Traders, you’ve been asking for this, and we now have added an extra layer of functionality in scanner automations.
We now have the ability to use tagged symbols as an input inside automations. With tagged symbol inputs, we can loop through our bot symbols, tag certain symbols using specific criteria, and look for potential trades only in those tagged symbols.
Combining tagged symbol inputs in a Find Trade Idea action with a conditional decision unlocks a whole new world of opportunities.
For example, let’s say you’ve created a Watchlist focusing on big tech stocks. You can use Bot Symbols to add the watchlist to a bot.
Set specific filters to look for low RSI, and sort the tickers by highest IV rank. Bot Symbols update every time the automation runs to produce a list of symbols using real-time data.
We can connect the tagged input to the symbols field in the Find Trade Idea position details. Inside a scanner automation, loop through a list of bot symbols. Add a conditional decision that automatically tags any symbol over its 50-day SMA. Those symbols are tagged ‘uptrend,’ and the bot will continue through the automation to open a short put spread in the tagged symbols.
Combining the power of Bot Symbols, conditional actions, tagged symbol inputs, and Trade Ideas, we can:
- Focuses on a custom watchlist of tech stocks
- Sorts symbols by highest IV Rank
- Filters for tickers with an RSI below 30
- Tags tickers above their 50-day SMA
- Opens a bullish short put spread
...and so much more. Let your imagination run wild on how we can leverage tagged symbol inputs in our automations!
.png){kind=avatar}
