Algo Trade
Parameters to Consider while taking Algo Trade - Intraday
Instrument - Index [ BankNifty or Nifty ] , [Quantity] ,
Contract [ Weekly or Monthly], Order Type - Market Order
Strategy to be selected for intraday [Hedging or Unhedged]
[Stop Loss or without Stop Loss - Trailing ]
[Target Profit or without Target Profit]
Strike Price of Options - Process [100 strike away from current price] - ATM, OTM, ITM
Display the MTM in specified time gaps
Margin Required for 1 Basket Order, Total Capital / Number of Baskets [Return on Investment]
Time of Execution - Entry and Exit Timing
Other Notes
Implementing Strategy in Multiple Trading Accounts of same Broker
For Testing - Try Paper Trading before Actual Trade
Indicators to be used for Intraday are Williams Aligator, VWAP, RSI, Volume, SMA / EMA
Chartink Links
Chartink based Algo Trading [Intraday]
Screener to be Designed by User includes the index, indicators, fundamentals, price-action, AlertName, AlertURL [json having stockname, price, alertname]
Timing of Trade [prefer early morning hours]
Amount to be traded per stock, with Total Capital to be Deployed for Algo Trading [Qty either defined or Capital/Stockprice]
Target Percent for exiting the trade, Trade Type - Actual or Paper based
Broker with API details
Target URL for Trade execution [chartink url and order completion url] [Buy-Sell Trades]
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Reports on Chartink Trade will have
StockName, Entry Price, DateTime, IndexName, Exit Price, Exit Datetime, Trade Value, Percent Gain
Screener Name, Trade Type
External Links to Google Stock Price, Screener, Finology, Chartink
Download Link of Trades