What is the stop-limit order?

This order type is activated when the price of an asset reaches a predetermined stop price. Once the stop price is reached, the order becomes a limit order where the orders would only be executed once the market price reached the predetermined limit price. If the market price never reaches the limit price, the order will not be executed despite still being in active state. Stop orders can help you protect your position and lock in profits if the price moves against you. On the other hand, there’s no guarantee that the order will be executed, especially in highly volatile markets.
Here is an illustration of purchasing crypto assets using a Stop-Limit Order:

Then, here is an illustration of selling assets using a Stop-Limit Order:

 
Example:

• You want to buy BTC coins at a market price of Rp1,500,000. You believe that if the price rises above Rp1,650,000, there is a high probability of an uptrend.
• However, you also don't want to buy at too high a price. So, you place a Stop-Limit Buy Order with a stop price of Rp1,650,000 and a limit price of Rp1,700,000.
• This means that when the market price rises and touches Rp1,650,000, your order will be activated as a Limit Order to buy at Rp1,700,000.
• If after that the market price remains at Rp1,700,000 or lower, then your order will be executed.
• However, if the price immediately jumps higher than Rp1,700,000 before the order has time to be fulfilled, then your order will not be executed, because the price has passed the limit you set