Chartink Multistock Automation
The Chartink Multistock feature on AlgoTest Signals allows users to automate trades across multiple stocks based on a Chartink Alert —without the need to specify a stock in advance. Whenever a stock from your Chartink scan triggers, the corresponding strategy is automatically executed for that stock.
This is ideal for traders using large watchlists (e.g., Nifty 50, All F&O stocks) and looking to automate signals without manually setting up one strategy per stock.
How It Works
Instead of creating individual signals for each stock, users configure one Multistock Strategy linked to a Chartink alert. The stock to be traded is dynamically fetched from the Chartink alert payload.
Whenever the alert is triggered, the selected legs (buy/sell action) of your strategy will be executed for the stock present in the alert.
Supported Universes
It supports all NSE stocks with F&O enabled. You can also create custom watchlists on Chartink for full flexibility.
Step-by-Step Guide
1. Create a New Signal on AlgoTest
- Go to AlgoTest > Signals Dashboard
- Click "Create Your First Signal"
- Select Chartink - Multistock as the signal type
- Choose between Forward Test or Live Deployment
For this demonstration we will connect with Forward Test
- Proceed to Strategy Creation
2. Define the Strategy & Legs
- Choose Intraday or Positional type
- Define trade leg(s): e.g., Buy in Cash, Sell Futures, or Buy Option
- Set parameters:
- Quantity
- Stop Loss (%)
- Target (%)
At the end of this step, AlgoTest will generate Entry & Exit Webhook URLs.
3. Create a Chartink Scan
- Go to Chartink.com
- Click “Create Scan”
- Select your watchlist (e.g., All Cash Stocks, Nifty 200, Custom List)
- Define your condition (e.g., EMA 9 crossover EMA 26 on Daily timeframe)
- Save the scan
4. Create Entry Alert in Chartink
- Once the scan is saved > Create Alert
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Set trigger time (e.g., Market Open)
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Paste the Entry Webhook URL from AlgoTest
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Enable Duplicate Alerts if you want the strategy to trigger daily
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Save the alert
5. (Optional) Create Exit Alert
- Repeat the steps above
- Create a new scan with the opposite condition (e.g., EMA 9 cross below EMA 26)
- Use the Exit Webhook URL from AlgoTest in the alert
Forward Test vs Algo Trade
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Forward Test: Simulates trades in real-time with virtual capital. Use this to validate your strategy logic.
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Algo Trade: Executes real orders via your connected broker. Move your signal from Forward Test to Algo Trading when ready.
Broker Integration
AlgoTest supports 40+ brokers for algo trading. To start trading:
- Connect your broker from AlgoTest Settings
- Move the strategy to Algo Trading
- The next triggered alert will place a real order for the identified stock
Notes
- Strategies will only execute for stocks that have F&O enabled
- You can pause or resume listening to alerts anytime
- Each alert-triggered trade follows the logic defined in the strategy
Need Help?
If you have questions or face issues:
- Join our Telegram Community for live support
Watch the Tutorial
Check out our YouTube video walkthrough to see this setup in action.
Summary
| Feature | Description |
|---|---|
| Stock Source | Comes from Chartink alert payload |
| Strategy | Created once and reused across multiple stocks |
| Use Case | Ideal for large watchlists like Nifty 50, Nifty 200 |
| Execution | Cash, Futures, or Options |
| Brokers Supported | 40+ NSE brokers |