For the last few months, I was thinking to write on Zerodha Algo Trading process and how to do automated trading in an easy manner. The solution is finally here. Let me introduce STREAK, the easiest Algo Trading app in India. But to start you need a Zerodha Account. If you do not have a Demat account, click here to know how to open a Zerodha account instantly.
Zerodha Algo Trading App – STREAK:
First time in India an app is launched where you can create your algo strategies, backtest it and deploy the strategy on live trades within minutes. And yes, absolutely no coding knowledge is required.
Once your Zerodha account is opened and you are ready for trading, login to the STREAK website.
There is a LOGIN WITH KITE button available. You can click that and log in with your kite credentials. It will take you to the STREAK dashboard where you can see your algos, alerts, funds, etc.
In the dashboard, you can also see sample algos, backtested P&L reports, and your top-performing algo strategies. You can click on the CREATE button to create a new algo.
You can add the scrips in the instrument input box, select your candle interval, like 1-minute, 1-hour or 1-day. You can add only NSE stocks or FNO in the instrument section. Select your position BUY or SELL and also select your quantity, i.e. how many shares you want to trade. Next in the entry criteria select the indicator you want to use for entry-exit. I used RSI as my entry and selected parameter 4 in the indicator. Next select HIGHER THAN or LOWER THAN as per the entry condition, as I selected RSI indicator to be higher than 70 for sell condition. You can add other indicators like SuperTrend indicator if you wish. Next, you can put your stop loss and target, both in percentage and name your algo strategy. So all done, now you can click on BACKTEST button to backtest the strategy.
Once you are happy with the backtest result of stock you can click the DEPLOY button to take the trade to live. This will pop up a window confirming the order type like MIS / NRML and accepting the trading terms and conditions.
Now the trades will be live and once the entry or exit conditions will be met it will automatically generate an order pop up window. If you click the order window the order will automatically be fired to the exchange.
So you can see Zerodha Algo Trading process is now really simple with this new app. What is the best part, this app is hosted on the cloud. So you have no worry of connectivity, you can use it from anywhere in the world.