This bot example video demonstrates how to create a trend trading bot for a portfolio of stocks using the scanner automation from the previous bot example video. You should watch the bot example video titled “Simple trend trading with stocks bot” before this tutorial for additional context.
The bot has one position open, a single share of long equity in SPY.
As a reminder, there is one scanner automation and one monitor automation active in the bot. This example will only make additions to the scanner automation. The monitor automation is already set up to manage all open long equity positions opened. The bot is turned off while making changes to the scanner automation.
Edit Scanner Automation and Add Custom Inputs (1:35)
To access the automation editor, select the icon for the scanner automation.
In the previous video, the ticker symbol SPY was inputted manually. To create a flexible variable field, you can use a custom input for the ticker symbol.
The custom input enables you to set the field anytime in the future from the bot dashboard, so you don't need to manually change the value in the automation.
Select “Add Input,” and you can label the input, assign a default value, and add a description.
Select “Save.” A custom input has been created for the ticker symbol, and the variable field is now flexible. You can add different symbols when using the automation in the future.
The symbol changes from SPY to the custom input’s label in the decision recipe and the input is added to the automation, displaying the type of custom input and its usage.
You can always remove the custom input link and replace the field manually. The input’s information will update automatically to reflect the change. This is a great way to check that custom inputs are set up correctly in an automation.
To link the ticker symbol in the open position action to the decision recipe, simply select the action and click the custom input icon.
You can reuse the custom input already created for the ticker symbol field.
The ticker symbol custom input is being used in two different actions inside the automation. The function gives you flexibility and efficiency when building an automation, and ensures you have linked the same ticker symbol throughout the automation editor. Plus, the ticker symbol can easily be changed anytime in the future.
Custom Input Settings (6:05)
To set the custom input, select the automation. The automation's details are displayed, and you can enter a value for any field using a custom input. For example, this automation will use IWM for any ticker symbol custom input.
You can always hover the mouse over the “i” icon in the Automations tab to see what custom inputs are active in the automation.
Additional Scanner Automations (6:34)
The bot has a scanner automation that uses custom inputs and enables you to set the symbol you want the automation to reference.
You can now add multiple automations, use the same ticker symbol custom input, and simply choose different symbols in each automation to build out a portfolio of trend trading stocks.
To add a scanner automation, select the “+” icon in the Scanners section. This bot will use the same stock trend scanner automation.
The automation lists all available custom inputs. For example, this automation uses a custom input for the ticker symbol. The input can be set every time a new automation is added to the bot.
The second automation, using GLD as the symbol, is added to the bot.
The bot is using the same scanner automation to find new trading opportunities. Each scanner uses the ticker symbol custom input to easily and efficiently run the automation for different securities.
You can add up to five automations to the bot to create a portfolio of trend trading stocks.
Remember, the monitor automation is designed to manage all open long equity positions in the bot using a repeater action, so it does not need to be modified. The monitor automation triggers automatically when a new position is opened, and will close the trade if the underlying security moves below its 200-day simple moving average.
To accommodate more than one position, the bot’s global settings must be adjusted.
Turn the bot on, and it is ready to scan for new positions.
