How To Automate Option Trades In Thinkorswim

Today we are going to discuss how to automate an order in Thinkorswim so that the platform will purchase a call option when a trend line is broken. This method can streamline your trading process and help you capitalize on market opportunities more efficiently. Let's dive into the details.

Today we are going to talk about how to automate an order in Thinkorswim so that Thinkorswim will purchase you a call when a trend line is broken. So, I want to give a shout out to Todd who asked me this advanced question and thought it would be great to share this with you as well. Todd noticed that in his studies, he could not locate an indicator or study that identified trend lines, making it challenging to program an order to buy a call. Thankfully, I have a handy indicator that can do just that. This indicator automatically creates trend lines, identifies pivots, and sets horizontal resistance and support lines. Let's go through the process step by step.

Keywords

Thinkorswim
Automation
Order
Call option
Trend line
Indicator

FAQ

Can this automation strategy be applied to other trading platforms? This specific automation process is tailored for Thinkorswim. However, similar concepts can be applied to other platforms with the appropriate tools and capabilities.
Do I need programming skills to implement this automation? No, you do not need programming skills. By following the steps outlined in the article and using the provided indicator, you can automate your order in Thinkorswim without extensive programming knowledge.
Is it essential to use the specific indicator mentioned in the article? While the mentioned indicator streamlines the process of identifying trend lines, you can explore other indicators or tools that serve a similar purpose to automate your trades effectively.