What is Sell Stop order?

It is a pending order, which means to sell when the bid price gets equal to the specified value. Herewith, the current price level is higher than the value of the set order. Typically, the orders of this type are set in reliance on the assumption that the instrument price, having dropped to a certain level, will continue to decline. It is impossible to set sell stop orders above the current bid price, you have to use sell limit orders for this.