How to close trade if Gaps below stoploss?

[Jim67]

Hi All,
For a Buy position, How would I close a trade if it were to Gap below stoploss?
Cannot see how to select the actual Stoploss as a level, so if Candle 0 opens below it (for a buy) then close that trade?

[Jim67]

If enter Buy on close of Candle 1 with Stoploss of ATR.
Then Create Variable with value of Candle 1 Close minus ATR:

Then "On Trade" if Current Candle 0 Low is below Close minus ATR:

Am I correct in thinking This logic will not work because Candle 0 and 1 always updating so Close minus ATR always updating and So is Not the same as Trade Entry Stoploss...

[l'andorrà]

@jim67 I'm afraid I don't fully understand what you mean. Can you please upload a screenshot example?

[Jim67]

@l-andorrà Thanks for your reply
If take a Buy and candle Gaps down below Stoploss then big problems as can lose more than whole accounts balance if continues downward movement as Stoploss is above so never gets hit ....
eg:

[l'andorrà]

@jim67 If the trade is already open when the gap is created, the broker will close it automatically. You do not need to create any specific condition for that.

[Jim67]

@l-andorrà Really!?! OMFG I'm an idiot Thanks for telling me - I did not know that. I was wondering why no-one seemed to worry about it ;-))) All Good then!!

[l'andorrà]

@jim67 You're welcome.

[TipsyWisdom]

ummm...I wouldn't rely on your broker to do anything for you.

Your broker makes money whether you win or lose.

In Dreema there is a wrench in the top right corner, in there is a section called virtual stops. That was where you set emergency stuff...or perhaps you can have other closing conditions, such as "if account balance is below X%, close all trades"