Learning about OCO orders

Have you heard anything about OCO orders? Are they useful? on what platforms are such orders available?
I appreciate your answers very much

You can code OCO on MT4 and MT5. There's natural OCO in Integral Power Trader, Currenex, Visual Chart 5, AvaTrader, GTS Pro, VT Trader, MBT Desktop Pro, BestDirect and many others.

Thanksfor the reply. And csn you tell me your opinion about these orders?Are they helpful?

I have only used them in expert advisors on MT4/MT5. Yes, they are useful to reach a higher level of trading automation.

As far as I understand I can create conditions for 2 types of orders, for example, a limit sell order and a stop-loss sell order. And if one is executed the second will be automatically canceled?

OCO

One Cancels Other


you place a t/p and a s/l whichever one gets hit first fills the other one cancels automatically.