quantumninja:
Is the below usage of Bid and Ask correct ?
let x and y be some double value
for Buy trade
price Ask
stoploss Ask-x
takeprofit Bid+y
for Sell trade
price Bid
stoploss Bid+x
takeprofit Bid-y
technically correct, as long as the price (stoploss or Takeprofit value) not within StopLevel limit.
but, for better calculation of pip distance in point;
Buy:
Stoploss = Bid-x
TakeProfit = Bid+y
Sell:
Stoploss = Ask+x
TakeProfit = Ask-y
but, it all depends on you as a coder.
quantumninja: Is the below usage of Bid and Ask correct ?
You buy at the Ask and sell at the Bid.
for Buy trade
price Ask
stoploss Ask-x
takeprofit Bid+y
for Sell trade
price Bid
stoploss Bid+x
takeprofit Bid-y
- Your buy order's TP/SL are triggered when the Bid reaches it. Not the Ask.
-
Your sell order's TP/SL will be triggered when the Ask reaches it. To trigger at
a specific Bid price, add the average spread.
MODE_SPREAD (Paul) - MQL4 and MetaTrader 4 - MQL4 programming forum - Page 3 - 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.)
Thank you all so much, these are very informative answers
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Hi All,
sorry for basic question,
i am currently using MQL5, the CTrade Class to open trades
The below parameters for Buy
CTrade::Buy(const double volume,const string symbol=NULL,double price=0.0,const double sl=0.0,const double tp=0.0,const string comment="")
The below parameters for Sell
bool CTrade::Sell(const double volume,const string symbol=NULL,double price=0.0,const double sl=0.0,const double tp=0.0,const string comment="")
Is the below usage of Bid and Ask correct ?
let x and y be some double value
for Buy trade
price Ask
stoploss Ask-x
takeprofit Bid+y
for Sell trade
price Bid
stoploss Bid+x
takeprofit Bid-y