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The order is valid and will trigger a market orderonly and only IF the bid price as reach your target.
This is different than a stop. A stop will trigger the order after the price as reach the targeted level. A Stop If Bid will be triggered only if on the market someone is ready to give you your price.
You can code this, just need to look at the Bid and Ask in your strategy. The on-help help has examples of this, look at InsideBid and InsideAsk then you simply test to see if the Last is traded at the Bid.