The Automation Editor is where you tell the bot what criteria to look for and what actions to take. The Automation Editor follows a decision tree framework where recipes are evaluated with "Yes" and "No" outcomes.
Adding an automation
To add an automation, select the "+" symbol to access your saved automations. You can choose an automation from your library or create a new automation.
You can name the new automation, save it to your library, and create folders to keep your automations organized.
The left side of the editor includes a control panel that displays any custom inputs the automation is using, as well as opportunities the automation references.
You can also test your automation in real-time by selecting the "Test" button.
Remember, you can add up to five automations for each type. For example, one bot could have multiple monitor automations to manage different strategy types.
Adding an action
To add an action to the automation, select the "+" symbol inside the editor to see the list of available actions.
Bot actions are the automation's set of instructions.
- Decision - Decision actions, or recipes, enable a bot to make yes / no decisions dynamically inside an automation.
- Open Position - The open position action tells the bot to send an order to your broker. The open position action gives you complete control of a position's details, such as position type, number of shares or contracts, option leg attributes, and more.
- Close Position - The close position action enables the bot to close positions and gives you complete control of when a position is closed.
- Notification - Send yourself a notification inside the platform.
- Bot tags and Position tags give you increased organization and customization in your portfolio.
- Position loops and Symbol loops allow you to loop, or scan, through position types and ticker symbols.
Decision recipes are split into conditional "Yes" and "No" paths to build out an automaton. There are dozens of recipes to choose from, and each recipe is unique. Decision recipes use specific criteria to reference market or position data and use natural language for simplicity.
To add a decision recipe, select "Decision" from the list of actions.
For example, this decision recipe checks if SPY's IV rank is above 50 before proceeding through the automation.
Select "Save," and the decision is added to the automation editor.
You can always group multiple decisions. by selecting the "+" icon under a recipe. You can connect the decisions with "and" or "or" to make one or both of the statements true.
Additional actions can be added to the "Yes" and "No" paths to complete the automation.
Scanners typically end with an open position action. Monitor automations usually end with a close position action. You can also add actions that trigger an adjustment, such as opening a hedge position.
If SPY's IV rank is above 50 when the automation runs, the bot will continue down the "Yes" path and open a position.
If IV rank is below 50, the automation will end and run again at its next scheduled interval. You do not need to put an action at the end of the decision tree. If the necessary criteria is not met to open or close a position the automation simply ends and will run again at the next interval.
You can add many actions to an automation to check different criteria and open multiple position types.
Editing an automation
You can edit an automation's actions at any time. All edits are automatically saved when you make a change.
It is important to know that if you edit an automation, the changes automatically flow through to any bot using the same automation. You can always copy an automation if you only want to edit the automation for a single bot.
You can edit (or remove) an automation in the Automations tab.
Select the decision action you want to modify inside the automation editor.
You can change any of the variable fields. For example, you can change the SMA lookback period from 200 days to 50 days.
You can also precede actions, delete actions, or edit an action's settings for more customization. Simply select the gear icon inside the decision block.
If you delete a decision block with one or more actions beneath it, you are prompted to choose which path to delete.
Likewise, when preceding an action, you must choose which path the action will precede.