Automatic price alerts will be set each time a new position is opened. By default, the threshold which triggers an alert will be a 10% change, which works for both directions. For leveraged equity shares, the alert threshold will be multiplied by the leverage ratio.
You can also manage the automatic price alert by pressing the A letter on it:
Enabling/Disabling the option, as well as customizing the percentage thresholds, can be done in Settings -> Trading Preferences -> Portfolio volatility alerts.