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OrderSend - Type of orders!

"OK, now I have a brain pain! I just spent the morning scanning thru the MQL4 and MetaTrader help file pages to try and track down if I missed anything."

Could you please answer me only one question:

When I open a Buy order using OrderSend function, Should I use the Ask or the Bid price? What about the Stop loss is it going below or above the Ask or the Bid price? What about the Take profit?

When I open a Sell order using OrderSend function, Should I use the Ask or the Bid price? What about the Stop loss is it going below or above the Ask or the Bid price? What about the Take profit?

What about BUYLIMIT, BUYSTOP, SELLLIMIT and SELLSTOP orders?

Is that the only one question? Well here’s the answer!

OP_BUY

Ask
Ask-StopLoss
Ask+TakeProfit

You Buy at the current Ask price of the currency!
You set the StopLoss Below (-) the Ask price!
You set the TakeProfit Above (+) the Ask price!

Example:

OrderSend(Symbol(),OP_BUY,Lots,Ask,slippage,
Ask-StopLoss*Point,Ask+TakeProfit*Point,”comment”,0,0,Green);

OP_SELL

Bid
Bid+StopLoss
Bid-TakeProfit

You Sell at the current Bid price of the currency!
You set the StopLoss Above (+) the Bid price!
You set the TakeProfit Below (-) the Bid price!

Example:

OrderSend(Symbol(),OP_SELL,Lots,Bid,slippage,
Bid+StopLoss*Point,Bid-TakeProfit*Point, ”comment”,0,0,Green);

OP_BUYLIMIT

Ask-Level
Ask-Level-StopLoss
Ask-Level +TakeProfit

You Buy at future price level Below the current Ask price of the currency!
You set the StopLoss Below (-) the Ask - the level price!
You set the TakeProfit Above (+) the Ask - the level price!

Example:

OrderSend(Symbol(),OP_BUYLIMIT,Lots,Ask-Level*Point,slippage,
(Ask-Level*Point)-StopLoss*Point,
( Ask-Level*Point)+TakeProfit*Point,”comment”,0,0,Green);

OP_BUYSTOP

Ask+Level
Ask+Level -StopLoss
Ask+Level +TakeProfit

You Buy at future price level Above the current Ask price of the currency!
You set the StopLoss Below (-) the Ask + the level price!
You set the TakeProfit Above (+) the Ask + the level price!

Example:

OrderSend(Symbol(),OP_BUYSTOP,Lots,Ask+Level*Point,slippage,
(Ask+Level*Point)-StopLoss*Point,
( Ask+Level*Point)+TakeProfit*Point,”comment”,0,0,Green);

OP_SELLLIMIT

Bid+Level
Bid +Level +StopLoss
Bid+Level –TakeProfit

You Sell at future price level Above the current Bid price of the currency!
You set the StopLoss Above (+) the Bid + the level price!
You set the TakeProfit Below (-) the Bid + the level price!

Example:

OrderSend(Symbol(),OP_SELLLIMIT,Lots,Bid+Level*Point,slippage,
(Bid+Level*Point)+StopLoss*Point,
(Bid +Level*Point)-TakeProfit*Point,”comment”,0,0,Green);

OP_SELLSTOP

Bid-Level
Bid -Level +StopLoss
Bid-Level-TakeProfit

You Sell at future price level Below the current Bid price of the currency!
You set the StopLoss Above (+) the Bid + the level price!
You set the TakeProfit Below (-) the Bid - the level price!

Example:

OrderSend(Symbol(),OP_SELLSTOP,Lots,Bid-Level*Point,slippage,
(Bid-Level*Point)+StopLoss*Point,
(Bid -Level*Point)-TakeProfit*Point,”comment”,0,0,Green);