A few days back, I wrote a post on getting market feeds from Sharekhan TradeTiger to Excel, which received a great response from my readers. Since then, I have received numerous requests from my Zerodha clients on how to create a similar Excel trading system by connecting Zerodha Pi to Excel. In this post, I will explain the steps you need to follow to build an Excel trading system by connecting Zerodha Pi to Excel.
Logging in to Zerodha Pi Terminal
Firstly, log in to your Zerodha Pi terminal. Once Pi is logged in, open the Nifty50 all scrips market watch by clicking File –> Predefined Workspace –> NSE –> Nifty 50. This will load all Nifty50 stocks in your MarketWatch.
My Nifty50 MW (my given name for this MarketWatch) is open. Now, the MarketWatch needs to be sorted by symbol name. Therefore, please click on the Trading Symbol column header to sort it alphabetically.
Linking Zerodha Pi to Excel
Now, right-click on the market watch and click LINK TO EXCEL (Ctrl+E). This will connect Zerodha Pi to excel and save the market watch data in an excel sheet to the location \Zerodha\Pi\LinkExcel\Nifty50 MW.xlsx.
If you have already saved Excel in that location, for second-time use or recurring use, it will ask you to replace the Excel file.
Now the Excel file will automatically open. It will contain only 1 sheet called Nifty50 MW (the same name as MarketWatch). In case the market is open, the live price will start changing in Excel.
Creating a New Sheet and Writing Formulas
Now we will create another sheet and write formulas there. Let’s work on the same formula Open High Low Same Trading Strategy For Indian Stock Market. To build our Excel trading system, let’s create 2 columns in sheet2 called Open=Low and Open=High.
The formula for the Open=Low column 2nd row is:
=IF(‘Nifty50 MW’!H2=’Nifty50 MW’!J2,”BUY”,””)
The formula for the Open=High column 2nd row is:
=IF(‘Nifty50 MW’!H2=’Nifty50 MW’!I2,”SELL”,””)
Now select row A2 and hold the extreme right bottom corner of the cell and drag below through the entire column. It will copy the formula in the rows below. Similarly, repeat the step for the B2 column too.
Setting up Targets and Stop Losses to create an Excel Trading System
So in the Excel trading system, now we get BUY or SELL scrips. Today (2nd March 2017), I have got AMBUJACEM, COALINDIA, AND ULTRACEMCO as BUY and got DRREDDY, GRASIM, INDUSINDBK, NTPC, and POWERGRID as selling.
I have added a 2.5% target and set up a stop loss 2 ticks below the day’s low for BUY and 2 ticks above the day’s high for the day low.
Formatting the Excel Cells
I will round the targets and stop loss to 2 decimal places by formatting the Excel cells as shown below.
Renaming the Sheet and Decorating it
Finally, I have decorated the sheet a bit and renamed Sheet 2 as Trade.
Downloading and Saving the Excel Sheet
Download the Excel Sheet
Last but not the least, if you are unable to connect Zerodha Pi to Excel yourself, you can download my Excel sheet from here.
Save the Excel Sheet
Once you have downloaded the Excel sheet, save it to your /Zerodha/Pi/LinkExcel folder.
Check this youtube video for the whole process of data import:
Using the Excel Sheet for other Trading Strategies
You can use the Excel sheet for creating other buy/sell logics too. Simply modify the formulas in the sheet according to your preferred trading strategy. The formulas can be modified to accommodate different parameters such as time frames, indicators, and patterns.
Modern Ways to Get Zerodha live data in Excel
Zerodha, one of the leading discount brokers in India, provides multiple ways to extract data from its trading platforms. As they stopped access to Pi, the other way is to use Zerodha’s Kite Connect API to access live market data, order placement, and more. You can use popular programming languages like Python using the Pycharm platform to connect to the Kite Connect API and extract data from it. However, this approach is suitable for traders and investors who want to build custom trading strategies and perform advanced analysis.
FAQs on Zerodha Pi to Excel
Zerodha Pi was a popular desktop trading platform that allowed traders to place orders, view real-time market data, and access historical data. However, Zerodha has stopped supporting Pi, and it has been replaced by Kite. Kite is a web-based trading platform that offers similar features to Pi, but it is accessible from any device with an internet connection. Alternatively, traders can use third-party tools like AmiBroker, MetaTrader, and TradingView to analyze market data and place trades.
Yes, Excel can be used for trading. Excel provides powerful data analysis and visualization tools that can help traders make informed decisions. Traders can use Excel to import real-time market data, create custom indicators, and develop trading strategies. Additionally, Excel can be used to manage trades, track performance, and generate reports.
To make a trading system in Excel, you need to follow these steps:
Import market data into Excel using a data source like Zerodha Pi or Kite Connect API. Create custom indicators using Excel formulas or VBA macros. Develop trading strategies based on the indicators and market data. Implement the strategies using Excel functions or VBA code. Test and optimize the strategies using historical data. Monitor the strategies in real time and make adjustments as necessary.
To create an automated trading system in Excel, you need to follow these steps:
Import real-time market data into Excel using a data source like Kite Connect API. Create custom indicators using Excel formulas or VBA macros. Develop trading rules and logic based on the indicators and market data. Implement the rules and logic using Excel functions or VBA code. Automate the system using Excel’s built-in automation features or VBA macros. Test and optimize the system using historical data. Deploy the system in a live trading environment and monitor it for performance and stability.
Conclusion and Alternative Methods
In conclusion, creating an Excel trading system connecting Zerodha Pi to Excel is a great way to get live market data and automate your trading strategies. However, since Zerodha Pi is no longer supported, this process is no longer viable.
An alternative method to get live market data is to use Python and Pycharm to populate live stock market data into Excel. This is a more advanced method and requires some programming knowledge, but it is a viable solution for those looking to automate their trading strategies. There are many online resources available to learn Python and Pycharm, and there are also many pre-built libraries and APIs that can be used to retrieve live market data.