Trading with Algo could be a totally different experience especially if you are trading in options. The TradeRadar at Moneysukh offers unlimited interesting features that can make your Algo trading experience more interactive and seamless.

Integrated withadvanced features, Algo Trading is not only interactive but also provides various options to customize your strategies as per your trading style or market conditions. If you are using TradeRadar, you can optimise your algo-trading strategies with the features given in this Algo software that are discussed below.

Top 10 Features of Algo Trading in TradeRadar:

1.Instrument Settings

This feature allows the Algo users to select the right instrument or underlying security on which they want to test their strategy. From this section, you can select all the instruments or underlying indices that will be traded in the future and the options segment in India.

Using this feature, you can select major indices like Nifty, Banknifty, Finnifty, Midcapnifty, BSE Sensex and Bankex. While choosing the right instrument as per your trading strategy, you can also choose the reference of price or you can say between cash and futures.

2.Entry and Exit Timing

This feature in Algo trading software TradeRadar, allows you to set the timing of entering and exiting from your strategy. Using this feature, you can set the timing to enter or exit from the trade positions as per your predefined time set here.

Also Read: How to Start Algo Trading in Moneysukh: A Best Algo Trading Platform

You can set the time between the market hours, like between 9:15 AM and 3:30 PM to automate your trade position trading options. And while setting the time of entry and exit into trade you can also choose the type of trade like intraday, BTST and positional trade.

3.Leg Builder and Leg

This feature of Algo trading software in TradeRadar will allow you to create the leg in our strategy. Using this feature you can create legs from various segments like future and options. Here you can create the leg with the desired quantity in terms of lots and also select the buy or sell position as per your trading strategy.

Apart from this section also enables you to select theCALL or PUT for your legs with the facility to select the expiry of the contract from weekly, next weekly, and monthly expiry dates. This Leg builder feature also allows you to select your desired option strike based on the various option premium ranges like ATM, OTM, ITM etc. as per your option strategy.

4.Re-Entry on Stop-Loss or Target

This feature of the Algo test in TradeRadar enables the traders to re-enter a new position after stop-loss (SL) or when Target hits. However, the maximum limit to do re-entries is 20 for individual leg targets or stop-loss. This function is available for different options.

Apart from this,it also allows you to re-enter immediately after your stop-loss or target hit in a strike available at that time with the facility to re-enter in the original leg at the initial entry price. Apart from this, there are various choices to enable the entry or re-entry at various points of stop-loss and targets with an additional Lazy Leg feature to define conditions for re-entering trades, specifically Target or Stop-Loss strategies, by setting conditions directly related to individual legs of a trade.

5.Range Breakout

Range breakout is one of the unique features in Algo trading available with TradeRadar allowing you to enter or exit from your trade position with condition of low or high of a specific time range (defined by you) breaks.

Also Read: How to Use Traderadar for Option Strategies as Market Conditions

Don’t worry,your entry trade position will be not executed if the given range doesn't break. Using the additional feature of “range breakout on instrument and underlying” in this section you enter into a trade when the high or low of the range crosses based on an option strike and when the high or low of the range based on Index Price is broken respectively.

6.Stop-Loss Based on Range Breakout

This is another interesting feature allowing the users to set the stop-loss based on the high-low range as defined by you in the range breakout. However, this feature will work only when you have enabled the range breakout feature.

However, this section has an additional feature to set your SL based on ORB Range in points but only applicable when the Range Breakout feature is enabled for entry.

7.Overall Strategy Settings

This feature in Algo trading is specially designed and developed for applying your overall strategy like setting the overall stop loss with various terms and conditions. Using this section you can set overall stop loss in MTM or in terms of percentage on total premium value or re-enter in a position after an overall Stop Loss is hit. Similarly, you can apply more conditions like re-entering or in reverse position in a new strike price when SL hits.

Just like creating the conditions as per the SL hits, you can also set an overall target on strategy with different conditions like MTM or Percentage of Premium. You can also enable the Re-Entry on Target in a new strike when the target is achieved or reverse position with the strike price when your overall Target hits. You can also set these conditions on momentums of underlying.

8.Entry by Exact Strike

This is another unique feature in Algo trading also integrated into TradeRadar allowing you to choose a specific strike price when setting up a trading strategy. It means when you enable this feature and set your conditions like executing your trade when a particular underlying index with a specific strike price of a specific period expiry.

Also Read: What Is A Simulator In Algo Trading? Benefits & Top Features

You just need to set all the desired conditions to execute the trade when your entry point meets all the conditions as per your trading strategy.

9.Margin Estimate in Algo Trading

To enter any trade position in option trading you need a certain margin, especially when your strategy contains selling of options. If your margin is not sufficient, your order will be rejected resulting in your Algo trading strategy will be not applied here.

Hence, this “MarginEstimate” feature enables you to proactively check the margin required to execute your trading strategy. To enable this feature you just need to click on start by creating and backtesting the strategy for which you want to understand margin requirements.

Also Read: How to Backtest a Trading Strategy in Algo: Backtesting Guidance

10.Other Features in TradeRadar

Apart from these top features, there are additional features called “Folders on AlgoTest” that keep and organise your strategies in a particular folder by giving a unique name to each folder. Here you can also find the HeatMap Featureto visualise profit and loss (P&L) trends for options strategies.

Using this feature, you can immediately recognize the patterns over different periods, gaining insights into which strategies have performed well or underperformed in the market. Furthermore, to keep the Algo users well-informed and updated with all the terminologies used here in the Algo trading, especially in the AlgoTest or TradeRadaralgo trading software, it has a section called “Frequently Used Terms” to simply the meaning of such jargons.

Summing-up

Algo Trading software nowadays is integrated with most advance features, so that you can customize your option strategy with different conditions. AlgoTest is one of the leading algorithms-based trading software now available through various fully customised applications especially designed and developed for option trading with unlimited features.

Also Read: Algo or Manual Trading Which one is better for the Option Market

At Moneysukh you can utilize these functions through TradeRadar, the most advanced and fully customized Algo trading application. This Algo trading software will make your Algo trading experience not only seamless but also successful with the facility to deploy complex levels of strategies within a few minutes. So what are you waiting for, automate your trading responsibilities with TradeRadar with better efficiency and accuracy at more affordable costs.