Reverse straddle - has potential or totally mad?

[monsterer]

This system would be best used in a situation where there is NOT a trend… If there is a trend then that increases the likelihood of the orders not being filled as price movement will be one directional

If there’s no trend order offset = 0, up-trend order offset = +, down-trend order offset = -

[monsterer]

Some examples of the setup. See if you can figure it out.

Intriguing! I will have to look into this when I get a free moment

[DonaldQ]

Not necessarily. One will be a limit, other will be a stop. Depends where your orders are and price of course.

From the description of the OP’s strategy, I understood he/she would be creating BUY orders below price (so OP_BUYLIMIT in MT4 terms) and SELL orders above price (so OP_SELLLIMIT trade op), and that the orders would form a straddle (either side of price). Also, both orders would be placed at the same time. You cant place STOP orders given that setup (Certainly not in code/EA).

If that is not the case, my apologies.