Why my order wasn’t executed while Low was below the order level for 2 pips?
Let’s look at the bars’ formation technique in Metatrader:
High is the maximum BID over a period.
Low is the minimum BID over a period.
Thus minimum ASK is equal to Low + Spread, and maximum ASK is equal to High+ Spread.
Stop Loss and Take Profit of open Buy position will be executed when the BID price in the quotes flow becomes equal to the order level.
Stop Loss and Take Profit of open Sell position will be executed when the Ask price in the quotes flow becomes equal to the order level.
Pending orders Buy Limit and Buy Stop will be executed when the Ask price in the quotes flow will be equal to the order level.
Pending orders Sell Limit and Sell Stop will be executed when the BID price in the quotes flow will be equal to the order level.
For example, you’re supposed to open a sell position in EUR/USD at 1.2250 and place Stop Loss at 1.2340 level and Take Profit at 1.2190 level.
You should remember that Sell position is closed by Buy, and we buy at the Ask price, so Stop Loss will be executed when the minimum Bid becomes equal to 1.2338 + Spread (2 pips in EUR/USD). Also you should remember that the High in the chart is the maximum Bid, so if you see High = 1.2338 or above your Stop Loss must be executed.
When will Take Profit be executed? Sell position is closed by Buy and we buy at the Ask price. Take Profit will be executed when the minimum Bid becomes equal to 1.2188 (1.2190 - Spread). At this moment minimum Ask is equal to (minimum Bid + Spread) = 1.2190. You should remember that Low in the chart is the minimum Bid. So Take Profit will be executed only when the Low at the chart will reach at least 1.2188 (order level — Spread).
