The decision recipe for evaluating an underlying symbol’s price probability within a range has six inputs:
- Symbol
- Low price
- High price
- Days
- More than/less than
- Percentage
This decision recipe allows you to evaluate the probability of a symbol’s price being within a range in a certain number of days. Probabilities are derived from the Black-Scholes options pricing model.
Enter a symbol and select “Next.” The second and third fields prompt a dropdown menu to choose the security’s low price and high price, where you manually input the values to create a range. Manually enter the number of days into the fourth field. The fifth field has you define if the probability is above or below the sixth field, a manually entered percentage between 0 and 100. When you have finished creating the recipe select, “Save.”
NOTE: You can also create a custom input, which allows you to input the field later to make the decision recipe dynamic across all automations.
The decision will be added to the list of criteria. You have the option to add more decisions to the recipe or return to the automation editor. When finished, select “Save” again to return to the automation editor.
The automation editor will display your completed decision criteria for evaluating an underlying symbol’s price probability within a range.
You can always select the decision inside the automation editor and make changes to the criteria.
