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Strategy Deployment Features

AlgoTest offers a range of highly customizable features that enable you to tweak your running strategy to meet your specific needs. With these adaptable features at your disposal, you can effortlessly manage your approach without any constraints.

Square off 

This feature enables you to square off your strategy with just one click manually. Once you click on the "Square off" button, your strategy will exit all its positions and pending orders. It won't take any further orders after that. You can square off your strategy by clicking on the "Square off" button, as shown in the image below.

Switch to Manual 

This feature gives you the ability to manage your trading strategy manually through your broker's platform. When you click on the "Switch to Manual" button, your strategy will be disconnected from AlgoTest and the system will no longer generate any further orders for that strategy. You will need to handle the strategy manually through your broker's platform. To switch your strategy to manual mode, simply click on the "Switch to Manual" button, as illustrated in the image below.

MTM Graph

The MTM graph is an invaluable tool that visually displays your PNL (Profit & Loss) throughout the day. It helps traders :

  • analyze how their PNL is affected by different price movements in the underlying

  • fine-tune their strategies based on market movements

  • provides a visual representation of our Profit & Loss throughout the day!

How to View your MTM Graph on AlgoTest

You can easily view your MTM Graph on AlgoTest by following the steps shown in the image below :

  • Navigate to the live trade page in AlgoTest, which is displayed in the image below.

  • Click on the "MTM Graph" button, which is displayed in the image below.

  • Your MTM graph will be displayed, as shown in the image below.

  • This graph provides you with valuable information to help you analyze your trading strategy and make adjustments based on market conditions.

Show Underlying Feature

The "Show Underlying" feature plots the underlying index graph on your MTM (Mark to Market) graph, allowing you to analyze how your MTM moved in response to changes in the underlying market.

Min/Max MTM Feature

The "Min MTM" feature shows you the lowest point your MTM reached throughout the day and when it reached that point, while the "Max MTM" feature shows you the highest point your MTM reached throughout the day and when it reached that point. 

Download MTM Feature

You can also download your MTM graph in image format to your device, as well as the minute-wise MTM of your strategy/portfolio for deeper analysis in CSV format.

Add a Leg (Add a leg on the fly)

This new feature enables you to add another trade to a running strategy, which gives you greater control over your active trades. You can now adapt to market changes quickly by adding another leg (trade) to an already-running strategy. This feature provides you with more flexibility and control over your trades.

How to Add a Leg to a Running Strategy

To add a leg to your running strategy, you need to follow a few simple steps.

  • To begin, locate the "trades" button on the live trade page and click on it.

  • Click on the "Add Leg" button.

  • Select the option contract you want to trade by choosing the desired strike and expiry from the options chain.

  • It offers several risk management features, allowing you to input Stop-Loss, Target, Trail SL, and Re-Entry based on your preferences.

  • Customize Execution Settings to enhance your order execution. Select product and order type based on your preference. 

  • Click the "Place Order" button to proceed, as shown in the image below.

  • You can find the leg added to our strategy under "Running Legs". There is also a notification of it in the notification box, as shown in the image below.

Impact on Running Strategy

Please note the following information regarding the impact on your running strategy when you add a new leg:

  • Your overall settings, such as Overall Stop Loss, Target, Trailing Stop Loss, and Lock & Trail, will remain unchanged after adding a new leg.

  • The "No Re-entry after" setting will also apply to the newly added leg. You can enter the new leg after the specified time but you will not be able to re-enter it after the set time.

  • You can set your execution settings for the newly added leg while adding it.

  • Please note that you cannot have more than 10 legs in a strategy. Therefore, your new and existing legs cannot be more than 10.

  • The range breakout functionality is not available for this feature.

  • The Quantity Multiplier will not be applied to the newly added leg. Therefore, you need to specify the exact number of lots you would like to trade.

Squareoff Individual Leg

With this amazing feature, you'll have the power to swiftly and independently close any leg in your trading strategy. Take control of your trades and make informed decisions, all with the ease and convenience of this outstanding tool.

Square Off Individual Leg in Strategy

To Square Off individual legs in a running strategy, you need to follow a few simple steps.

  • To get started, locate and click on the "Trades" button that is situated on the live trade page.

  • This page displays all the running legs in your strategy. Click the "Squareoff" button on the right corner of each leg as shown in the image below.

  • The system will prompt you to confirm the action. At that point, simply click on the "Square Off" button to proceed.

  • It will only square off that particular leg, as shown in the image below.

Impact on Running Strategy

If you choose to use this feature, it will not affect your other running legs or legs that you have yet to enter. Your overall running strategy status will remain the same. Let's explore how your other parameters will be impacted if you decide to use this feature.

ConditionSquare- offLegwise Re-entry on SL/Tgt (Any)Overall Re-entry on SL/Tgt (Any)Action
Time-Based StrategyPartialNoNoBased on your discretion, you can square off any of the legs while the remaining legs will continue to run as per defined conditions.
Time-Based StrategyCompleteNoNoYou can choose to square off any of the legs at your discretion, without triggering the Square off in complete condition. The remaining legs will continue to run based on their defined conditions. The square-off complete condition will only be triggered once the defined Stop Loss (SL), Trailing Stop Loss (TSL), or Take Profit (TP) of the remaining legs are hit.
Simple Momentum/ ORBPartialNoNoWhen using this feature, you can only square off the leg that has been entered. Once that leg has been squared off, the strategy will continue running and any other legs that have not been entered yet will wait for their conditions to be met. Please note that you cannot use this feature to square off or cancel the order for a leg that has not been entered yet.
Simple Momentum/ ORBCompleteYesNoThe Running Legs can only be squared off by using this feature. However, doing so will not trigger the square off complete condition. The strategy will remain in a "Running" state and wait for conditions to be fulfilled for the other leg. The square-off complete condition will only be triggered when the remaining leg's defined SL/TSL/TP is hit.
Time-Based Iron FlyPartialYesNoAny of the legs can be squared off, making its re-entry condition useless, while the other legs continue to function as intended.
Time-Based Iron FlyCompleteYesNoYou can square off any of the legs. This will not trigger the square-off complete condition or the Re-entry condition for the manually squared-off leg. The square-off complete condition shall only be triggered once the remaining leg is defined SL/TSL/TP gets hit, thus triggering the re-entry condition for all legs.
Simple Momentum/ ORBPartialYesNoWhen using this feature, it's important to note that the legs can only be squared off once they have been entered into the market. Once you've manually squared off a leg, the strategy will continue to run, but any yet-to-be-entered legs will wait for their conditions to be met before entering the market. It's important to keep in mind that the re-entry condition on a manually squared-off leg will never be triggered. Additionally, it's not possible to square off or cancel an order for a leg that has yet to be entered.
Simple Momentum/ ORBCompleteYesNoThe Running legs must be squared off individually. Squaring off any one of the running legs will not trigger the condition for the complete square-off or the re-entry condition for the squared-off leg. The strategy will remain running and wait for the fulfillment of conditions for the other legs. Only when any of the other legs enter and square off due to their SL/TP/TSL condition being triggered will the square-off be complete and the Reentry condition for all legs be triggered.
Time-Based Iron FlyPartialYesYesIt is possible to square off any of the trading legs, making the re-entry condition for that particular leg ineffective. However, the other legs will continue to run as per the defined conditions. The overall re-entry condition will only be triggered when the overall Stop Loss, Trailing Stop Loss, Take Profit, or Lock-in Profit Target is hit. At this point, all trading legs will be squared off and the strategy re-entry will take place.
Time-Based Iron FlyCompleteYesYesIt is possible to square off any of the legs, but doing so will not trigger the square off in complete condition. The square-off complete condition will only be triggered once the remaining leg's defined Stop Loss (SL), Trailing Stop Loss (TSL), or Take Profit (TP) gets hit, thus triggering the re-entry condition for all legs. The overall re-entry condition will be triggered once the overall SL, TSL, TP, or LT hits. At this point, all legs will be squared off and the strategy re-entry will take place.

Trades 

This feature gives you all the info about the trades executed in your strategy.

Instrument

This will display the contract information for the executed order.

Quantity

This will display the quantity of your order that has been executed.

Entry Trigger Time

This displays the time at which your entry order became active for execution.

Entry Time

This will display the time at which your entry order is executed in the market.

Entry Trigger Price

This will show you the price at which your order became active for execution. It is the price that came on our feed when your entry condition was met as per what you have defined in your strategy.

Entry Price

This displays the price at which your entry order is executed.

Entry Report Time

This will display the time at which the broker confirms the execution of your Entry Order.

Initial SL

This displays the price at which your stop loss is placed based on your strategy.

Updated SL

This displays the trailed stop loss for each individual leg.

Target

This feature displays your target price for your leg based on your strategy.

Exit Trigger Time

This displays the time at which your exit order became active for execution.

Exit Time

This will display the time at which the specified leg is exited.

Exit Report Time

This will display the time at which the broker reported to us that your Exit Order has been executed on their end.

Exit Trigger Price

This will show you the price at which your order became active for execution. It is the price that came on our feed when your exit condition was met as per what you have defined in your strategy.

Exit Price

This displays the price at which your order for exit is executed.

Underlying

It shows the underlying value at the time your leg entered and exited.