Functionality of virtual stops

[robertk]

At the moment i am using pending orders that sometimes include a tight stop. On heavy volatile pairs during Tokyo session I had my SL hit a few times because the broker widened the spread. The ASK price would hit my SL from 20 pips below during sell limit orders on these pairs...

I tried several EA's that manually closes the trade when an horizontal SL or TP line was hit (stealth, hidden TP/SL). A few worked but they would also close open trades randomly, for no reason....

Decided to check if fxDreema had an option for hidden stops and was glad to find the "virtual stop" option! Too bad i found this 30 minutes ago, now that the markets are closed.... I am looking forward to experiment with this when the markets will open again.
I did some searching on the fxDreema forums but couldnt find some clear answers as what they exactly are..

**1. **Lets say i put a pending sell limit at a price level that includes a pre-defined hard-stop and hard-take profit. Am i correct that upon filling the limit order, the pre-defined stop is now overwritten by a horizontal line that acts as a trigger stop once the BID price hits this line (so spread spikes wouldnt trigger it)?

**2. **The relative size within the Project Options -> Emergency stops -> "x" times bigger. Does it also work on values <1, (example 0.5)?

3. Is there a way to use "add pips" or "relative size" as an input parameter string, so that values can be modified within MT4 itself, instead of changing values within the MQ4 file on each trade?

4. Is there a security mechanism in place in case the BID price hits the SL level, yet not closing the trade? Some kind of loop that repeats a check of current price in relation to the horizontal line and then closes the trade if conditions are met?

**5. **Lets say price fills my sell limit with an SL being <40 pips. Spread at the moment of filling however is 40>pips. This would still trigger my SL because a virtual stop would not have the chance to "transform" the hard stop into a virtual one?

**6. **Do you think in the future there might be a possibility for a virtual take profit as well?

Thanks for all your great work!

Robert

[fxDreema]

1. I opened 1 trade and 1 pending order and this is the result - http://prntscr.com/a8eg3z

2. Yes

3. No

4. When a trade needs to be closed, the EA goes into loop trying to close it repeatedly. But this works for some type of errors, let's call them recoverable. And to not enter in endless loops, it tries 10 times. You can also connect the yellow output to the input of the block, which is a little bit... whatever. The best is if your EA is designed in a way to not do stupid things in any situation, so be prepared in case of trades failed to close.

5. Nothing is transformed. Virtual stops are horizontal lines. When you only have virtual stops, then the trade/order is placed without real stops and then horizontal lines are placed. Emergency stops are real stops, but they are placed with the trade itself. If there is some problem when creating trade/order, only error message will come from the server.

6. I use the word "stops" for both, stop-loss and take-profit. They both are closing the trade, they stop it. Stop the trade... stop... stops. Virtual take-profit can be placed right now.

[robertk]

Many thanks, this makes things clear. I think i dont have to search any further for alternative solutions/ea's as this would seem to do the job