You can check the minimum distance required for Stop Loss (SL), Take Profit (TP), and pending orders in MetaTrader 4 (MT4) or MetaTrader 5 (MT5) through the symbol specifications or order window.
How to Check the Stops Level
- Open MT4 or MT5 and locate the symbol in the Market Watch window.
- Right-click the symbol and select Specification.
- Find Stops Level in the contract specifications.
- Check the minimum distance, displayed in points, required for Stop Loss, Take Profit, and pending orders.
How to Check the Pending Order Distance
- In the Market Watch window, right-click the symbol and select New Order.
- Under Type, select Pending Order.
- Check the minimum pending order distance displayed in the order window.
How to Check the Stop Loss and Take Profit Distance
- In MT4/MT5, locate your open position under the Trade tab.
- Right-click the position and select Modify or Delete Order or the equivalent modification option.
- Check the minimum Stop Loss and Take Profit distances displayed in the modification window.
How Is the Minimum Distance Calculated?
The minimum distance is expressed in points, based on the symbol's quoted decimal precision.
Example 1: Pending Order Distance
If gold has a minimum pending order distance of 20 points and the current Ask price is 2351.79, a Buy Limit order must be placed at 2351.59 or lower, assuming one point equals 0.01.
Example 2: Stop Loss and Take Profit Distance
If gold has a minimum Stops Level of 20 points and the relevant current market price is 2731.74, assuming one point equals 0.01:
- Take Profit: 2731.94 or higher.
- Stop Loss: 2731.54 or lower.
Note: Stops Level requirements may vary by trading symbol and market conditions. The points displayed in MT4/MT5 refer to the symbol's smallest quoted price increment. Always refer to the current platform specifications and order window for the applicable minimum distances.
