Timed Dual Stop Orders with Opposite-Order Cancellation

Summary

This document describes a one-shot pending-order method. At a user-configured time, the script places a buy stop and a sell stop a specified distance from the current price, with configured take-profit and stop-loss levels. When either pending order triggers, the script cancels the other order and then ends its run. This makes the approach a simple way to prepare for movement in either direction around a chosen time, while ensuring the two entries are not both left active after one is filled.

The document gives no market, timing rationale, parameter values, historical test, or performance evidence. It also does not explain how the script handles gaps, slippage, rejected orders, or whether cancellation completes before the other order could trigger. Traders would need to assess those execution and risk details, and test the settings on their own instruments and brokers before relying on the method.

Key ideas

• The script places one buy stop and one sell stop at a configured time.
• Both entry orders are set a specified distance from the current price.
• Configured take-profit and stop-loss levels accompany the pending orders.
• After one order triggers, the script deletes the opposite order and terminates.
• The document provides no evidence that the method is profitable.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.