About Strategy Automation
A strategy is considered automated when TradeStation makes all of the calculations required to generate entry and exit orders. Using TradeStation, strategy ideas that are converted into EasyLanguage can generate hypothetical entry and exit orders when applied to a Chart Analysis window. As new data is collected, new orders are automatically generated when the specified criteria are met.
When you enable a strategy to generate orders, TradeStation will show these orders in real-time on the Strategy Orders tab in the TradeManager window. We refer to these orders as strategy-generated orders. You can enable alerts for strategy-generated orders so that you are updated as to changes in the Strategy Orders tab. You can choose from email messaging and audio notifications for strategy orders.
Once a strategy generates an order to the Strategy Orders tab, you can place the order as it appears, customize it at the Trade Bar, or ignore it. For more information, see Managing Strategy-Generated Orders in TradeManager. You can also take strategy automation one step further and automate the execution of your strategy-generated orders to actually trade through your TradeStation accounts. See About Automated Execution for Strategies for details.
For Equities, you cannot automate execution in a strategy for the same symbol and account where there is the possibility of taking a position in the opposite direction of an already automated execution strategy.