sorry about the delay - didn't have time to read it all at the time it was posted, and then got swamped and forgot to come back...
the way the conditional orders work is that there is the main order - the one you enter on the main area of the trade ticket, and then the conditional parts. The "Action" of the conditional part is in relation to the main order. Note that we do have a mouse-over tooltip for that
Example 1: OCA order (same as Bracket) to SELL BAC 100 LIMIT at 23.50 and STOP MARKET 2.50 below that (at 21.00)
the action on the conditional leg is "Same" meaning it is the same direction as the main order, or SELL in this case:
Example 2: OTA order (One Triggers another) to BUY 100 LIMIT at 21.50, SELL STOP MARKET 5 % below (20.43) :
Example 3: OTOCA order (One Triggers OCA) to BUY 100 LIMIT at 21.50, then SELL LIMIT 2 points above (at 23.50) and STOP MARKET 1.50 below that (at 20.00)
Example 4: OTOTA order (One Triggers One Triggers Another) BUY 100 LIMIT at 21.50, then SELL LIMIT at 23.50, then buy again 1.50 below that (at 22.00)
As you can see the Action (SAME or REVERSE) is always relative to the main order. If you select BUY on top, SAME will mean BUY, REVERSE will mean SELL. If you change it to SELL ... well, you get the idea.
Since the prices on the conditional legs are relative, if you change the limit price on the main order, the conditional leg prices will adjust accordingly and you can see that in the price shown above the price field. Also, if you have MT set to confirm the orders, then when you get the confirmation, MT shows the actual order that will trigger. For example:
Shortcuts - We will be adding saved orders, which will allow you to assign a shortcut to the saved order, which will do what you suggest. In the meantime, you can specify Bracket high/low settings on SETTINGS / TRADING / ACCOUNTS - select account and then look at the PRICE tab on the bottom right. That also applies to selecting high/low values in various conditional orders.
NOTE: we do not auto send anything. We send the conditional order you specify to the broker, at which point we have no further interaction with the order. Right now in MT all conditional order legs are for the same quantity. And you cannot specify 3 legs as in your TOS example. The API for most brokers does not support that, including TD Ameritrade API (TOS uses completely different stuff)
Also, in case of TD Ameritrade specifically, the conditional orders cannot be edited. Have to cancel/resubmit. Their restriction, not ours.