You have the **option** of using separate ":L" and ":S" suffixed algos, and now you can see the consequences of this approach.

It is easier to keep the algo names completely different in the first place, because:

1) They are more distinct in all respects (such as chart names), and
2) Optimal F values will not be assigned to algo longs/shorts where trades do not take place.
3) Since you will be **required** to only do long trades with ":L" and short with ":S", you will find that there is not much difference anyways.

EDIT:
Why not do both? A unique algo name **and** “:L” or “:S” at the end?