Q: Enable maximum deviation from quoted price

Quoting BurgerKing

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In the attached snapshot, what exactly does:
"Enable maximum deviation from quoted price" do?

1) If I have it at 3, does that mean when going LONG, I wont get a requote if the price moves up to 1.8730, or down to 1.8724?

2) And if I am using it on a StopBuy @ 1.8740, does that mean, i will either get filled 1.8740~1.8743 and not higher? Does this imply I wont get slipped by more than 3 pips?

3) or does this all depends on the broker's "hidden" rules?

4) What if I have it at "0"? Does that mean I accept any price the broker throws at me?

5) Lastly, what if I have it unchecked/disabled? Does that mean I want fill exactly on the price?

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Quote

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http://www.metaquotes.net/@/forum/user.gifSlawa 19.12.05 13:10

to avoid requote You need to use last known bid or ask prices. in the loop use RefreshRates function before any trading function.

FYI price checking procedure:

Client Terminal:
1. The presence of the client's prices in the ticks flow must be checked at the Terminal. If there are no prices available, immediate return with the message of "Invalid prices"

Server:

2. Prices sent by the client must be checked for the available deviation (defined by the server owner) from the current market prices.
If the price satisfies the provision, go to Clause 3.
If the deviation exceeds that defined by the user:

- if the current market price deviation from the price requested by the client is lower or equal to Slippage, go to Clause 3;

- if the current market price deviation from the price requested by the client exceeds the
Slippage, the requote with the current market prices will be returned to the client.

3. Checking of prices given by the client for availability in the ticks flow. If they are absent in the ticks flow, the requote with the current market prices will be returned to the client.

4. The request will be passed to dealer. If the dealer requotes the client's request at a new price, the following must be checked:

- if the dealer's price deviation from the price requested by the client is lower or equal to Slippage, the order will be accepted for processing;

- if the dealer's price deviation from the price requested by the client is exceeds the Slippage, the requote with the dealer's prices will be returned to the client.

Quoting BurgerKing

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This is the answer given by MT4's developer at metaquote's forum:


Hmmm... very convoluted answer; needs time to evaluate the so many holes.

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Quoting mrmikal

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This reads to me like this:

1) Price is at 1.8719/1.8723 and deviation is 3 pips
2) You push the BUY button
3) IF the ASK price is <= 1.8726 then the order goes right through otherwise, you get the requote screen.

- or -

1) Price is at 1.8719/1.8723 and deviation is 3 pips
2) You push the SELL button
3) IF the BID price is >= 1.8716 then the order goes right through otherwise, you get the requote screen.

Hope this helps

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