The article is the ultimate guide of Zerodha kite web 3.0, a trading and charting platform of Zerodha (India’s No 1 Discount Broker). Here, you can do trading and charting analysis simultaneously. Previously, we’ve written an article on Zerodha kite mobile app. First, we will describe the tools and features in detail. After that, a brief charting description is given here.
How to get Zerodha Kite Web 3.0 Platform?
Making a Profit is just One step away from you. If you still don’t have an account in Zerodha, open now and Start making a profit. Here is the LINK TO OPEN AN ACCOUNT WITH ZERODHA and get FREE access of ZERODHA KITE.
Zerodha Kite Web 3.0 – Charting And Trading Combined
Zerodha’s new Kite offers you brand new dashboard. Here you can see your account summary and scrips at a glance. Also, you can see your favorite scrip here and place a buy-sell order without adding it into the market watch.
Market Depth Window
First of all, I am going to cover the definition or function of the market depth window. This window is also referred to as the snap quote window. On Zerodha Kite one can get the market depth option with each selected script. Multiple MD windows can be opened in Zerodha Kite. Just move your cursor on the script you select, you can get the market depth besides buying and selling option. It is an updated reflection of real-time market activity or an overall presentation of market movements. This window not only displays the overview of current market strength but also helps traders to evaluate the market activity.
In Zerodha Kite, the information one can get through MD window is bid price and offer price with orders and quantity. Along with this, open, high, low, close, the average price, volume, LTQ (last traded quantity), LTT (last traded time). In order to clarify the subject more easily, I am giving an image of MD window option from Zerodha Kite.
The above image is given here as an example. As you can see that besides B (buy) and S (sell) option you can find market depth windows. Step by step I am going to describe the available information in MD windows.
This refers to the price a buyer is willing to pay for a security at the bid price. The window shows best five bid price with orders and quantity.
The price at which sellers are willing to sell securities. MD displays the best five offer price as well with orders and quantity.
Therefore, bid price highlighted in blue and offer price highlighted in red. As we can see in the above statement that the offer price is more than the bid price. I have already mentioned that bid price refers to buy price and offer price is sell price. Hence, when the offer price is more than bid price that indicates the market is going down and when the bid price is up, the market is in a bullish trend.
From the other information like open, high, low, close, volume, LTT, LTQ traders can evaluate any security and analyze the price. It shows not only where price is now, but where it is likely to be in the near future.
So, Market depth window plays a significant role in the online trading account. Traders can fully utilize the option to monitor current market price movements.
Kite has advanced order section. Here you will get different types of orders like MIS (intraday), CNC (Cash and carry), Market, Limit, SL, SL-M (Stop loss market) etc. Under the advance section, traders can get BO, CO which are described below. Apart from this, there are AMO (after market order), IOC (immediate or cancel order) etc.
Bracket And Cover Orders:
We are really happy to finally see Bracket Order (BO) and Cover Order (CO) in the kite. Just open a normal order window and click on More Options to open the BO and CO features. For example, you want to buy Nifty at 7915 with a stop loss at 7900 (15 points) and a target at 7945 (30 points), than in price write 7915, in stop loss write 15 and in square off write 30. Check the image below:
Holding & Positions Section:
Check your positions and holding in the single mouse click. Export to excel with ease. New Zerodha Kite Web 3.0 contains many useful features. The position shows the current profit-loss statement of daily trading. If you work with CNC (Cash and carry), your script will be shown on the holding section after 24 hours.
Zerodha Kite web 3.0 Chart
Once you open the home screen, it opens with MarketWatch on the left and center of the screen is occupied with information on your balance in Equity and Commodity, how much has been used in trading, total account values in both the sections, margin used, realized a profit and so on. Above the center of the screen, there are buttons like Dashboard, Orderbook, Holdings, Position, Funds, Apps and your account besides buttons for add fund and withdraw.
To open a Zerodha Kite chart, one has to select a scrip from Marketwatch. On selecting the scrip, a drop-down menu appears and there is a chart button there. Select the chart button and there appear a few buttons to customize the chart. First is the time button to which you can adjust your preference for the time frame. The time frame appears in 1min (minute), 3min, 5min, 10min, 15min, 30min, hour, 1d (day), 1w (week), 1mo (month). After the time frame is selected go to display button to select the chart style and choose from Candlestick/ Bar/ Line/ Coloured Bar/ Hollow Candle/ Mountain/ baseline/ Volume Candle. In addition, there is a preference button for Chart Preference like Log Scale/ Continuous Scale. In the same menu, one can also customize the chart types from Heiken Ashi/ Renko/ Point & Figure/ Kagi/ Range Bars/ Line Break with settings button beside these. say one wants to set the range of Renko bars and wants to see the Renko Chart, whenever the setting button is clicked, a menu appears asking to put your preferred range or choose Auto Select to view it in default mode.
Zerodha Kite chart also offers the Studies button which allows the user to choose from a big array of technical charts. Though we have shown two Supertrend Charts and imposed one on another, you can choose anything you wish and make a trading system from that, like DMA/ EMa crossover, Bollinger Bands, Keltner Channel, a combination of MACD and Williams%R, RSI – all at your own wish. One can also save chart preference or clear preference through View/ Layout button.
Candlestick Chart Pattern:
The pattern forms with different types of candlesticks. Each candlestick provides important information. It has a main body that indicates opening and closing price, use in two different colors to distinguish bearish candles from the bullish. Shadows indicate the high and low price for a specific period of time. There are lots of candlesticks pattern, you can find full description regarding candlestick chart pattern in our site.
Before the introduction of the candlestick, bar chart was the most widely used chart pattern. It is a versatile and basic pattern. In this type, each bar represents a single unit in time, a min, an hour, a day, etc. Each bar consists of three parts such as the central line, the left mark or tick, the right mark/tick. It also refers to as OHLC charts (open-high-low-close). In this type, some charting application uses color to indicate a bullish or bearish trend. To clarify the chart pattern in an easy way I am going to describe the three components of a bar.
- The central line- The top of the vertical line represents the highest price of a security and bottom indicates the lowest price trading.
- The left mark- The opening price is shown on the left side.’
- The right mark- Right side represents closing price.
As I have stated above that certain charting application uses color to indicate a bullish or bearish trend. A colored bar has almost the same characteristics as normal bar pattern. The only difference is the bar represents bearish and bullish trend by application of two different colors. You can identify the trend more easily by following the pattern.
Line Chart Style:
The line chart style is slightly different from bar and candlestick pattern. In the above two pattern, one can identify opening, closing, high and low price separately but in the line chart style, a series of data are connected together to form a line. Unlike the other pattern, it only represents closing price over a set period of time, doesn’t represent the visual information of the trading range. The advantage of the pattern is its simplicity, with a glance trader can get an overall view of the trend.
In normal candlestick when the candle is green or bullish, the close is higher than the previous close. A red candle defines bearish trend where the close is lower than the prior close. Though color is not a factor, you can change the colors according to your wish. Now come to the hollow candle, a candlestick is hollow (white) when the close is above the open, bullish trend and filled when the close is below the open, indicates a bearish trend.
This chart appears like a mountain. It is a similar line pattern that the area under the graph is shaded in color. It doesn’t serve any additional purpose for the technical analysis. Like line graph, it represents the closing price of a security. Mountain chart also refers to as area charts. The application of the style is useful for understanding fluctuation in prices more easily and prominent way. Financial newspapers also often use this specific pattern to their analytical report.
This is one of the most useful chart styles to read price fluctuation properly. You can change the baseline according to your demand. Just drag the baseline level according to you to get an accurate view of price movements. It appears like a line chart with a baseline. Due to the addition of the baseline, the chart becomes more prominent.
This candle is extremely useful in determining the strength of a trend. Increase volume defines sustaining of the trend. Just like normal candlestick chart it also has filled or unfilled body with tails along with volume. This specific combination helps to study candlestick patterns in combination with their volume. Short candlestick indicates uncertainty while high volume indicates increased interest of the traders to exit or enter the position of any security. The trend might reverse.
These are some of the widely used different types of chart style. By using these traders can analyze market movements and compare current price fluctuation with past data. The most primary objective before technical analysis is familiar with all the above chart to understand the market properly.
Other features in Zerodha Kite Web 3.0:
1) Introduction of many new indicators
2) Advanced SuperTrend indicator
3) Inchimoku indicator
4) Volume profile
5) Compare option between 2 stocks
6) Kite connect option available for automated trading with Amibroker, Excel or Python
7) Chart pop up option available for using multiple charts at a time
Overall Zerodha Kite Web 3.0 has a clear edge over other broker’s platform in the point that it can be opened from any web browser and android app OR IOS app. The charting and trading are possible even on 2G data, so even traders living in tier 2 cities can start trading using this terminal.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.