Can you construct a bracket order where you attach an Order Cancels Orders to each side, and when one side gets triggered, the other OCO gets canceled. The rule is an OCO Cancelling OCO depending which one gets filled first.
Rithmic’s brackets are made up of an entry order and 1 or 2 exit orders. The exit orders may be a target limit order, for taking profit, and/or a stop order, to limit losses or both. If the entry order is associated with 2 exit orders, the 2 exit orders are associated with each other as an OCO (one cancels other) such that if one of the exit orders is filled or cancelled, the order exit order is cancelled automatically.
When a trader places a buy bracket and a sell bracket, typically to capture price action without prejudice to an expected price movement direction (common for news trades), the entry orders of the 2 brackets themselves may be linked as an OCO. In such a setup, when the one of the entry orders is filled, the other entry order gets cancelled (including its own OCO exit orders), automatically.
To link 2 (or more) orders as an OCO, locate the orders in the working orders pane of the recent orders window. Highlight the orders you wish to link, right click on one of the highlighted orders and a menu pops up, select Link selected orders as One Cancels Other (OCO) and so on.
Following these instructions will allow you to create the bracket configuration you have described in your question as shown in the image below.
If you have any further questions don’t hesitate to ask,
Optimus Futures Support