Traders trading the news usually place two pending orders right before an important news event - that is the most known and profitable way to trade forex news - a buy-stop and a sell-stop. During and immediately after the news the price is likely to move in either direction, up or down, therefore triggering one of the pending orders. After that, the remaining (opposite pending) order is deleted.
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OCO = one (trade) cancels other (ie when the price triggers one of two pending trades) |
As you can see in the picture above, the EA placed three pending orders of each kind, longs and shorts. Once the price will reach the first pending orders, the expert will close ALL the other opposite orders.
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OCO news allows the creation of more than 2 pending orders, just before news release |
Watch how RobotFX OCO News works

RobotFX OCO News costs 49$.
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