Automations are the set of instructions you give the bot. You tell the bot what to look for, what to filter out, what decisions to make, and what actions to take if an opportunity presents itself.
There are three automation types available to maximize flexibility inside a bot:
- Scanners
- Monitors
- Events
Scanners, monitors, and events can be used to enter, exit, and manage positions based on specific criteria.
Bots can have five scanner automations, five monitor automations, and five repeating schedule event automations of each type (daily, weekly, monthly, etc.).
Automations are located in the automations tab.
Scanner Automations (:41)
Scanners are active throughout the day, looking for new opportunities. You can have up to 5 scanners inside of every bot, with each scanner referencing multiple criteria as it searches for opportunities to enter a new trade. Scanner automations will not open a new position if it violates an allocation or position limit.
Scanner automations can be relatively simple or complex. You have complete control of the decision criteria you want the bot to reference when searching for opportunities. Scanners typically end with an open position action.
Scanners run on defined time intervals during market hours. Scanners can be created, reused, or cloned and added to any bot. Numerous decision recipes can be used within the scanner to open a new position.
Monitor Automations (1:34)
Monitor automations manage positions. Monitors are only triggered after a new position has been opened.
Monitors continuously watch active open positions and look to exit or adjust positions based on the decision criteria you input. Like scanner automations, monitors run on defined time intervals.
Monitor automations typically begin with a repeater function and end with a close position action to exit the trade. The repeater function tells the monitor to repeat through all positions of a certain type and repeat the same actions throughout the bot for all applicable positions.
Monitor automations can be as simple or complex as you like and designed to monitor different position types, multiple underlying securities, or all positions within a bot.
Event Automations (2:39)
Event automations have multiple categories and are triggered on a schedule or when something occurs inside the bot. Unlike monitor automations, which continuously manage positions at defined intervals, events can be scheduled for specific dates and times, run as a contingency when another position is opened or closed, or run immediately at the click of a button.
There are multiple types of events that can be automated:
On a specific date
You can run an event on a specific date or time in the future. For example, if you wanted to enter a position on the first trading day of every month, you could schedule it with an event automation.
On a repeating schedule
You can run an automation on a repeating schedule. For example, you can schedule an automation to run every Monday and Friday at 3:00 p.m.
Open new position and close position
An automation is triggered to run one time if a new position is opened or an existing position is closed.
Buttons
Buttons are events that run an automation at the click of a button. Any time the button is clicked, it will immediately run the automation. Customized buttons can be created for any scanner or monitor automation and added to the bot dashboard.
