I need help with an MQL4 question:

Hey there, my name's Brandon. I'm co-developer in a new EA that has some great potential, but we're having a bit of trouble with some order timing. And we're banging our heads against the wall trying to figure it out. Here's the question in a nut shell:

I want a buy to close and a sell to close, and a BuyStop to open at the same time. So how do I set price of the stop order, SL of the sell order and TP of the buy order such that they all close at the same time? In the other direction, I want a sell and buy order to close, and a SellStop to open. So how do I set the SellStop price, SL of the buy and TP of the sell such that they close at the same time?

I know I need to add/subtract spread, but on/at which prices?

If you have any info that can help us we'd very much appreciate it! Also you can download an early version of the software for you to try at this link:
www.meetup.com/profitable-pips

Thank you for your time!

Brandon

If something is to be discussed by people here, then it should be done here. Try not to direct traffic to elsewhere. I think it's against forum rules.

what you've provided isn't enough detail. When do you want the buy and sell trade to close and open up a BuyStop? When would it be a SellStop? Are they all based on the same currency pair? When you say open a BuyStop or SellStop, do you mean placing the pending order or the pending order was already place, you want it to execute into a Buy or Sell order.

***removed***

Sorry if sending them to the other website is against rules. If I had thought about it, I guess I could have just uploaded a copy of the EA on here, and let people click on that. I didn't mean to cause a problem if I did!

Also thank you for your response, I'll get back with my partner (the one that knows how to write MQL4) and see what he sais.

Take care!

Brandon

That would work if spread wasn't involved. Spread needs to be added or subtracted for all the open orders to close and the stop order to become live all at the same time. But I don't know how to do it.
Mike

ok then let me revise my statements

1. The Buy order's TP is the Sell order's SL-Spread
2. The Buy order's SL is the Sell order's TP-Spread
3. The BuyStop Opening price is the Buy order's TP+Spread
4. The SellStop Opening price is the Sell order's TP-Spread

Ask is always higher than Bid. Difference is the spread.

we always Buy at the Ask and Sell at the Bid
we close a Buy order at the Bid and we close a Sell order at the Ask
just knowing this relationship, we can work out were to minus and where to plus spread.

point 1 and 2 can be re-written as

1. The Sell order's TP is the Buy order's SL+Spread
2. The Sell order's SL is the Buy order's TP+Spread

regards,
Zen

Thanks for the reply.

So if I were to apply your rules, I would have the following given the first order is placed first, second order is placed second, both buy/sell orders close at the same time as the top order is opened (on the same pair)?...

Assumptions:
Ask = 100
Bid = 99.98
Spread = 0.02

Order Price SL TP
Buy 100.00 99.00 100.50
Sell 99.50 100.52 99.02
BS 100.52 99.52 101.02

-or-
Sell 99.98 100.98 99.48
Buy 100.48 99.46 100.96
SS 99.46 100.46 98.96

Please correct me where I am wrong.
Thanks,
Mike

yes I believe so. And that's assuming your broker doesn't widen spread.