MetaTrader Tips – Placing Pending Orders Using Charts
When placing orders from charts there is no need to remember which type of pending orders to use.
To place a pending order via a chart just right click with mouse on the desired point in the chart where you would like to place the order and select the “Trading” command in the menu. You will see the types of available pending orders that can be placed.
After you have selected one of the order types, the platform will show the order creation/modification window with partly filled fields. You will then need to specify Stop Loss and/or Take Profit values.
There can be four types of pending orders:
Buy Limit — the current price level is above the value of the order to be placed
Buy Stop — the current price level is below the value of the order to be placed
Sell Limit — the current price level is below the value of the order to be placed
Sell Stop — the current price level is above the value of the order to be placed
Source: http://articles.mql4.com/189
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