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An "If/Then" Order consists of one main order and two additional orders. The main order is used to open the position, while the two additional orders are meant to close it. When the main order is executed, and the position is opened, the two additional orders become active and pending.
Example: If you place an "Entry Pending Order" for a long or short position and also set "Take Profit" and "Stop Loss" orders, it creates an "If/Then" order. The Entry Pending Order opens the position when the specified price is reached, and the other two orders remain pending until their respective prices are met. Once that happens, the position is closed accordingly.