OCO order box on same chart
In first example we have 2 order box placed on one chart. We will use OFF line to cancel the opposite order. We can also say that with OFF line we will disable opposite order box. Result is that only buy or sell positions will be opened on same chart.
Disable advanced order types for opposite order box
Second example will show how to disable smart advanced orders for opposite order box. We will use Cancel PA func. line to cancel the opposite advanced order types.
OCO order - One Cancels the Other
OCO order trading: Below is a list of advanced price action functions that enable Order box for order execution. In this section, you see which function cancel other functions when activated. This will prevent multiple entries and give you opportunity to activate multiple price action functions at same time for one Order box. We call this OCO trading or OCO order (One Cancels Other trading). One setup cancels another like OCO orders for advanced trading approaches( mt4 oco orders, oco order mt5, oco ea mt4 ).
All this mt4 mt5 price action EA functions are integrated into Order management tool
List of automated trading strategies:
Liquidity trading strategy
LQ Execute function is triggered then next functions are canceled:
Reversal BO, Sell 2nd top/Buy 2nd bottom, Delete/Fresh, Pullback entry >> DetailsDouble top/bottom entry and Fakeout trading
Sell 2nd top or Buy 2nd bottom is triggered then next functions are canceled:
Reversal BO, ON line, OFF line, Delete/Fresh, Pullback entry >> DetailsSell/Buy ON line
Sell/Buy ON line is triggered then next functions are canceled:
Reversal BO, Sell 2nd top/Buy 2nd bottom, Delete/Fresh, Pullback entry >> DetailsReversal BO
Reversal BO (reversal breakout trading) function is triggered then next functions are canceled:
ON line, Sell 2nd top/Buy 2nd bottom, Delete/Fresh, Pullback entry >> DetailsSurrender
Surrender (stop loss to breakeven or lock in small profit) function is triggered then next functions are canceled:
Reversal BO, Sell 2nd top/Buy 2nd bottom, H&S Execute, ON line, Pullback entry >> DetailsQuasimodo trading
H&S Execute function is triggered then next functions are canceled:
Reversal BO, Sell 2nd top/Buy 2nd bottom, Delete/Fresh, Resell/Rebuy, Alert, Surrender, Breakout, Liquidity, Pullback entry >> DetailsPullback entry order
Pullback entry function (limit pullback order) is triggered then next functions are canceled:
Reversal BO, Sell 2nd top/Buy 2nd bottom, ON line, H&S Execute >> DetailsRetracement trading
Remove delete line is touched then Delete box line is removed. See how combination of 3 functions are used to create automated pullback trading strategy. Change of Character (ChoCh trading). Also work as BOS trading (break of structure) >> Details
OCO order in MetaTrader 4/5
On picture below, we can see when Reversal BO function is executed, then 2 functions buy ON and Buy 2nd bottom are disabled/removed/canceled. This way, we can use multiple functions and ensure that positions will open only once (first triggered function will cancel other functions). This is the simple concept of mt4 mt5 OCO order trading tool.
You can study trading order types to take advantage on the market.
OTO order - One Triggers the Other
Idea is that One function triggers other (OTO order trading). One Triggers Other (OTO) enable trader to have advanced price action trading approach that increase win ratio. Such automated trading strategy give more freedom to price action trading strategy.
Here we have 2 advanced trading order types connected with Liquidity trading strategy:
Liquidity + Reversal BO
Liquidity trading detection will create advanced trading order called Reversal breakout order
Liquidity + Pullback entry
Liquidity trading detection will create advanced trading order called Pullback entry order
Liquidity + Sell ON / Buy ON
When Liquidity will be detected then Order box will be activated. When price will touch Order box then positions will be opened
DOWNLOAD MT4: Order management MT4
DOWNLOAD MT5: Order management MT5
I hope you like OCO orders mt4 and OTO orders mt4. We are working very hard to make Trading box Order management tool useful for professional traders. Our goal is to automate trading and take emotions out of trading equation. MT5 OCO order is very popular among institutional trader for entering forex market at best price. MT5 OTO order gives forex trader additional trading advantage in the market.