SPX Alerts for certain prices during the day

[Imaginativeone]

I like to set up alerts for when SPX reaches certain prices during the day. It's only 6 alerts, well, 12 for paper also. Is it possible to set them all up with a script?

 

[BenTen]

But you already had them added. Why go through a script?

 

[Joshua]

Yeah, easily, you can hard-code the price levels, or use inputs. Then you can check for Close being above or below them, or crossing them, respectively. Then you plug those into ThinkScript's Alert() function.

Before bothering with that, I noticed that the image has "notes" with percentages. These percentages are of what exactly? If I knew what those are, there is a possibility that it could be fully automatic, and you wouldn't need to type anything in.

Alternatively, you could also leave the real alerts on the screen and arm the reversing alert. You can drag them visually on the screen to adjust prices with the Show Alerts option, if you prefer that over typing.

It depends... Describe what the alerts are for, and how you're coming up with the numbers.

 

[hboogie]

Yeah, easily, you can hard-code the price levels, or use inputs. Then you can check for Close being above or below them, or crossing them, respectively. Then you plug those into ThinkScript's Alert() function.

Before bothering with that, I noticed that the image has "notes" with percentages. These percentages are of what exactly? If I knew what those are, there is a possibility that it could be fully automatic, and you wouldn't need to type anything in.

Alternatively, you could also leave the real alerts on the screen and arm the reversing alert. You can drag them visually on the screen to adjust prices with the Show Alerts option, if you prefer that over typing.

It depends... Describe what the alerts are for, and how you're coming up with the numbers.

This is really interesting . Super interested on how you could automate the notes portion and will wait for the OP’s response since I would implement something similar based on levels drawn from the open.

 

[Imaginativeone]

First, thank you all for responding to my post.

I'm setting up Verticals at 3, 2, or 1 Deltas (my favorite distance from The Money). I don't mind risking a lot for that comfortable distance, and often enough, my small profit comes in just fine. On no-profit days, the price of the underlying breaches my Vertical no matter how far-away/safe I think I might be.

The alerts let me know things are going South. I'm setting the alerts as percentages of the Short Strike Price: 85% - Category A responses, 65% - Category B responses, 50% - Category C responses (the price might be on its way to a breach!). The Notes make it clear which price-level has been reached.

I'm doing all this prep at 4:30 am to 6:00 am. While it "only takes 40 minutes", that's a lot of prime-early-morning-time working on alerts. I'd like to trim that time down by being able to set up the alerts on my live account and on paper by clicking a button in the respective environments.

Postscript: If I could automatically restore the alert, that would be a giant bonus.

 

[BenTen]

First, thank you all for responding to my post.

I'm setting up Verticals at 3, 2, or 1 Deltas (my favorite distance from The Money). I don't mind risking a lot for that comfortable distance, and often enough, my small profit comes in just fine. On no-profit days, the price of the underlying breaches my Vertical no matter how far-away/safe I think I might be.

The alerts let me know things are going South. I'm setting the alerts as percentages of the Short Strike Price: 85% - Category A responses, 65% - Category B responses, 50% - Category C responses (the price might be on its way to a breach!). The Notes make it clear which price-level has been reached.

I'm doing all this prep at 4:30 am to 6:00 am. While it "only takes 40 minutes", that's a lot of prime-early-morning-time working on alerts. I'd like to trim that time down by being able to set up the alerts on my live account and on paper by clicking a button in the respective environments.

Postscript: If I could automatically restore the alert, that would be a giant bonus.

Will you be on your TOS all the time? If you are, using @Joshua's suggested method could work.

But from the sound of it, you won't be able to monitor and have TOS running in the background. In that case, setting up price level alerts would work better.

 

[Imaginativeone]

You mean manually? Please point me in the direction of making a script for this.

 

[Imaginativeone]

You mean manually? Please point me in the direction of making a script for this.

Claude.ai took me quite far. Turns out that I just needed my price lines with accurate price levels. Creating alerts from those just takes a few seconds. Automating the alerts is next, but a lower priority than before.

 

[Joshua]

So, essentially, you're going for percentage of cushion remaining? Something like...

100 - 100 * AbsValue(CurrentPrice - ShortStrike) / AbsValue(EntryPrice - ShortStrike)
(with "price" being of the underlying)

Does that look somewhat correct? If so, then yeah, you would only need to input the price of the underlying at the time of entry, and the strike price. The alerts could be auto/dynamic, plus we could easily do all sorts of other things like active labels to track it on screen.

If not, then give me the correct formula in somewhat similar format to what I provided.

 

[hboogie]

Claude.ai took me quite far. Turns out that I just needed my price lines with accurate price levels. Creating alerts from those just takes a few seconds. Automating the alerts is next, but a lower priority than before.

Are you open to sharing what the chart looks like with what you came up with ? Curious what this looks like on a chart. Thanks!

 

[Imaginativeone]

I was mistaken. The alerts work well.