In order to delete “Stop Loss” or “Take Profit” orders, specify its level as equal to zero. When are ‘Stop Loss’ and Take Profit’ orders executed?
• The “Take Profit” order on an open Buy position is executed if the Bid price in the quotes flow becomes equal or higher than the order level. • The “Stop Loss” order on an open Buy position is executed if the Bid price in the quotes flow becomes equal or lower than the order level. • The “Take Profit” order on an open Sell position is executed if the Ask price in the quotes flow becomes equal or lower than the order level. • The “Stop Loss” order on an open Sell position is executed if the Ask price in the quotes flow becomes equal or higher than the order level. The order will be executed if at least one quote in the quotes flow reaches the order level: • Minimum Ask price is equal to the minimum bar price (Low) plus spread. • Maximum Ask price is equal to the maximum bar price (High) plus spread. • Minimum Bid price is equal to the minimum bar price (Low). • Maximum Bid price is equal to the maximum bar price (High). Note: that in MetaTrader 4, charts are created using Bid prices.
