I am not sure if I understand stop loss and how brokers' server deal with trade correctly, hope anyone can confirm it or point out my mistakes. There is also an issue about MT4 / MT5 operation.To make things understandable, I make two scenarios following, each one with their comments. (I might make some mistakes, if so, please correct me.)*In each scenario, assuming the volume of every order is 1 lot.--< Scenario 1 begins>12:00 Market prices for symbol X are 100/99 (Ask/Bid). Trader A places an Ask order on X (successfully executed @100), and then set up a SL @ 98. At the same time Trader B places an sell-stop order with entry price @ 98. Trader B's order enters into the liquidity pool (also becomes part of the market depth), but Trader A's potential deal close (SL@98) hasn't been triggered, so it is not in the liquidity pool.12:10 Symbol X faces a significant drop, and massively drops to 91/90. During the dropping, Trader A's order on symbol X with SL@98 was triggered, and its close order was sent out to the broker server. However, there might be many orders already waiting ahead of it (first come first served). So it is possible that Trader A's order on symbol X close at 97, 95 or even lower. (Depends on the available liquidity) The result is Trader A might face a big slippage.
However, Trade B's order on symbol (sell-stop@98) was already in the pool, so it was waiting for executing before the dropping. No matter what caused the significant drop for symbol X, Trader B's order needs to be executed before the market can keep dropping. Therefore, Trader B will get his order done at the set price, and face no slippage.CommentsThe better way to set up a SL is NOT to set up a SL directly, but by setting up another order. (Imagine Trader A and Trader B are the same person.)--
< Scenario 2 begins>12:00 Market prices for symbol X are 100/99 (Ask/Bid). Trader A places an Ask order on X (successfully executed @100), and then set up another sell stop order @ price of 98. At the same time, Trader B does the same thing. The only difference is Trader A is using MT4 while Trader B is using MT5.12:10 Symbol X faces a significant drop, and massively drops to 91/90. Because both Trader A&B 's sell stop order are already waiting in the liquidity before the dropping happens, so their orders are executed at the set up price even market faces a big jump (or the market cannot keep dropping)
However, Trader A now has two positions while Trader B has no position at all. Comments:In trader A's case, he successfully uses placing sell-stop (rather than SL) to avoid slippage, but he got two left positions. If trader A didnt manage to close them on the same day, he will be charged by swap. Also, by closing two positions, trader A needs to pay commissions.In terms of commission trader A paid twice on opening and twice on closing (four times in total).On the other hand, trader B has no left position (MT5 will automatically accumulate the positions.), so he doesnt need to worry about the swap.Also, in terms of commission, he just paid twice (one in one out.)--If someone can comment on my thoughts, that would be helpful.Wjack
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The robot does not trade at night from 10 p.m. to 4 a.m. (server time).
The robot was tested in the special tester on real ticks. Empirical e
This product is similar to Tick volume analizer Expert Advisor, however it is implemented as an indicator. Release of this product is stipulated by the fact, that it is not possible to run two EAs in the same window.
Tick volume is equal to amount of ticks at the unit of time. There is direct correlation between tick volume and real amount of deals. Every change of the price is a result of a real request to perform a deal. Consequently, fewer requests we have, the less price changes we get, an
This is an utility for automatic scaling of a chart and making at least 140 bars visible in it. This is necessary for a correct wave analysis according to the Bill Williams' strategy "Trading Chaos". The utility can be used on any timeframe available in МetaТrader 5.
It draws a vertical line through the first bar the calculation starts from. This line allows you to see the probable starting point of the wave sequence along with a sufficient number of bars displayed in the chart. It also makes t
Percent Crosshair is a powerful and easy percentage measure tool.
Measure the chart percentage very quick! Don't waste your time anymore!
Just attach the Percent Crosshair indicator in the chart, select crosshair mode at toolbars or press "Ctrl+F" and start using the crosshair as you always do! The percent measure will be next to the indicative price.
Customize your indicator the way you want!
There are 4 entry parameters:
Positive % color: set the desired color when % is positive. Negat
IShift Lite is a lite version of IShift, and it doesn't include the tick chart.
IShift Lite allows:
perform trade operations directly from the depth of market with a "single touch"; automatically place Stop Loss and Take Profit; move position to breakeven; move Stop Loss along the price; automatically calculate the volume of an order depending on a fixed risk level or a fixed margin level.The program includes a visual help system.
Note: the demonstration version downloaded via the "Demo
Trading Chaos Expert Lite is a light version of Trading Chaos Expert. In the Lite version it is not possible to receive the table of trading signals, automatically place pending orders based on them and maintain open positions for multiple symbols at the same time in one window. Only the Current Chart mode is available. In all other features the panel is fully consistent with the basic version of the Expert Advisor.
This is, rather, a well thought out trader's assistant which is not easy to do
We present you an effective software solution for arbitrage between brokers.
The Arbitrage on the market became widespread due to decentralization. There are many liquidity providers, whose quotes differ for various reasons. By tracking the dynamics of changes in the quotes of different brokers, it is possible to determine the delayed and leading brokers, thereby predicting the future prices of the delayed broker for a short time. Knowing these prices and using efficient built-in software filte
VirtualTradePad - is a contol panel for working with orders in МetaТrader 5 : buy, sell, buystop, buylimit, sellstop, selllimit, close, delete, modify, tralling stop.
VirtualTradePad won 2nd prize in the "Best Control Panel in the MQL5 Language" Contest.
The panel consists of 5 tabs.
VirtualTradePad PositionsStyle VirtualTradePad Ordersstyle VirtualTradePad SignalsStyleDemo version of the panel - VirtualTradePad LiteProfit or Loss PadINFO PadYou can also try this panel for
The PZ Day Trading indicator detects reversals in a zig-zag fashion, without repainting or backpainting. Based on breakouts of variable lengths, the indicator uses only price action to pick trades and reacts to the market very fast. The positional accuracy of its signals offers huge opportunity for profits, easily up to 80% winners.
Amazingly easy to tradeChart statistics will help you to optimize your tradingIt works on every single timeframe without fine tuningThe indicator analyzes its own q
The main purpose of the indicator is to determine and mark trade signals on the histogram of the Accelerator Oscillator, which were described by Bill Williams in his book "New Trading Dimensions". The list of signals:
The buy signal when the indicator histogram is below the zero line. The sell signal when the indicator histogram is below the zero line.The sell signal when the indicator histogram is above the zero line. The buy signal when the indicator histogram is above the zero line. The
The economic calendar is made in the form of an Expert Advisor that downloads the data from one of the most popular Forex sites (forexfactory.com/calendar.php). The data is presented in two ways. The first (primary) is represented as icons with detailed information about the event. The second is displayed as a line with a news description. Economic Calendar downloads published news in real mode with the possibility to adjust the spacing of data validation and user-friendly customizable graphical
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
Fast Copy MT5 allows to copy trades between different MetaTrader 5 (netting)(hedge) and MetaTrader 4 accounts in any direction and amount, quickly and easily (without loading the system).
Any type of copying is available
MT5 —> MT5 MT5 —> MT4 MT4 —> MT5 MT4 —> MT4
* For any interaction with the MT4, it is necessary to additionally install Fast Copy MT4
One tool for sending and receiving transactions: [master] > [slave] operation mode can be selected in
The Expert Advisor uses the strategy of trading the Fibonacci levels. As the basis for placing a grid, the EA uses the ZigZag indicator (included in the standard MetaTrader delivery).
First, the EA determines the trend direction. To do that, according to the Dow theory, it uses the last two Highs and last two Lows of the ZigZag.
If the last High is higher than the previous and the last Low is higher than the previous, the EA considers the trend to be ascending. If the last High is lower
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
The script creates account summary report in a separate window.
The report can be created for all deals and on deals for selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The script creates account summary report in a separate window.
The report can be created for all deals and for deals of the selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The Spread 2 Pair indicator visualizes moments of two instruments' convergence (collapse) start. Signals are not delayed so you can timely enter and exit the market.
This indicator is developed for pairs trading and creation of your own trading system based on difference in movements of trading instruments.
Unlike most of multi-currency indicators, the Spread Pair indicator does not load CPU, calculations are immediately performed, it is non-redrawable.
Settings of every currency pair provi
This is a panel for controlling the profit/loss in dollars, pips or % of balance. A new function for trailing profits has been implemented.
The panel can be used as a virtual Stop Loss or Take Profit.
It also features the emergency button - CLOSE ALL.
You can also try the full version of the VirtualTradePad for mt5 panel, as well as the Profit or Loss for mt4 panel
Other versions in this collection:
VirtualTradePad for mt5 Digit Market Time Pad Market Time Pad Scalper PadMain f
This is a multi-timeframe Ichimoku Kinko Hyo signal analyzer indicator. As you know, Ichimoku consists of 5 lines (Tenkan-sen, Kijun-sen, Chikou Span, Senkou Span A & B which create the Kumo Cloud).
Ichimoku is a simple indicator like Moving Average, but the method they use makes it a very good tool in detecting market conditions and trend with which you can open trades in the best location and stay in the trade till the most profitable price.
As this indicator has lots of lines and we should
The trade strategy is based on three moving averages. To determine the trend, it uses three exponentially smoothed moving averages: FastEMA, MediumEMA and SlowEMA.
Buy signal: FastEMA>MediumEMA>SlowEMA (upward trend).Sell signal: FastEMA<MediumEMA<SlowEMA (downward trend).Input parameters:
Inp_Signal_ThreeEMA_FastPeriod = 8;Inp_Signal_ThreeEMA_MediumPeriod = 38;Inp_Signal_ThreeEMA_SlowPeriod = 48;Inp_Signal_ThreeEMA_StopLoss = 400;Inp_Signal_ThreeEMA_TakeProfit = 900;Inp_Money
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention Buttons for re
Informer for VPS - report on the state of your account via e-mail. Useful for controlling your Expert Advisors that run on a VPS or a dedicated computer. Information about open positions and last deals for a day, week, month or year grouped by currency pairs.
Adjustable periodicity of reports and depth of deals included in the report. A possibility to add own comment to each report. You will receive reports on e-mail with specified periodicity: from 15 minutes to once a day. The reports are se
Times & Sales is a famous (and old!) trading tool. However, it is not present in MetaTrader 5 as a built-in tool.
DeltaTrader now presents this indicator for MetaTrader! It has the following characteristics:
Two flag modes: FOREX and EXCHANGE
FOREX: black color: last price = 1-Minute opening price / blue color: last price < 1-Minute opening price / green color: last price > 1-Minute opening price. EXCHANGE: black color: last price = between quotes / blue color: last price = bid price / gre
The indicator of support and resistance levels. A very good helper, fits any style of trading. It has a lot of parameters for adjustment.
Prime Scalper EA is uses the strategy based on the breakdown of the most optimize support and resistance levels. Is optimized using real ticks with 99.90% model quality. Uses fixed stop loss and trailing stop of profitable trades in its operation.
This EA works on EURUSD with M30 time-frame. Fully automated trading 24/5. No need in a large initial deposit. No Martingale, No Grid. Always uses Stop Loss to protect capital. Position trailing stop is used. Both
qAutoActivation indicator is one of the main components of Trading Chaos Expert trading expert panel. The indicator displays the current trend on the current timeframe. This is the first indicator that is attached to the chart and saved in the trading complex template. It defines what trading signals from the expert panel should be automated for market entry (bullish or bearish ones).
When the trend changes, the indicator changes the line color and, at the same time, highlights the trading pane
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency.
The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. In a
I am not sure if I understand stop loss and how brokers' server deal with trade correctly, hope anyone can confirm it or point out my mistakes. There is also an issue about MT4 / MT5 operation.To make things understandable, I make two scenarios following, each one with their comments. (I might make some mistakes, if so, please correct me.)...If someone can comment on my thoughts, that would be helpful.Wjack
It's a very interesting topic.
Theoretically, with MT5, there is no difference, on execution point of view, between a stoploss and a stop order. You can have slippage in both case. However it's difficult to check how it's managed in practice, as you can only see what happens on client side.
The main difference is a stoploss apply to the full position, instead, with stop orders (sell stop/buy stop) you can realize partial close of a position. Your question about the orders book is also very interesting, but it's not easy to answer, how to check ?
I think one way to go is to ask brokers ( I have emailed my broker, to see what is the answer) (Oh, but maybe what brokers say is not fully reliable?)If stop order does have the execution advantage (queuing in the line earlier than SL), then I think SL should be abandoned (who wants to use the less beneficial one ?)Whether this is true or not should be related to brokers' operation. Just that if it is a true ECN, stop order should have this advantage. (But again, it is hard to 100% sure if that is true ECN, even if most ECN brokers claim so.)Another way to do is to place an order with SL together with a stop order. Then wait until both are triggered, and compare.Its difference (if there is any) will be quite obvious in a fast moving market (maybe do so during the news time).I probably will do this test. Just wondering if anyone has some different opinion.Many thanksWjack.
this is a really interesting idea !!! Please let us know if you've found anything interesting!
Hi:I got my broker's reply, and here is (at least in their system*) how it should work: *My broker uses Duka's liquidity pool, and use MT4 bridge to Duka.
The execution follows the FIFO (first comes first out) principle, and the priority depends on when the order arrived.
So the SL will be triggered for its attached order, and its execution priority depends on when the order was set (compared to other waiting orders).
It is the same for a sell-stop order.
The difference is (in my scenario mentioned earlier): in the single order with a SL case (let us call it order A1), the serve will only see one order, and executes its SL(or TP) when the price hits.in the order (let us call it order A2) with another sell-stop order case (let us call it order A3), the serve will see two orders, and executes A3 when the price hits.The priority of A1 and A3 depends on which was set up first.
Besides this factor, there are another two interesting factors.
1. any modification (for SL/TP or for the entry price of sell-stop) will make the order lost its original priority. this order will re-queue again from the end of current queue (It is like it becomes a newly come order).2. on the server's perspective, a SL is a pending order, so it does enter into market depth. So changing SL is the same as changing the entry price of a sell-stop, both of which effect market depth.
I think it might depends on brokers. Above is (if not all) one of the cases, which makes sense to me.
Hope this helpsRegardsWjack
Hope this helps
Thank you very much for all this information!