Order Type question

[ScottB]

I am new to MetaTrader and I need to determine if one can enter a stop limit order. I need to buy on a buy stop but I have noticed some huge spikes in quotes that return to normal almost immediately. I don't want to get caught in one of those so I would like to buy on a stop limit.

Any help will be greatly appreciated.

[Sergey Golubev]

ScottB:
I am new to MetaTrader and I need to determine if one can enter a stop limit order. I need to buy on a buy stop but I have noticed some huge spikes in quotes that return to normal almost immediately. I don't want to get caught in one of those so I would like to buy on a stop limit. Any help will be greatly appreciated.

Trade with stop limit order. But it will be an other order.

[ScottB]

Order Type question

Thanks for the suggestion but I am missing something (of course that is nothing new). My understanding of limit orders (from the futures world) is that limit is that price or better while stop is that price or worse.

I am placing these orders via MetaTrader well ahead of the market so at the time I place the buy order, the market is lower (i.e. better) and it would fill immediately.

What I actually want is the buy limit price to be on the Ask and then it executes (buy stop), only I don't want to risk a spike so I don't want a market order but rather a limit order.

For example if the market EURUSD were 1.2685 bid 1.2688 ask, I want to buy if the market moves up to 1.2896 (the required N pips away from the market so I can use a limit order) but I don't want a fill above that number hence the limit. In futures you have stop limit orders which work exactly like I want.

Thanks again for any further help.

Scott

[[Deleted]]

ScottB:

I am new to MetaTrader and I need to determine if one can enter a stop limit order. I need to buy on a buy stop but I have noticed some huge spikes in quotes that return to normal almost immediately. I don't want to get caught in one of those so I would like to buy on a stop limit.

Any help will be greatly appreciated.

I think I understand your question.

Stop Limit Order type is available on MT5 (https://www.metatrader5.com/en/mobile-trading/iphone/help/trade/general_concept/order_types) but not on MT4.

I am looking for a script or an EA that executes Stop Limit Order on MT4. I’d be most grateful if you cld let me know if you found or know of such a script or EA.

 

Thank you.

[Sergey Golubev]

LimHenry:

...

This question was asked in 2006.
Why did you wait for 13 years to reply to him?

[[Deleted]]

Sergey Golubev:

This question was asked in 2006.
Why did you wait for 13 years to reply to him?

You are right. The question was asked in 2006. I wasn’t trading fx then

I’d like to place Stop Limit orders on MT4. I therefore asked, with the hope that he found what he wanted in which case I cld get some light from him.