Stop Limit orders

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Is there a way to construct a stop limit order. I want to buy on a stop using a pending order but limit the price I will pay in case of a spike. I thought of using slippage but since with a OP_BUY I am issuing a market order I will pay whatever the Ask price is with no limit (or so it seems).

Any help will be greatly appreciated.
 
Believe you could write it so when target price is hit (like a stop) you could open a pending limit order. So, if you set the 'stop' at 1.8000 and when that is hit, you place a limit buy at 1.8010, then you should get a fill at the market price. If the market spikes past to 1.8020, and you miss the fill, and you'll have a normal limit buy below the market.

I still think that the slippage does this for you. The stop does open as a market order, but a slippage value puts a sort of limit on things so it won't trade further away from your order and you'll just miss your fill.
 
ququr wrote:
Believe you could write it so when target price is hit (like a stop) you could open a pending limit order. So, if you set the 'stop' at 1.8000 and when that is hit, you place a limit buy at 1.8010, then you should get a fill at the market price. If the market spikes past to 1.8020, and you miss the fill, and you'll have a normal limit buy below the market.

I still think that the slippage does this for you. The stop does open as a market order, but a slippage value puts a sort of limit on things so it won't trade further away from your order and you'll just miss your fill.


Thanks for the idea, I am trying to test the various options but I am new to MQL4 and it is taking some time.  What you describe is termed Market if Touched in the futures world but depends on being able to place a limit order that close to the market (which is what causes the problem in the first place).  I am a very experienced programmer and have the syntax down pretty well (it is basicly C as far as I can tell) but I am still learning the functions and their nuances.
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