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==Stop Limit Order==
[[File:STL_orders_on_the_chart.PNG|thumb|right|Stop Limit Orders on the chart]]
[[File:STL orders in the DOM window.png|thumb|right|Stop Limit Orders in the DOM window]]
Stop Limit Order combines the features of stop order with those of a limit order. A stop-limit order will buy or sell a set number of shares at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
===Appearance===
For the '''chart window''', default Stop Limit Order marker color and connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the '''DOM window''', default Stop Limit Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
===Creating Stop Limit Order===
Create Stop Limit order by one of the following methods:
* Drag-and-drop the Stop Limit Order icon http://www.multicharts.com/img/wiki/strategies/9.png to the '''chart'''; or:
* Drag-and-drop the Stop Limit order icon http://www.multicharts.com/img/wiki/strategies/9.png to the '''DOM window'''; or:
* Right-click at the desired price level '''on the chart''' to see the shortcut menu, select '''Place Order''' and then click '''Buy / Sell Stop Limit…'''; or:
* Right-click at the desired price level on the '''DOM window''' on the '''Sell''' or '''Buy''' columns to see the shortcut menu, select '''Buy / Sell Stop Limit…'''; or:
* Right-click the Stop Limit order icon http://www.multicharts.com/img/wiki/strategies/9.png in '''[[Chart Trading#Place Order|Place Order]]''' menu to see the shortcut menu and click '''Apply Strategy''' (Buy Stop Limit order at Ask price will be created).
* Double-click the Stop Limit Order icon http://www.multicharts.com/img/wiki/strategies/9.png in the '''[[Chart Trading#Place Order|Place Order]]''' menu (Buy Stop Limit order at Ask price will be created).
<div style="background-color: #E3FBE5;">Note: Chart is context-sensitive and allows creating Buy or Sell orders depending on the price level at which you click on the chart. If you right-click above current price level, Buy Stop Limit option will be available in the shortcut menu. If you right-click below current price level, Sell Stop Limit option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop Limit and Sell Stop Limit options available. </div>
===Stop Limit Order Parameters===
Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]).
Time In Force (TIF) is defined in Time In Force field (see [[Chart Trading#Setting Time in Force|Setting Time in Force]])
When placing '''Stop Limit''' order the '''Place Order confirmation''' window appears allowing to modify ''Limit price''.
Click '''Yes''' to create the order or '''Cancel''' to abort the operation.
Check the '''Do not ask me again''' check box to disable '''Place Order confirmation''' window
<div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear and '''Limit Price''' will be based on '''Stop Limit Offset''' set in [[Chart Trading#Order Modification|Format Chart Trading]] menu. '''Stop Limit offset''' value is set to 1 tick by default.</div>
===Modification of Stop Limit Order offset===
'''To modify Stop Limit offset on the chart:'''
# Open Format Chart Trading window by one of the following methods:
#* Right-click on the chart to see the shortcut menu and then click Format Chart Trading; or:
#* Right-click on the Chart Trading panel to see the shortcut menu, and then click Format Chart Trading; or:
#* Select Format in the main menu and click Chart Trading….
# Select the '''Common Settings''' tab.
# Modify the offset in the '''Stop Limit Offset''' box.
# Click '''OK''' to save changes.
'''To modify Stop Limit offset in the DOM window:'''
# Open Format Chart Trading window by one of the following methods:
#* Right-click anywhere on the '''DOM window''' ''except'' for Buy, Price & Sell columns and control elements to see the shortcut menu and check Require Order Confirmation check box; or:
#* When '''Require Order Confirmation''' check box is checked, you may customize Stop Limit offset in confirmation window when placing the Stop Limit Order on the chart.
# Customize the offset in the '''Stop Limit Offset''' box.
# Click '''OK''' to save changes.
[[Category:Orders and Strategies]]
[[File:STL_orders_on_the_chart.PNG|thumb|right|Stop Limit Orders on the chart]]
[[File:STL orders in the DOM window.png|thumb|right|Stop Limit Orders in the DOM window]]
Stop Limit Order combines the features of stop order with those of a limit order. A stop-limit order will buy or sell a set number of shares at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
===Appearance===
For the '''chart window''', default Stop Limit Order marker color and connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the '''DOM window''', default Stop Limit Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
===Creating Stop Limit Order===
Create Stop Limit order by one of the following methods:
* Drag-and-drop the Stop Limit Order icon http://www.multicharts.com/img/wiki/strategies/9.png to the '''chart'''; or:
* Drag-and-drop the Stop Limit order icon http://www.multicharts.com/img/wiki/strategies/9.png to the '''DOM window'''; or:
* Right-click at the desired price level '''on the chart''' to see the shortcut menu, select '''Place Order''' and then click '''Buy / Sell Stop Limit…'''; or:
* Right-click at the desired price level on the '''DOM window''' on the '''Sell''' or '''Buy''' columns to see the shortcut menu, select '''Buy / Sell Stop Limit…'''; or:
* Right-click the Stop Limit order icon http://www.multicharts.com/img/wiki/strategies/9.png in '''[[Chart Trading#Place Order|Place Order]]''' menu to see the shortcut menu and click '''Apply Strategy''' (Buy Stop Limit order at Ask price will be created).
* Double-click the Stop Limit Order icon http://www.multicharts.com/img/wiki/strategies/9.png in the '''[[Chart Trading#Place Order|Place Order]]''' menu (Buy Stop Limit order at Ask price will be created).
<div style="background-color: #E3FBE5;">Note: Chart is context-sensitive and allows creating Buy or Sell orders depending on the price level at which you click on the chart. If you right-click above current price level, Buy Stop Limit option will be available in the shortcut menu. If you right-click below current price level, Sell Stop Limit option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop Limit and Sell Stop Limit options available. </div>
===Stop Limit Order Parameters===
Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]).
Time In Force (TIF) is defined in Time In Force field (see [[Chart Trading#Setting Time in Force|Setting Time in Force]])
When placing '''Stop Limit''' order the '''Place Order confirmation''' window appears allowing to modify ''Limit price''.
Click '''Yes''' to create the order or '''Cancel''' to abort the operation.
Check the '''Do not ask me again''' check box to disable '''Place Order confirmation''' window
<div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear and '''Limit Price''' will be based on '''Stop Limit Offset''' set in [[Chart Trading#Order Modification|Format Chart Trading]] menu. '''Stop Limit offset''' value is set to 1 tick by default.</div>
===Modification of Stop Limit Order offset===
'''To modify Stop Limit offset on the chart:'''
# Open Format Chart Trading window by one of the following methods:
#* Right-click on the chart to see the shortcut menu and then click Format Chart Trading; or:
#* Right-click on the Chart Trading panel to see the shortcut menu, and then click Format Chart Trading; or:
#* Select Format in the main menu and click Chart Trading….
# Select the '''Common Settings''' tab.
# Modify the offset in the '''Stop Limit Offset''' box.
# Click '''OK''' to save changes.
'''To modify Stop Limit offset in the DOM window:'''
# Open Format Chart Trading window by one of the following methods:
#* Right-click anywhere on the '''DOM window''' ''except'' for Buy, Price & Sell columns and control elements to see the shortcut menu and check Require Order Confirmation check box; or:
#* When '''Require Order Confirmation''' check box is checked, you may customize Stop Limit offset in confirmation window when placing the Stop Limit Order on the chart.
# Customize the offset in the '''Stop Limit Offset''' box.
# Click '''OK''' to save changes.
[[Category:Orders and Strategies]]