meaning. Is it possible to change the type of orders from normal market"take profit" orders to limited "take profit" orders? That is, those orders which are placed by the Expert Advisor itself during its operation.

This type of execution is by its very nature a market order. You cannot change this and there is no such thing as a limit order.
 
I thought TP was a limit order, while Stop Loss is a stop order. At least the TP is either at the stated price or better, but not worse!
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