Yes, I would still keep the "BluetoothLE1.AutoReconnect" method set to true.
If your BLE device powered off then on again, or some other failure scenario caused the disconnect, maybe check your BLE device API / AT Commands, as sometimes you also need to set a software flag to allow an auto-connect.
Failing all that, there may be edge cases for some reason where none of this applies. Then to account for these, you're right, you would place code within the "when BluetoothLE1.Disconnected" method. first check to see that you have items in the Device list ( BluetoothLE1.DeviceList) and that the BLE device is listed, otherwise need to reinitialise a scan. You may need to check if the device is advertising (not sure here so only implement if next step does not work). If BLE device is in the list then initiate a connect request.
Also important to note that you will probably need an error handler to catch error messages as all will flag. This may happen in "when BluetoothLE1.ConnectionFailed" method or most likely in the catch-all method "when Screen1.ErrorOccurred". A bit of trial and error here but with the catch-all option it allows you to suppress the error message and reinitiate scans etc.