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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 500, 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 Nifty500 stocks. 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​

  • 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

  • Set trigger time (e.g., Market Open)

  • Paste the Entry Webhook URL from AlgoTest

  • Enable Duplicate Alerts if you want the strategy to trigger daily

  • 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​

  • Forward Test: Simulates trades in real-time with virtual capital. Use this to validate your strategy logic.

  • 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:

  1. Connect your broker from AlgoTest Settings
  2. Move the strategy to Algo Trading
  3. 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

Capital-Based Entry for MultiStocks​

Overview​

When creating strategies for MultiStocks from Chartink, you previously had to manually enter the quantity for each stock leg. This often caused inconsistencies across instruments with very different prices.

With this new feature, you can now specify capital per leg instead of quantity. The system will automatically calculate the correct quantity based on the stock’s Last Traded Price (LTP) at execution.

Use Case​

Suppose you want to allocate ₹25,000 each to HDFCBANK and ZOMATO:

  • Earlier: You had to calculate and enter the number of shares manually.
  • Now: You can directly input ₹25,000 as the capital, and the system will calculate and round the number of shares to buy/sell automatically.

This ensures consistency and makes strategy creation easier when working with multiple stocks at varying price levels.

How It Works​

Capital vs Quantity dropdown​

  • In the Leg Builder, you will see a dropdown to choose between Quantity and Capital.
  • Selecting Capital allows input of rupee amount per leg.

Dynamic Calculation​

  • At execution, the system calculates the number of shares as:
    Quantity = Capital ÷ LTP
  • The quantity is rounded to the nearest lower integer.

Applicability​

  • Works only for Cash Segments.
  • Not applicable for Futures and Options.

Example​

  • User selects Capital Mode.
  • Inputs ₹25,000 for HDFCBANK.
  • If HDFCBANK LTP is ₹1,500:
    • Quantity = 25,000 ÷ 1,500 = 16 shares.
  • The system places an order for 16 shares of HDFCBANK.

Below shows the updated Leg Builder UI showing the Qty / Capital dropdown:

Notes​

  • Applicable only in MultiStocks strategies from Chartink.
  • Execution quantities may vary slightly depending on LTP at the time of order.
  • If the capital entered is less than the LTP, the system will skip the leg.

Need Help?​

If you have questions or face issues:

Watch the Tutorial​

Check out our YouTube video walkthrough to see this setup in action.

Summary​

FeatureDescription
Stock SourceComes from Chartink alert payload
StrategyCreated once and reused across multiple stocks
Use CaseIdeal for large watchlists like Nifty 50, Nifty 500
ExecutionCash, Futures, or Options
Brokers Supported45+ NSE brokers