How Does a “Stop Limit” Order Combine a TIF Concept with Price Control?

A stop limit order is a two-part order: a stop price and a limit price. When the stop price is reached, the order is activated and becomes a limit order.

This limit order then inherits a Time in Force (TIF) instruction (e.g. Day, GTC, IOC).

The TIF dictates how long the limit order remains active. Thus, the stop limit order uses the TIF to control the execution lifespan of the order after its activation, ensuring the trade does not occur at a worse price.