There are also two new recipes to reference bot tags and position tags. The decision recipes check if a bot or position has a specific tag, giving you the ability to filter bots or positions by tag. This is a dynamic, flexible way to filter decisions inside an automation.
Position tags are a great way to tell the bot how different positions should be managed. They allow you to manage specific position types differently inside the same bot.
For example, if you have a monitor automation that hedges put spreads by opening a call spread, you can use the tag to identify if the call spread is a hedged position. If it is a hedged position (meaning it was opened in the monitor automation and not as a new position in a scanner), the bot will follow a different branch in the automation editor’s decision tree.
You can then add an “actively hedging” bot tag to quickly know that the bot has hedged positions.
Bot tags are a creative way to see a bot’s status, such as actively hedging or avoiding a high volatility environment using the VIX.
Bot and position tags take autotrading to another level and give you expanded flexibility and increased precision in your automations. You can use these tags in so many exciting ways as you customize your bots.
The Community has already been creatively deploying tags across a wide range of use cases.
Check out this shared bot template that gives some great use cases for tags!
With tags and switches, you now have more power in your bots than ever.