ORB Strategy Builder

[ArunRamModerator]

Supported broker

• Zerodha
• Upstox

Prerequisite

• Stock Trading Experience
• API Subscription from Zerodha or Upstox
• Hello Kite or Upstox installed

Download

This is a free tool available with our 10 year’s Bridge license. ORB Strategy Builder can be downloaded from here. Before running the Excel ORB Strategy Builder, please install latest Hello Kite or Hello Upstox as applicable from here.

Logic overview

Most of the Intraday strategy inherently follows range breakout principles, ORB is one of such famous principle. An opening range breakout (ORB) is a fairly simple strategy that involves taking a position when a price breaks above or below the open range high or low. This can be used for different time frames depending on your style and preference.

For better results, ORB could be used with other filters such as GAP, Previous Day High/Low, Volume etc.

Entry conditions

BUY : When price crosses above range high with applicable filters
SELL : On signal reverse, on hitting max loss/profit, on hitting target/stoploss, or square off time
SHORT :  When price crosses below range low with applicable filters
COVER : On signal reverse, on hitting max loss/profit, on hitting target/stoploss, or square off time

Strategy Builder (SB)

ORB strategy builder is built on MS Excel using exchange approved Trading API’s with multiple filters such as GAP, OHL etc. It is also equipped with advanced Risk Management with Cover Order. Support for NSE equity and also features Paper Trading and Journal to aid fine tuning the strategy. Watch here for ORB Strategy Builder in action.

Parameters

• TRADE MODE : PAPER|LIVE
• CAPITAL : Capital allotted for the strategy (STGY)
• RISK% ON CAPITAL : Risk per day for the strategy
• MAX POSITION : Maximum number of stocks to be traded
• SIGNAL MODE : LONG|SHORT|ANY|BOTH
• ORB TIME : Open range time in HH:mm:ss format, minimum 09:16:00
• TRADE END TIME :  No fresh entry signal will be taken after this time and also cancels if any entry signal order is OPEN
• SQOFF TIME : All open positions will be squared off, maximum 15:15:00
• REWARD : Target in terms of Risk*X
• TRAIL% STOPLOSS : Trail% for Stoploss price. Points to Trail = %applied * RiskPoints
• TRAIL% MAXLOSS (STGY) : Trail% for MaxLoss (Stgy). Profit to Trail = %applied * MaxLoss (Stgy)
• ORDER TYPE : MARKET|LIMIT
• LIMIT% : Applicable only for LIMIT orders. Places entry orders with Limit Price above or below trigger price (range high/low) to control slippages
• MAXLOSS (STGY) : Maximum loss allowed for this strategy. All open positions will be closed on hitting maximum loss
• MAXPROFIT (STGY) : Maximum profit allowed for this strategy. All open positions will be closed on hitting maximum profit
• STGY CODE : Unique strategy identifier, useful to run multiple strategies

• EXCH : NSE|NSE_EQ
• TRADE SYMBOL : As per API

Filters
There are multiple filters available for the users to choose from, you can use varies combination of this as well.

1. OHL : Open=High/Open=Low
This filter selects stocks where open equals to low for BUY or open equals to high for SHORT

2. PDHL : Previous Day High/Low
This filter selects stocks where open range high is higher than the previous day high for BUY and range low is lower than the previous day low for SHORT

3. PCTCHG : Minimum %change from Previous Close
This filter selects stocks where current %change is higher than the %applied from previous close  for BUY and vice versa for SHORT

4. AVGVOL : Comparing with Average Volume of 3 months (EOD)
This filter selects stocks where open range volume is more than the %applied * Average Volume (this filter available only for NSE top 200 stocks)

5. AVGRNG : Comparing with Average Range of 3 months (EOD)
This filter selects stocks where open range is less than the %applied * Average Range (this filter available only for NSE top 200 stocks)

6. GAP : Gap Up/Down
This filter selects stocks where Gap up is more than the %applied for BUY and Gap down for SHORT

Reversing Filters
It reverses the Filter conditions.

Example:
For Gap Filter
In Normal – You will get buy signal when Gap up + Range high Breakout occurs
In Reverse – You will get buy signal when Gap Down + Range high Breakout occurs

Position Status
Here you can monitor the overall status of your running strategy

• TOTAL MTM : Total profit and loss of the strategy
• TRAIL MAXLOSS : Trailed Maxloss
• HIGHEST MTM : Highest total profit and loss achieved
• LOWEST MTM : Lowest total profit and loss achieved
• TOTAL POSITIONS : Total stocks traded
• OPEN POSITIONS : Number of open positions
• CLOSED POSITIONS : Number of closed positions
• USER STATUS : Strategy activation status
• RECORD JOURNAL : Copies strategy details to Journal sheet for future analysis

Live Demo/Trial

Five days trial will be automatically activated on first run. Live demo is available on request. For appointment, mail to help@howutrade.in

Support

Check out our Knowledge Base and Video Tutorials  for setup and troubleshooting. One time free initial setup is available on request. Basic email support (limited to issues/bugs in the software) is available for free, all queries should be mailed to help@howutrade.in, we will respond within 2 working days. For all API related issues/queries, please contact your stock broker or visit API developer forum.

Disclaimer

The software developed by Howutrade are solely for informational & educational purposes only. All the software are used at your own risk. It should not be assumed that the methods, techniques or indicators presented in the software will be profitable or that they will not result in losses. Howutrade is not responsible for any losses incurred as a result of using any of the software. For all API compliance related queries, please contact your stock broker.

[akash]

how much return from this tool and how to backtesy

[Admin]

@akash
This is an execution tool, hence back-test is not possible, but you can do Paper Trade to check the performance and simulated profit & loss in live market. Profit/return is depends on your money management and discipline.

[DEEPAK]

Hi,
Can we add EMA cross over ,super trend ,and pivot levels.

[ArunRam]

We are going to release Levels Breakout excel in Few days, There you can input your Pivot formula,

you need VBA Expertise to include EMA cross over and Super trend

[Rajashekar]

Hi,

Already im having the algo trading excel (Coded by you), but its old one and
not having any filter in it. I would like to know how much you charge to get it updated
as new version. Thanks in advance

[avijit]

Can we code other strategy in the same sheet?

[Rajashekar]

If i take intraday positions manually will this excel square off open positions at 3.15pm?.

[arunram]

yup

[arunram]

you can make changes in excel formula up to some level ….for example you can add few more filters or trailing style …or changing stoploss logic etc…

[Tapan Kumar Saha]

Getting this message at the time of bridge login

{“status”:”error”,”message”:”missing parameter. name: api, help: open this page by clicking on RenewNow button in your application”,”timestamp”:”2019-08-07T14:54:38+05:30″}

[Arjun]

What’s the typical success rate of this strategy in Nifty50 Stocks?

[vijay kumar]

where to make payment

[Alistair Almeida]

Do you have the option to trade in FUT & what about stock universe, can it be limited to FNO stocks or say a custom list?
Also what about future additions/nodifications to this sheet? Would be get the future updates & how about the support on this?

[Srinivas]

How about the realtime data?
will it pick from kitebridge or is it possible to feed from external data vendor?