They do support Buy/Stop limit orders but their definition is unfortunately different. The IB interpretation is the one below.It is used on all their instruments in the same way.
Real World Example of a Stop-Limit Order
For example, assume that Apple Inc. (AAPL) is trading at $170.00 and an investor wants to buy the stock once it begins to show some serious upward momentum. The investor has put in a stop-limit order to buy with the stop price at $180.00 and the limit price at $185.00. If the price of AAPL moves above the $180.00 stop price, the order is activated and turns into a limit order. As long as the order can be filled under $185.00, which is the limit price, the trade will be filled. If the stock gaps above $185.00, the order will not be filled.
MT5 Does it differently,
They only allow the limit price to be below the value of the buy/stop. So price must first reach the buy stop, then it has to retrace back to a lower price where the limit is so it can trigger.
This does not work for me cause I'm using it to trade news and want the limit price to protect me from slippage as in the example above.
So My question to Cornelius is ? What happens in IB when A buy/stop limit is sent from MT5 to the bridge ? How does it handle the lower Limit price since IB has the proper definition of BUY/STOP limit.
For me Ideally, If I could send a normal BUY/STOP from MT5 with 2 additional parameters , the first being interpreted as a BUY/STOP/Limit and the second being the value of the limit (being above the Stop) I would code those parameters in My EA and it would solve my problem.
Or any other solution would be welcomed.
The alternative is grim, means I have to write my own bridge
![Sad :(](./images/smilies/icon_e_sad.gif)