Tradelab - PI HELP
Tradelab - PI HELP
A NEW FRONTIER
IN FINANCIAL TECHNOLOGY
PI HELP
Introduction
Pi is the front-end application that allows a trader to perform several trading functions that include:
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Pi allows the end user to trade through a single account id. Few key features that can be useful to
any user are given in this document.
Login
Two Factor Authentication login process is used to verify the authentication of the valid user while
logging in. Two Factor Authentication process is implemented through 2FA Question and Answer.
Step 1: After installing Pi on system, an icon named Pi will be placed on the desktop. One has to just
double-click on the icon to start the application. After the application starts, a login window will show
up asking for Client Id and Password. When users open his/her trading account with Zerodha, user
gets a Client Id and two passwords (one each for login and transaction). Enter the Client-Id and on
successful authentication of client id the user will be able to enter the password. After entering login
password, hit Login.
Password: The corresponding password for the user name must be entered.
Forgot Password: This can be used when user forgets his/her password.
Change Password: This option can be used to change the existing password to new one.
Login: The user has to simply click on the ‘Login’ button or press ‘Enter’ on his keyboard, after
entering relevant log in details on his terminal.
Step 2: After entering the password user has to click on Login, user will be directed to the 2FA
security questions window. System will provide the random questions to user which user has
answered when he/she is logging in for the rst time. User has to answer 2 questions correctly to
login successfully into Pi.
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Answer the question appeared in 2FA security question window and press OK to login.
Forgot Password
If a user click on forgot password, the below showed window opens and one can give his/her client
ID, E-mail, PAN details and can generate new password to his registered E-mail ID.
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Market Watch is one of the most commonly accessed features in any trading application. The user
can do following things using a market watch.
Set up a portfolio of scrips of their choice in the order he/she wants to appear.
One can view any relevant information pertaining to any scrip/contract by setting up the columns in
the desired sequence. This can be done from the list of available columns.
The trader can select columns based on his choice.
The user can call other functions like the Order entry window, SnapQuote (market depth window),
Pending order window, Net position window and Tradebook for the scrip when one has selected
from the market watch. This is done by pressing the key strokes assigned to that particular function.
To organize the scrips, drag and drop any rows. The user can sort the scrips in ascending or
descending order by a click on the top of the column, which the user wants to treat as the parameter
to sort the market watch.
User can call few important features from the market watch by just a right click. Few features that
can be called from market watch include various order placing windows, Order book, Trade book,
scrip properties, SnapQuote, positions and holdings.
To remove any scrip, right click and select ‘Delete’ or hit Delete Button.
The Market Watch toolbar appears at the top. To add scrip, select a speci c instrument through the
given lters and click on ‘Add’ button.
User can open Intra-day chart for any scrip by double clicking on the chart column.
While logging out of the application, Pi will ask user to save market watch, user can click on save or
user can change the settings by un-checking the saving market watch on exit in Market Watch tab in
User Settings, it’ll automatically save the market watch while exiting Pi and the same market watch
will be opened for him/her for next login time.
You can use MarketWatch toolbar to open Order book, Trade book, Admin position, Cash Position,
Stock Holdings, Chart drawings. You can open a chart, save your workspace or load previously saved
workspace. You can also open Alerts window.
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Script Details
Shortcut: ShiftMarket
+ F7
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The user can call this window by pressing shift+F7 for any of the scrip added in market watch after
selecting it. It provides the basic information about the selected scrip. The information also includes
board lot quantity, freeze quantity, tick size, Price unit, Exchange, Series, etc.
Pi got some pre-de ned product tags which include Normal (NRML), Cash and Carry (CNC), Margin
Intraday Square-Off (MIS).
At the time of order placement the user can select the appropriate product under which the order has
to be placed. This feature is not only useful from RMS and Compliance point of view but also from
MIS reporting point, it is of great signi cance.
SnapQuote(Market Depth)
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The user can call the SnapQuote window for the selected scrip by pressing F6, by double clicking on
the selected scrip or from the Quick order window in charts. The window gives the complete shot of
the way the scrip is performing in the market on the day as well as at that particular point of time.
The information like open, high, low, previous day close gives an indication how the scrip fared on
that particular day and the top ve bid/ask gives the indication about what kind of liquidity that scrip
has in the market and at what price levels. This information will give better picture about the scrip to
the user before taking position in that particular scrip.
User can also Compact SnapQuote, for this, select Compact SnapQuote from user settings.
After selecting Compact SnapQuote from user settings, SnapQuote will look like this:
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Charts
Shortcut: Shift + C
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To load a chart,
Features Charts Menu Orders Positions
click the chart button on the MarketWatch toolbar or can use
shortcut keys
or by
Transfer Tools
right clicking on a selected scrip and click on Chart.
Note: Intraday Charts can also be open by double clicking on charts columns for particular scrip.
A chart settings screen will display. Here you specify the Symbol, Chart Periodicity, Bar Interval, and
Bar History. Click the OK button to load the chart. By Default the selected Symbol in MarketWatch tab
is populated. Always use upto 60 days for the optimum performance.
By default a two-dimensional candle chart will display. You may change the candle style to Three-
dimensional candles, open-high-low bars, or a number of other price styles listed in the Price Style
drop down menu.
Technical indicators may be added to the chart via the Technical Analysis menu. Simply select a
technical indicator then click on the chart. Note that if user opened multiple charts at the same time,
he/she must click on a chart to select it prior to selecting a technical indicator.
If multiple charts are shown on the same screen, a selection border will be drawn around the
selected chart. It can see in the image below, a blue selection border has been drawn around the
lower chart area, which is currently selected. Selection border drawn around the selected chart can
be decided according to the Pi themes. For Zerodha theme, selection border color is white.
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Once a technical indicator has been added to the chart, user may edit the indicator’s properties by
rst left clicking on the indicator or by double clicking on the indicator, then right clicking and
selecting “Edit Series”. The indicator property dialog will display, where user can change indicator
parameters and colors.
User can drag and drop series from one area of the chart to another. To do so, simply click the series
and then drag it into another area (such as on top of the price bars).
user can also resize chart panels. Simply click near the borders and drag the panel either up or down.
To navigate the chart, click the zoom in, zoom out, scroll left and scroll right buttons located on the
chart toolbar. Note that a chart can only be scrolled after user zoomed in to a certain degree.
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Pi also allows you to apply templates to charts so that your favorite indicators and colors can be
applied at once. Simply click the “Apply Template” button on the toolbar or select the Chart, Apply
Chart Template menu. Note that the chart must have a volume series in order for this feature to
work.
Delete All Drawings button can remove all the drawing objects in one click from the selected chart.
Trend lines, Gann fans, Error channels and other line studies can be added via the “Chart Tools”
menu in the main menu. It could also be selected from Insert drawing Tools from Right click menu in
the chart.
Main Menu
User can also add buy, sell, exit symbols, text objects, and other objects via the “Chart Tools” menu.
These objects may be placed anywhere on the chart and may be repositioned or removed by a left
click.
Day Separator: User can use this feature on charts by selecting Day Separator in right click menu in
charts. This feature will separate all the candles day wise from starting of the trading day to the end
of the day. This feature is available for Candle and Bar charts only.
Pivot Points: User can use this feature on charts by selecting Pivot Points in right click menu in
charts. This feature is not available for BSE exchange. Pivot Point is a price level that is used by
traders as a possible indicator of market movement. A Pivot Point is calculated as an average of
signi cant prices (high, low and close) from the performance of a market in the prior trading period.
Data Box: User can use this feature on charts by selecting Data Box in right click menu in charts. This
box will show OHLCV values by moving the mouse over all the candles and values of Indicators
added on charts. Data Box makes it easy for user to see the OHLCV and indicators values.
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Cross Hair: User can use this feature on charts by selecting Cross Hair in right click menu in charts.
While the crosshair mode is in use, traders can move the crosshair over any price bar, or any part of a
price bar, and the corresponding time and price values will be readily identi able. Crosshair mode
makes it easyMarket
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high or low, and the time and day that the bar printed. Arti cial
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Home key: User
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can use Home key from keyboard to see rst 100 candlesTransfer
of the chart opened.
Tools
End Key: User can use End key from keyboard to see last 100 candles of the chart opened.
Loading of chart could be accessed from the le menu in Main menu. The Charts loaded from disk
will be Live.
Note: If internet connection is not stable or disconnecting frequently, candles in saved chart will be
missing or there will be some missing data in Charts loaded from disk.
Charts can be saved and loaded back into Pi using Load Chart from Disk menu in File Menu. Save
Chart saves the le on the Disk.
Save Chart as image saves the charts as snapshot. Also Chart Template could be saved for later
applying on charts to do similar technical study on all the charts.
Chart Trading
Shortcut: Ctrl + Q
Limit Orders could be placed through Quick Order sticker placed in top left corner of the chart. Buy
and sell button are shown by Green and Red Color respectively showing the best available for selling
and buying. It’s a movable sticker and could be placed according to convenience. Also it could be
disabled if the user does not want to see it, by pressing Ctrl + Q or by un-checking View Quick Order
in View menu.
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A con rmation message for submit order comes showing the details of the order. Once Submit
button is clicked or Enter key is pressed the order is send.
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You can trade from
any chart by right clicking and selecting “Buy Here” or “Sell Here”.
Please note that only Limit and Stop Loss Market Order type is supported.
When you place a Buy order on a chart if price related to cursor position is above the Close price of
last candle then it would select SL-M order type and if it is below it will put a Limit order type.
Similarly, if you Place a Sell Order on the chart, if price related to cursor position is above the Close
price of last candle then the order type selected would be Limit and if price is below Close price of
last candle the order type selected would be SL-M.
WARNING! When using this feature be SURE to create your trigger line ABOVE or BELOW the candle
and not INSIDE the candle. By placing your trigger line INSIDE a candle, your order will be triggered
even though the candle may not have penetrated from the reverse side.
Do not attempt to use this feature with price styles other than candlestick or OHLC bars.
Chart Types
Bar Chart
This chart type is the most common way to display data for analysis. Open, high, low, and close
prices are shown for the time increment represented by the bar.
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Candle Chart
This chart type uses the same price data as regular bar charts, with each candlestick representing
the open, high,Market
low, and close. The thick part, called the real body, represents the range between
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opening and closing
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Watch prices. LongIndicators
Charts
thin lines, Menu
shadows
and wicks/tails,
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represent
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movement for the bar.
Candle Volume
As its name implies, Candle Volume charts merge volume into candlesticks. This allows chartists to
analyze both price action and volume with one look at the price chart. It shows candle ticks are used
to see the open and close for each period, as well as the high and the low.
Equi Volume
Equi Volume is a price plot that incorporates volume into each period. Equi Volume charts looks
similar to candlestick charts, but the candle ticks are replaced with Equi Volume boxes that can be
square or rectangle.
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Equi volume Shadow measures the relationship between price, volume and the shadow. Price is
measured on the vertical axis and volume is measured on the horizontal axis. Equi volume combines
price and volume in a two-dimensional box. The top line of the box is the high for the period and the
bottom line is the low for the period. The width of the box represents the volume for the period. The
shadow (empty region in the box) is based on the difference between open and either high or low
depending on whether the price closed lower than the open of higher than the open for that interval
bar.
Heikin Ashi
Heiken-Ashi means “average bar” in Japanese. Open, High, Low and Close prices of HA candle ticks
are not actual prices, they are results from averaging values of the previous bar, which helps
eliminate random volatility.
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Kagi
This chart type looks like a continuous line that changes directions and switches from thin to bold.
The direction changes when the price changes beyond a prede ned amount, and the line switches
between thin and bold if the last change bypassed the last horizontal line.
This chart type only plots price movements, without taking time into consideration. A column of X’s
is plotted as the price rises—and O’s as the price drops.
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Renko
This chart type only plots price movements, without taking time or volume into consideration. It is
constructed from ticks and looks like bricks stacked in adjacent columns. A new brick is drawn after
the price passes the top or bottom of previously prede ned amount.
This chart type only plots price movements, without taking time or volume into consideration. This
chart type displays a series of vertical boxes that are based on price changes.
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Technical Indicators
There are 80 popular technical indicators provided with Pi. These technical indicators help user to
analyze the charts.
The Simple Moving Average is simply an average of values over a speci ed period of time. A Moving
Average is most often used to average values for a smoother representation of the underlying price
or indicator.
A Time Series Moving Average is similar to a Simple Moving Average, except that values are derived
from linear regression forecast values instead of raw values.
The Triangular Moving Average is similar to a Simple Moving Average, except that more weight is
given to the price in the middle of the moving average periods.
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VIDYA (Volatility Index Dynamic Average), developed by Chande, is a moving average derived from
linear regression R2. As VIDYA is a derivative of linear regression, it quickly adapts to volatility.
A Weighted Moving Average places more weight on recent values and less weight on older values.
Williams %R
Williams’ %R measures overbought/oversold levels. The most widely used method for interpreting
Williams’ %R is to buy when the indicator rises above 80 or sell when the indicator falls below 20.
The Accumulation/Distribution indicator shows a relationship of price and volume. When the
indicator is rising, the security is said to be accumulating. Conversely, when the indicator is falling,
the security is said to being distributing. Prices may reverse when the indicator converges with price.
Volume Oscillator
The Volume Oscillator shows a spread of two different moving averages of Volume over a speci ed
period of time. The Volume Oscillator offers a clear view of whether or not Volume is increasing or
decreasing.
The Vertical Horizontal Filter (VHF) identi es whether a market is in a trending or choppy movement
phase. The VHF indicator is most commonly used as an indicator of market volatility. It is also
frequently used as a component for other technical indicators.
Ultimate Oscillator
The Ultimate Oscillator compares prices with three oscillators, using three different periods for
calculations. The most popular interpretation of the Ultimate Oscillator is price/indicator divergence.
True Range
The Average True Range (Wilder) measures market volatility. High ATR values may signal market
bottoms, and low ATR values may signal neutral markets.
TRIX
TRIX is a momentum oscillator that shows the rate of change of an exponentially averaged closing
price. The most common interpretation of the TRIX oscillator is to buy when the oscillator rises and
sell when the oscillator falls. 3, 8 and 14 period moving averages are often used to smooth the TRIX
oscillator.
Rainbow Oscillator
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repetitive smoothing, the result obtained is a full spectrum of trends, which plotted on a chart with
continuous colors, have the appearance of a rainbow. The Rainbow Oscillator Indicator is, like the
Rainbow Charts, an indicator used to follow trends and its graph is plotted based on the same
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calculations made Charts. The oscillator is a derivative from a consensus of
Technical thecial
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Rainbow Charts
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trends, de ning the highest high value and lowest low value among Tools
Transfer thosemoving
averages, and creates an oscillator and bandwidth lines according to those calculations.
Price Oscillator
The Price Oscillator shows a spread of two moving averages. The Price Oscillator is basically a
moving average spread. Buying usually occurs when the oscillator rises, and conversely, selling
usually occurs when the oscillator falls
Parabolic SAR
Parabolic SAR (SAR) is a time and price technical analysis tool primarily used to identify points of
potential stops and reverses. In fact, the SAR in Parabolic SAR stands for "Stop and Reverse". The
indicator's calculations create a parabola which is located below price during a Bullish trend and
above Price during a Bearish Trend.
Momentum Oscillator
The momentum indicator calculates change of over a speci ed length of time as a ratio. Increasingly
high values of the momentum oscillator may indicate that prices are trending strongly upwards. The
momentum oscillator is closely related to MACD and Price Rate of Change (ROC).
MACD
The MACD is a moving average oscillator that shows potential overbought/oversold phases of
market uctuation. The MACD is a calculation of two moving averages of the underlying
price/indicator. Buy/Sell interpretations may be derived from crossovers (calculated from the
SignalPeriods argument), overbought/oversold levels of the MACD and divergences between MACD
and actual price.
Ease of Movement
The Ease of Movement oscillator shows a unique relationship between price change and volume.
The Ease of Movement oscillator rises when prices are trending upwards under low volume, and
likewise, the Ease of Movement oscillator falls when prices are trending downwards under low
volume.
Negative directional indicator (DI-): Negative directional indicator (DI-) is component of average
directional index (ADX). If DI- is sloping forward, it is signal that downtrend is increasing.
Positive directional indicator (DI+): Positive directional indicator (DI+) is component of average
directional index (ADX). If DI+ is sloping upward, it is signal that uptrend is increasing.
Average directional index (ADX): Average Directional Index (ADX) was created by J. Welles Wilder as
indicator of trend strength.
The Detrend Price Oscillator is used when long-term trends or outliers must be removed from prices
or index indicators. This indicator is often used to supplement a standard price chart. Other
indicators can be plotted over the Detrended Price Oscillator.
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The Chande Momentum Oscillator (Chande) is an advanced momentum oscillator derived from
linear regression. Increasingly high values of CMO may indicate that prices are trending strongly
Market
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upwards. Conversely,
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Charts low values of CMO
Menu may indicate
Orders thatprices
Positions
are trending
Funds Chart strongly
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downwards. CMO is related to MACD and Price Rate of Change (ROC).
Chaikin Volatility
Aroon
Aroon Oscillator
The Aroon Oscillator, the positive value shows a coming or an upward trend, and the negative value
indicates a downward trend. When the absolute value of an oscillator becomes higher, an indication
of a trend is also getting stronger.
Linear Regression
Linear regression is a common statistical method used to forecast values using least squares t.
The result for Linear Regression has four Field objects: “R-Squared”, “Forecast”, “Slope” and
“Intercept”. Where R-Squared is the coe cient of determination, Forecast is the linear regression
forecasted value for the next period, Slope is the slope value for the periods being analyzed and
Intercept is the end period’s Y intercept value.
The Price and Volume Trend index is closely related to the On Balance Volume index. The Price and
Volume Trend index generally precedes actual price movements. The premise is that well-informed
investors are buying when the index rises and uninformed investors are buying when the index falls.
Performance Index
Commodity Channel Index (CCI) is a versatile indicator that can be used to identify a new trend or
warn of extreme conditions. Lambert originally developed CCI to identify cyclical turns in
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commodities, but the indicator can successfully applied to indices, ETFs, stocks and other securities.
In general, CCI measures the current price level relative to an average price level over a given period
of time. CCI is relatively high when prices are far above their average. CCI is relatively low when
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prices are far below In this manner, CCI can be used to identify overbought and Arti cial
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oversold levels.
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Chaikin Money Flow
Developed by Marc Chaikin, Chaikin Money Flow measures the amount of Money Flow Volume over
a speci c period. Money Flow Volume forms the basis for the Accumulation Distribution Line.
Instead of a cumulative total of Money Flow Volume, Chaikin Money Flow simply sums Money Flow
Volume for a speci c look-back period, typically 20 or 21 days. The resulting indicator uctuates
above/below the zero line just like an oscillator. Chartists weigh the balance of buying or selling
pressure with the absolute level of Chaikin Money Flow. Chartists can also look for crosses above or
below the zero line to identify changes on money ow.
Weighted Close
The Weighted Close indicator is simply an average of each day's price. It gets its name from the fact
that extra weight is given to the closing price. The Median Price and Typical Price are similar
indicators.
Volume ROC
The Volume Rate of Change indicator shows clearly whether or not volume is trending in one
direction or another. Sharp Volume ROC increases may signal price breakouts.
Typical Price
A Typical Price is simply an average of one period’s high, low and close values. A Typical Price is
often used as an alternative way of viewing price action, and also as a component for calculating
other indicators.
Standard Deviation
Standard Deviation is a common statistical calculation that measures volatility. Other technical
indicators are often calculated using Standard Deviation. Major highs and lows often accompany
extreme volatility. High values of Standard Deviation indicate that the price or indicator is more
volatile than usual.
Price ROC
The Price ROC shows the difference between the current price and the price one or more periods in
the past. A 12-day Price ROC is most often used as an overbought/oversold indicator.
Median Price
A Median Price is simply an average of one period’s high and low values. A Median Price is often
used as an alternative way of viewing price action, and also as a component for calculating other
indicators.
Bollinger Bands
Bollinger Bands are similar in comparison to moving average envelopes. Bollinger Bands are
calculated using standard deviations instead of shifting bands by a xed percentage. Bollinger Bands
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(as with most bands) can be imposed over an actual price or another indicator. When prices rise
above the upper band or fall below the lower band, a change in direction may occur when the price
penetrates the band after a small reversal from the opposite direction.
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Fractal Chaos
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Fractal Chaos Bands Indicator helps us to identify whether the stock market is trending or not. When
a market is trending, the bands will have a slope and if market is not trending the bands will atten
out. As the slope of the bands decreases, it signi es that the market is choppy, insecure and variable.
As the graph becomes more and more abrupt, be it going up or down, the signi cance is that the
market becomes trendy, or stable. Fractal Chaos Bands Indicator is used similarly to other bands-
indicator (Bollinger bands for instance), offering trading opportunities when price moves above or
under the fractal lines.
High/Low Bands
High Low Bands consist of triangular moving averages calculated from the underling price, shifted
up and down by a xed percentage, and include a median value. When prices rise above the upper
band or fall below the lower band, a change in direction may occur when the price penetrates the
band after a small reversal from the opposite direction.
Moving Average Envelopes consist of moving averages calculated from the underling price, shifted
up and down by a xed percentage. Moving Average Envelopes (or trading bands) can be imposed
over an actual price or another indicator. When prices rise above the upper band or fall below the
lower band, a change in direction may occur when the price penetrates the band after a small
reversal from the opposite direction.
Swing Index
The Swing Index (Wilder) is a popular indicator that shows comparative price strength within a single
security by comparing the current open, high, low and close prices with previous prices. The Swing
Index is a component of the Accumulative Swing Index.
The Accumulative Swing Index (Wilder) is a cumulative total of the Swing Index. The Accumulative
Swing Index may be analyzed using technical indicators, line studies, and chart patterns, as an
alternative view of price action.
Comparative RSI
The Comparative Relative Strength index divides one price eld by another price eld. The base
security is outperforming the other security when the Comparative RSI is trending upwards.
Mass Index
The Mass Index identi es price changes by indexing the narrowing and widening change between
high and low prices. According to the inventor of the Mass Index, reversals may occur when a 25-
period Mass Index rises above 27 or falls below 26.5.
The Money Flow Index measures money ow of a security, using volume and price for calculations.
Market bottom below 20 and top above 80. Divergence of price and Money Flow Index are also used.
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The Negative Volume Index shows focus on periods when volume decreases from the previous
period. The interpretation of the Negative Volume Index is that well-informed investors are buying
when the index falls and uninformed investors are buying when the index rises.
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On Balance Volume
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The On Balance Volume indicator shows a relationship of price and volume as a momentum index.
On Balance Volume index generally precedes actual price movements. The premise is that well-
informed investors are buying when the index rises and uninformed investors are buying when the
index falls.
The Positive Volume Index shows focus on periods when volume increases from the previous period.
The interpretation of the Positive Volume Index is that many investors are buying when the index
rises, and selling when the index falls.
The RSI (Wilder) is a popular indicator that shows comparative price strength within a single security.
9, 14 and 25 period RSI calculations are most popular. The most widely used method for interpreting
the RSI is price/RSI divergence, support/resistance levels and RSI chart formations.
The Trade Volume index shows whether a security is being accumulated or distribute (similar to the
Accumulation/Distribution index). When the indicator is rising, the security is said to be
accumulating. Conversely, when the indicator is falling, the security is said to being distributing.
Prices may reverse when the indicator converges with price.
Stochastic Oscillator
The Stochastic Oscillator is a popular indicator that shows where a security’s price has closed in
proportion to its closing price range over a speci ed period of time. The Stochastic Oscillator has
two components: %K and %D. %K is most often displayed as a solid line and %D is often shown as a
dotted line. The most widely used method for interpreting the Stochastic Oscillator is to buy when
either component rises above 80 or sell when either component falls below 20. Another way to
interpret the Stochastic Oscillator is to buy when %K rises above %D, and conversely, sell when %K
falls below %D.
When looking at price movement charts, if the time scale is not given, sometimes it’s very hard to
determine whether the bars in the chart are referring to hours, days or months. The chart always
looks exactly the same regardless of its time resolution, with the only difference being the size. To
examine these patterns the Fractal Chaos Oscillator can be used to determine what is happening in
the current level of resolution. Fractal Chaos Oscillator is a great indicator to use in intra-day trading.
This indicator nds the nearest prime number from either the top or bottom of the series, and plots
the difference between that prime number and the series itself. This indicator can be used to spot
market turning points. When the oscillator remains at the same high point for two consecutive
periods in the Market
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consecutive periods
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Prime Number Bands
This indicator nds the nearest prime number for the high and low, and plots the two series as
bands. This indicator can be used to spot market-trading ranges.
Historical Volatility
“Volatility” is an important term used in the stock markets and by many market professionals. Many
investors use this term to manage their risk. “Volatility”, in simpler terms, means the uctuation in a
stock’s or any other underlying price, over a speci c period of time. Volatility is divided in to two
categories. The rst one is “Historical volatility” and the other one is “Implied volatility”. “Historical
volatility” is de ned as the historical uctuation in a particular underlying price, whereas “Implied
volatility” is the estimation of volatility in an asset’s price. Generally, “Implied volatility” nds extensive
use in “Options”.
Understanding “Historical volatility” is important for many investors as well as traders. For investors,
this term is important, because it helps in estimating or calculating their risk. Traders, generally use
“Historical volatility” to know how volatile a stock or an index will be in the future.
MACD Histogram
MACD Histogram measures the distance between MACD and its signal line (the 9-day EMA of
MACD). Like MACD, the MACD-Histogram is also an oscillator that uctuates above and below the
zero line. It anticipates signal line crossovers in MACD. Because MACD uses moving averages and
moving averages lag price, signal line crossovers can come late and affect the reward-to-risk ratio of
a trade. Bullish or bearish divergences in the MACD-Histogram can alert chartists to an imminent
signal line crossover in MACD.
Elder Ray Bull Power uses a 13-day exponential moving average (EMA) to indicate the consensus
market value.
Bear Power is derived by subtracting the 13-day EMA from the day’s low. Where a currency
downtrend is sustained to the point that minimum prices move below the EMA the Bear Power
histogram will be less than zero. As price minimums accelerate to lower levels (below the EMA)
during the falling trend histogram bars will increase in height below the zero line showing increased
selling strength during the period.
Elder's Force Index (EFI) measures the power behind a price movement using price and volume. The
indicator can also be used to identify potential reversals and price corrections. The EFI is an
oscillator that uctuates between positive and negative values, above and below a Zero line.
Elder thermometer
The Market Thermometer translates market activity into a "hot" and "cold" histogram for better
visualization.
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It was designed to identify major price reversals with its rapid response time and sharp, clear turning
points. The assumption
Market
is that prices do not have a Gaussian probability density function (bell-
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shaped curve movement),
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normalizing price
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create a nearly Gaussian
curve.
Keltner Channel
The Keltner Channel is a moving average band indicator who’s upper and lower bands adapt to
changes in volatility by using the average true range. The Keltner Channel is used to signal price
breakouts, show trend, and give overbought and oversold readings.
Market Facilitation Index Technical Indicator (MFI) is the indicator which shows the change of price
for one tick. Absolute values of the indicator do not mean anything as they are, only indicator
changes have sense.
The Schaff Trend Cycle Indicator is the product of combining Slow Stochastics and the Moving
Average Convergence/Divergence (MACD). The MACD has a reputation to be a trend indicator, yet it
has an equal reputation to be lagging due to its slow responsive signal line. The improved signal line
gives the STC its relevance as an early warning sign to detect currency trends.
QStick
STARC
STARC bands (Stoller Average Range Channels) are three bands forming a channel around simple
moving average.
The indicator is similar to Bollinger Bands; STARC bands are narrowing on the at markets and
widening on the volatile markets. However, STARC bands do not measure the highness and lowness
of the price and do not take into account standard deviation as Bollinger Bands. It is calculated by
means of Average True Range (ATR) providing more detailed information on market volatility. Using
STARC bands period 10 is an optimum parameter for ATR.
This indicator has two functions. First, it is used as a signal which recommends opening buy or sell
deals when the price crosses the boarders of STARC bands. In this case one should wait till the price
consolidates above or under the STARC bands and stop loss should be placed after the median line.
Second, STARC indicator can be used as an indicator whether the price is oversold or overbought. In
order to do it index K should be moved from 3 to 1.33. In this case test of the price of STARC bands
means the price has reached extreme values; the probability of price swing is very high. This signal
should be accompanied by signals of oscillators pointing out oversold/overbought areas (for
example, RSI indicator).
Center of Gravity
The Center of Gravity is an oscillator developed by John Ehler and presented in Stocks &
Commodities magazine (05.2002). This oscillator produces almost zero lag indicating the pivot
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points with the precise accuracy. The indicator was the result of studies of adaptive lters.
Coppock Curve
The oscillator is above the zero point if the forecast price is higher than the current price. On the
contrary, if it is below it turns out to be less than zero. When the forecast price and the current price
are equal, the oscillator makes a zero. Current prices that are constantly over the forecast price
suggest higher prices ahead and prices that are constantly under the forecast price suggest lower
prices ahead.
Random Walk
The basis of Random Walk Indicator is a theory of the shortest path from one point to another.
In case the prices stay too far from the line traced for a period, then the movement e ciency is
considered to be minimal. Highly random movement creates considerably uctuating RWI.
The number of periods, recommended by effective RWI applying is from 2 to 7 for the short term,
whether the long- term requires from 8 to 64 periods. It is done to show the short- term uctuations
and long term trends. RWI peaks in the short term indicate with the price highs, whether its bottom
describes price decline.
The IMI (intraday momentum index) is a ratio of the total magnitude of the up day candle bodies to
the total magnitude of the down day candle bodies over the past x-days. An up day candle body is
white and is the close minus the open for a particular day. A down day candle body is black and is
the open minus the close for a particular day. So if you see a lot of consecutive long white candle
bodies and only a few short black body candle bodies on a stock chart then the IMI will be high
(perhaps near 100%). The 'imi' indicator is used in indicator formula construction to narrow the stock
pre-screener results to include only those stocks that have an imi restricted to the parameters set for
the imi indicator.
A technical indicator developed by Stephen Klinger that is used to determine long-term trends of
money ow while remaining sensitive enough to short-term uctuations to enable a trader to predict
short-term reversals. This indicator compares the volume owing in and out of a security to price
movement, and it is then turned into an oscillator.
The Pretty Good Oscillator measures the distance of the current close from its N-day simple moving
average, expressed in terms of an average true range over a similar period.
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RAVI indicator, developed by Tushar Chande, can be used to identify whether the market is trending.
It calculates the percentage difference between current prices and older prices. Current prices are
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recommends the following information lines for the indicator: plus-minus 0.3% or 0.1% (depending
on the market).
The main idea behind the TMF indicator is to evaluate volume (money ow) as bullish or as bearish
based on a close price location. Chaikin Money Flow uses CLV (Close Location Value) to do it. Twigs
Money Flow, on the other hand, uses TR (True Range). Another main difference is that CMF uses
cumulative volume (sum of volumes over speci ed period) and the TMF applies Moving average to
the volume.
Menu
The Main menu has all the controls to access options in PI.
File
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File menu
Load Workspace
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Load Workspace loads a workspace into Pi from Workspace folder saved in Zerodha/Pi folder by
default, if Workspace folder is not saved or created, Pi will create a new folder named Workspace.
Workspace consists of Symbols added in market watch and charts. By default it will load the default
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workspace givenMarket
with the application while starting Pi.
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Save Workspace
Save Workspace allow the user to save their symbol list and charts to Workspace folder saved in
Zerodha/Pi folder by default, if Workspace folder is not saved or created, Pi will create a new folder
named Workspace. User could save the workspace and save it on the disk. The user could load
workspace to use the saved workspace.
It allow user to open prede ned workspaces related to NSE/BSE exchanges. There are several
prede ned workspaces in Pi:
For NSE:
Nifty 50(earlier known as CNX Nifty)
Nifty Auto
Nifty Bank(earlier known as Bank Nifty)
Nifty Energy
Nifty FMCG
Nifty Infrastructure
Nifty IT
Nifty Metal
Nifty MidCap 50
Nifty Next 50(earlier known as Nifty Jr)
Nifty Pharma
Nifty Realty
For BSE:
BSE Auto
BSE FMC
BSE IT
BSE Metal
BSE Oil and Gas
BSE Power
BSE Realty
These prede ned workspaces will be available to user according the exchange he/she is subscribed
to.
Load Chart from Disk helps user to load the saved chart back into Pi from Charts folder saved in
Zerodha/Pi folder by default, if Charts folder is not saved or created, Pi will create a new folder
named Charts. The user can do technical analysis and other studies on the chart. The saved charts
loaded from disk will be live.
Find Symbol
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Change Password
Change Password helps user to change his/her Login password and Transaction password.
Lock Pi
Lock Pi helps user to lock his/her current session in Pi, so nobody can touch his/her workspace. User
can unlock it by entering the account password and click Continue. Three wrong attempts of
entering password will log out Pi. User can also exit Pi after clicking on Exit button.
Exit
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Orders
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From this menu, user can access to various types of Orders
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Normal Buy Order (F1 or Alt+F1)
OrderBook (F3)
TradeBook (F8)
Buy/Sell Order
From this window you can place different types of Buy/Sell orders:
Normal Orders
Cover Orders(CO)
Bracket Order(BO)
After Market Orders(AMO)
Normal Order
Shortcut: Alt + F1 or F1
User can place buy orders through this window. User can use shortcut keys or can select Buy
Normal Order from Orders menu in main menu after selecting particular scrip from market watch
which will invoke buy order window. User have to ll all required elds before click on submit button.
User can use Tab button for faster navigation through this window and also use F1 and F2 to toggle
between Normal Order Buy and Sell window.
Shortcut:Alt + F2 or F2
User can place sell orders through this window. User can use shortcut keys or can select Sell Normal
Order from Orders menu in Main menu after selecting particular scrip from market watch which will
invoke sell order window. User have to ll all required elds before click on submit button. User can
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use Tab button for faster navigation through this window and also use F1 and F2 to toggle between
Normal Order Buy and Sell window.
NOTE:
Differentiation between buy order window and sell order window call also be based on colour as
always buy order window will be in blue and sell order window will be in red.
The user must enter the following details while placing a Buy or Sell order:
Exchange: The user must select the Instrument Name for which the order is to be placed.
Symbol: The user must select the desired Symbol for which the order is to be placed.
Type: The user must select the Option Type either CE or PE. This is Not Applicable for Cash Segment
and commodities.
Strike Price: The user must select the Strike Price for which the order is to be placed. This is not
applicable for Cash Segment and commodities.
Expiry Date: The user must select the Expiry Date. This is Not Applicable for Cash Segment.
Quantity: The user must enter the quantity that should be placed in the order.
Price: The user must enter the price at which the order is to be placed for the scrip.
Trigger Price: The user must enter the Trigger Price while placing Stop Loss orders, as the price at
which the order is to get triggered.
Disc Quantity: The user can enter the disclosed quantity, that is, the quantity that is to be disclosed to
the market.
Cover Order
Cover order offers an order placement feature through which user can take a intraday position in
equity/F&O/Commodities segment where in system will place the market order along with the stop
loss market order which will get triggered at speci ed trigger price. This order will help user to limit
the loss if any on the position.
Features:
All orders placed through cover order product are market orders.
Trigger price entered by the user for stop loss should be within trigger price range.
RMS would validate this product type taking lesser margin (RMS would take at percentage or cash
co factor times the prede ned trigger price % con gured for individual scrips).
If rst leg is rejected the other is also rejected by the system.
User can book the trade by converting the SL to market or the system will do it for user if he/she
clicks on exit button.
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Cover orders are accepted for selected scrips as con gured by the administrator.
When we are placing buy Cover Order, for the stop loss sell order trigger price should be within the
range that is displayed in trigger price range box. Trigger price is calculated as LTP - Trigger
percentage. User can use Tab button for faster navigation through this window and can use F1 and
F2 to toggle between Cover Order Buy and Sell window.
Shortcut: Shift + F2
User can invoke sell cover order entry from orders menu. We can also invoke from market watch by
using its short cut key.
When we are placing sell cover order, for the stop loss buy order trigger price should be within the
range that is displayed in the trigger box price range. Trigger price range is calculated as LTP +
trigger percentage.
User can use Tab button for faster navigation through this window and can use F1 and F2 to toggle
between Cover Order Buy and Sell window.
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The user places fresh cover order in to the system as rst order is always market, it will be traded
and as second leg is stop loss, it will be pending in the system. The user can modify only the price in
the pending order window with limits that is mentioned in the trigger range box.
If the rst order is not traded due to lack of market depth it will be sitting as limit order with price as
Last traded price. The user can modify it to market again if he/she wants to.
AMO Buy
Shortcut: Ctrl + F1
You can place After Market Buy orders through this window. You can use shortcut keys or can select
AMO Buy from Orders menu in Main menu after selecting particular scrip from market watch which
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will invoke AMO Buy order window. You have to ll all required elds before click on submit button.
You can use Tab button for faster navigation through this window.
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Pi allows the end user to place AMO orders from the terminal which will be parked at the server level.
Next trading day these will be sent to the exchange.
AMO Sell
Shortcut: Ctrl + F1
You can place After Market Sell orders through this window. You can use shortcut keys or can select
AMO Sell from Orders menu in Main menu after selecting particular scrip from market watch which
will invoke AMO Sell order window. You have to ll all required elds before click on submit button.
You can use Tab button for faster navigation through this window.
Bracket Order
A type of order where user can enter a new position along with a target/exit and also stoploss order.
As soon as the main order is executed the system will place two more orders (pro t taking and
stoploss).
When one of the two orders (pro t taking or stoploss) gets executed, the other order will get
cancelled automatically.
Trailing Stoploss
When you place a bracket order, you get an option to either place a xed stoploss order, or also a trail
your stoploss. It means that if the contracts/stock moves in your direction by a particular number of
ticks, the stop loss will go up/down based on if you are long or short automatically.
Note:
This is an Intra-day product, so all Bracket order (BO) positions will be squared off by 3:20 pm.
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Enabled across Equity, Futures & Options and Currency. Bracket order is not allowed for
Commodities.
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Shortcut: Shift +F3
A Buy order that is accompanied by a sell limit order above the buy order’s price and a sell stop order
below the buy order’s price. These three component orders will all be set at a price determined by the
investor at the time the order is entered. This type of order allows investors to lock in pro ts with an
upside movement and prevent a downside loss, without having to constantly follow the position.
User can place Bracket Order Buy through this window. User can use shortcut keys or can select
Bracket Order Buy from Orders menu in Main menu after selecting particular scrip from market
watch which will invoke Bracket Order Buy window. User have to ll all required elds before click on
submit button. User can use Tab button for faster navigation through this window and can use F3
and F4 to toggle between Bracket Order Buy and Sell window.
Shortcut: Shift + F4
A sell order on a short sale that is accompanied (or bracketed) by a buy stop order above the entry
price of the sell order and a buy limit order below the entry price of the sell order. As the three
component orders are based on set prices, this type of order protects the investor from the
downside but also potentially locks in a gain without the investor constantly monitoring price.
User can place Bracket Order Sell through this window. User can use shortcut keys or can select
Bracket Order Sell from Orders menu in Main menu after selecting particular scrip from market
watch which will invoke Bracket Order Sell window. User have to ll all required elds before click on
submit button. User can use Tab button for faster navigation through this window and can use F3
and F4 to toggle between Bracket Order Buy and Sell window.
Order Book
Shortcut: F3
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Once an order is placed, the user would like to see the status of that order. The Order Book window
opens with Market Watch by default, when you log in into Pi. A user can call the order book window
by pressing F3 in the market watch or from MarketWatch toolbar. This will show the status of all the
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orders that were placed. If the user presses F3 it would show the status of all the orders that were
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placed acrossFeatures
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all the segments as well as across the entire exchanges. The
Order Book window is
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very user-friendly as it allows the user to view and access the data in a very e cient way. User can
also set the columns in the sequence user prefers them to appear in the order book window. One can
also remove the unwanted columns from the window. All the elds/columns can also be ltered by
right clicking on columns and select choose columns. This allows the user to search for the
information that user is looking for.
The Order Book provides details of all the orders placed by the user. These include orders placed to
the exchange, but not traded or partially traded (open orders), traded orders (completed), rejected
orders and cancelled orders.
The user can also modify or cancel an Open Order from this window, by selecting the order from
order book and clicking on Modify or Cancel, as the case may be. Other functions like writing the
orders to excel and view order history.
User can use Shortcut keys to Modify, Cancel, Cancel All and Exit orders in Orderbook.
For modifying the pending order user can use Shift+M shortcut key to modify the order. For cancel
the selected pending order user can use Shift+K shortcut key to cancel the order. For cancel all
pending orders, user can use Shift+A shortcut key. To exit the CO and BO user can use Shift+E
shortcut key to exit the pending CO and BO.
Order History
For viewing the Order History by double clicking on the order can also be performed easily by the
user.
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Trade Book
Shortcut: F8
The Trade Book window displays the executed orders for all the scrips. This window can be invoked
by using shortcut key from the market watch or can be selected from Orders menu or from
MarketWatch toolbar. It will display the trade details as shown in the below gure.
You can write trade book to excel for his further reference and also can select desired columns from
right clicking on column head and selecting on choose columns.
The summary displays the Total Buy Quantity, Total Buy Value, Total Sell Value, Sell Quantity and the
Net Amount. Pressing F8 will display all the trades across all the scrips (All Segments All
Exchanges).
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Positions
Using this menu, user can access the various types of positions:
Admin Positions
Shortcut: F11
This window can be invoked using shortcut key or can be selected from Positions menu or from
MarketWatch toolbar. The user can view the consolidated positions in the Net Positions Window.
These positions can be further ltered according to the exchange/segment, according to the product
tag and Opt/Fut calls or according to the Daywise/Netwise positions of the scrips for which the trade
was made.
This window also provides some vital information like the Net Position, Buy Quantity, Sell Quantity,
Buy Amount, Sell Amount, MTM pro t/loss, etc.
If the user desires to square-off all his pending positions or a part of the open positions then he can
do that by just selecting the scrip(s) and then entering the percentage of quantity or the exact
quantity that user wants the system to be squared-off.
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Convert Position
Convert Position button given in admin positions window will allow user to convert position from one
product type to another product type.
It will consider all checks before converting position to other product type. For example is a position
is initiated in MIS Product type and later user want to convert the same to NRML it will check if
enough money is there or not to convert the selected position and then convert its product type.
This window can be invoked using shortcut key or can be selected from Positions menu or from
MarketWatch Toolbar. Accounts window allows the user to view the limits for clients. The user will
have to select the category for which the limit is to be viewed. All limits set for the selected client will
appear in this window. How much cash is used, how much margin is blocked everything can be
known from this window.
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Shortcut: Alt + F9
In this window user can see his equity holdings which are in his DEMAT account. He/she can also
see his/her T1 holdings. The valuation based on LTP for each exchange is showed on top of the
window. You can open this window from Position menu or using shortcut Key or from MarketWatch
Toolbar.
User can square off his positions from this window also. User can place both limit orders and market
orders by selecting the desired position he want to close from his holdings. The user is provided to
select columns based on his preference.
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Funds Transfer
Pay In
Clicking on Pay In will open the payment gateway to transfer the fund from your bank account to
your trading account with www.zerodha.com. Using this you can transfer the funds in any of the
segment i.e. Equity, Commodities or Derivatives.
Pay Out
Clicking on Pay Out will open your zerodha backo ce page https://q.zerodha.com/.
Chart Menu
Save
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Zoom In
Zoom Out
Scroll Left
Scroll Right
User can remove all the drawing objects in one click from the selected chart.
Chart Colors
Fore Color
Back Color
Grid Color
Gradient Top Color
Gradient bottom Color
All values on a chart may be exported to Excel. Simply click a chart to select it then click the Export
Chart to Excel in Chart menu.
Chart Tools
Trendline
A line that is drawn over pivot highs or under pivot lows to show the prevailing direction of price.
Trendlines are a visual representation of support and resistance in any time frame. Trendlines are
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used to show direction and speed of price. Trendlines also describe patterns during periods of price
contraction.
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Speed Line Market Technical Arti cial
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Introduction Login Features Charts Indicators Menu Orders Positions Transfer Tools Intelligence
Speed resistance lines (SRL) are especially useful when looking at issues that are inside of
strong trends A chartist uses the SRL to determine support and resistance and can be used by those
interested in both short and intermediate phases as well as long-term outlooks. Simply put, the SRL
measures the line of an uptrend or a downtrend.
Gann Fan
A Gann fan consists of a series of diagonal lines called Gann angles, of which there are nine. These
angles are superimposed over a price chart to show a security's support and resistance levels. The
resulting image is supposed to help technical analysts predict price changes.
Gann fan relies heavily on subjective choices made by individual traders; the chart may be limited in
its usefulness and accuracy. The three premises Gann based his theory on were: i) price, time and
range are the only factors, ii) cyclical markets, and iii) geometric market design.
Fibonacci Arcs
A charting technique consisting of three curved lines that are drawn for the purpose of anticipating
key support and resistance levels, and areas of ranging. Fibonacci arcs are created by rst drawing
an invisible trendline between two points (usually the high and low in a given period), and then by
drawing three curves that intersect this trendline at the key Fibonacci levels of 38.2%, 50% and
61.8%. Transaction decisions are made when the price of the asset crosses through these key levels.
Fibonacci Retracement
A term used in technical analysis that refers to areas of support (price stops going lower) or
resistance (price stops going higher). The Fibonacci retracement is the potential retracement of a
nancial asset's original move in price. Fibonacci retracements use horizontal lines to indicate areas
of support or resistance at the key Fibonacci levels before it continues in the original direction. These
levels are created by drawing a trendline between two extreme points and then dividing the vertical
distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%. Fibonacci retracement is
a very popular tool used by many technical traders to help identify strategic places for transactions
to be placed, target prices or stop losses.
After a signi cant price movement up or down, the new support and resistance levels are often at or
near these lines.
Fibonacci Fan
A charting technique consists of three diagonal lines that use Fibonacci ratios to help identify key
levels of support and resistance. Fibonacci fans are created by rst drawing a trendline through two
points (usually the high and low in a given period), and then by dividing the vertical distance between
the two points by the key Fibonacci ratios of 38.2%, 50% and 61.8%. The result of these divisions,
each represent a point within the vertical distance. The three 'fan' lines are then created by drawing a
line from the leftmost point to each of the three representing a Fibonacci ratio.
An indicator used by technical traders to identify periods in which the price of an asset will
experience a signi cant amount of movement. This charting technique consists of a series of
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vertical lines that correspond to the sequence of numbers known as Fibonacci numbers (1, 2, 3, 5, 8,
13, 21, 34, etc.). Once a trader chooses a starting position (most commonly following a major move)
on the chart, a vertical line is placed on every subsequent day that corresponds to the position in the
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Fibonacci numberMarket
sequence. Technical Arti cial
Watch Funds Chart
Introduction Login Features Charts Indicators Menu Orders Positions Transfer Tools Intelligence
Fibonacci numbers
are a sequence of numbers where each successive number is the sum of the
two previous numbers. For reasons unknown, these numbers play an important role in determining
relative areas where the prices of nancial assets experience large price moves or change direction.
The four popular Fibonacci studies are arcs, fans, retracements and time zones.
Tirone Levels
A series of three sequentially higher horizontal lines used to identify possible areas of support and
resistance for the price of an asset. The position of the center line is plotted by calculating the
difference between the highest high and the lowest low for the asset price over a period of time and
dividing it by 2. The top and bottom line are drawn 1/3 and 2/3 of the difference, respectively,
between the same high and low that are used to calculate the center line.
The use of Tirone levels is similar to that of Fibonacci retracement, and both are interpreted in the
same way. They both determine the position of the lines by using a percentage of the difference
between a high and a low. Both Tirone levels and Fibonacci retracement use 50% as one of the
possible support/resistance levels.
Quadrant lines
Quadrant Lines are a series of horizontal lines splitting the highest and lowest values of a security's
prices into four equal sections. They provide for day trading methods yet another set of useless lines
that probably do no more than clutter the screen. To calculate them, nd the highest high and the
lowest low during the time period under question. The top line is drawn horizontally thru the highest
price during the time period and the bottom line is drawn horizontally thru the lowest price during the
time period. The remaining three lines are then drawn by dividing the two outer lines into four equal
sections. The center line (a.k.a. the "mean") is usually shown too.
Raff Regression
The Raff Regression channel is a great con rmation tool though, both for seeing active trends and
helping to spot trend reversals. When user connects the regression line to the low and high point of a
trend, the regression line will swivel all over the place as it calculates the ideal trajectory. The end
result is a line that runs through most of the price action.
Error Channels
Standard Error Channels are calculated by plotting two parallel lines above and below an x-period
linear regression trendline. The lines are plotted a speci ed number of standard errors away from the
linear regression trendline.
Rectangle
A pattern formed on a chart where the price of a security is trading within a bounded range in which
the levels of resistance and support are parallel to each other, resembling the shape of a rectangle.
This pattern signals that the price movement, which has stalled during the pattern, will trend in the
direction of the price breakout of the bounded range.
The bounded range, or rectangle, is a period of consolidation in which market participants are
generally indecisive. The formation of this pattern will see the price of the security test the levels of
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support and resistance several times before a breakout. Once the security breaks out of the range, in
either direction, it is considered to be trending in the direction of the breakout.
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Ellipse Market Technical Arti cial
Watch Indicators Funds Chart Intelligence
Introduction Login Features Charts Menu Orders Positions
Transfer Tools
Just Select Ellipse
from Chart Tools
and drag across the chart to easily draw an ellipse of any size
and at any angle. When nished user can edit the location, size, angle, etc to ne tune it to market
data. User can drag it to other areas of Pi chart to identify the dominant price-time limits of the
market data. Future movements are contained within the limits of the perimeter of these ellipses.
View Menu
View Menu has User settings and other User Interface customizations.
User Settings
Shortcut: Ctrl + P
User settings have settings which can be customized by user according to their choice. User setting
form has General, Sound Alerts, MarketWatch, Market Indices and Order Window.
General Settings
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Sound Alerts
MarketWatch Settings
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Market Indices
Order Window
Select the default Product type & Order Qty(in Lots) for F&O.
Select the default Product type & Order Qty(in Qty)for CM.
Select the default Order type while placing the order.
Pick the Order Qty either by default Order Qty (CM & F&O) or from SnapQuote Qty while opening
Order window from SnapQuote.
Order window focus will be selected between Order Qty and Order Price.
Selecting Con rm before selecting order will ask con rmation every time while placing an order.
Selecting Transaction Password required will ask to enter transaction password every time while
placing an order.
Default Settings button will set Order Window settings page to default.
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Pi Bridge Settings
(This setting will be enabled only when user will be subscribed to Pi Bridge)
1. Mock
In this mode, only logging (C:\Zerodha\Pi\PiBridge.log) for order placing from Amibroker etc. would
be done. There won’t be any generated alerts.
2. Semi Auto(Orders)
In this mode, both logging and generated alerts only for order placing from Amibroker etc would be
done.
3. 2Way SemiAuto
In this mode, all requests and responses would be logged. (For more details, please refer Pi bridge
document)
5. Default Settings button will set Pi Bridge Window settings page to default.
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Chart Settings
DownTick
Chart Tool
2. Chart Styles
Use X Grid
Use Y Grid
Show Separator between panels in chart Window. If you have checked Show separate
panel option in View menu then it’ll show a separate panel on chart for indicators else it’ll
hide the separate panel.
Three D Style
Enable 3D style for charts. If you have checked Three D style option in View menu then
it’ll show charts in 3D view.
Darvas Boxes
Volume Panel
3. Chart Tools
Cross Hair
Data Box
Day Separator
Pivot Lines
Quick Order Panel
To place Quick Limit Order through charts. It can also be used to view SnapQuote.
User can disable the con rmation message while placing the Quick Limit order using
Quick Order Panel.
4. Default Templates
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In this feature of Pi, three Templates are provided by default, user can select any one of them to use
it as default Template on charts.
User can make his own template and set it as default template on charts.
Market
PI HELP Technical Arti cial
Watch Indicators Funds Chart Intelligence
Introduction LoginDefault
*Note: Charts
Template
Features be
should used on Menu Orders
chart of data till 60Positions Transfer
days (1Min). Tools
6. Thickness
User can change the thickness of horizontal and vertical line up to 5 points on chart.
Horizontal Line
Vertical Line
7. Chart Toolbar
Floating Toolbar
Fixed Toolbar
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1. Search Scrip
User can open new scrip’s chart by using this feature on an already opened chart.
2. Time Frame
User can change timeframe on an already opened chart according to the periodicity.
For eg: For min chart, user can change only to min, hourly to hourly, for day: user can’t switch to any
timeframe. (limitation as of now)
3. Study
User can add Technical Indicators using study dropdown. User can also search the indicators by
typing the indicator name in the study search box provided.
4. Chart Type
User can change the chart type using this particular dropdown.
5. Chart Tools
Trendline
Ellipse
Speedlines
Gann Fan
Fibonacci Arcs
Fibonacci Retracements
Fibonacci Fan
Fibonacci Time Zones
Tirone Levels
Quadrant Lines
Raff Regression
Error Channels
Rectangle
Freehand Drawing
6. Buy Symbol
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7. Sell Symbol
8. Exit Symbol
9. Text Object
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10. Zoom In/Zoom Market
Out Technical Arti cial
Watch Funds Chart
Introduction Login Features Charts Indicators Menu
11. Scroll Right/Left
Orders Positions Transfer Tools
Intelligence
12. Apply Template
13. Remove Drawings
Using this Pop out Active window option in View menu, you can open separate window of any tab by
selecting that particular active tab in Pi. You can open as many separate windows as you want using
this option.
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News Reader helps User get news from a large no of RSS feed sources simultaneously and lter
according to keywords. You could add your favorite sources on clicking and do other setting changes
using the settings button. Refresh button helps you to refresh the News from the source. You could
also lter the news for Keywords.
Once the news gets populated you could select the NEWS using mouse which shows a summary of
the news at the bottom window. On double-click the news reader goes to the link of the news.
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Shortcut: Ctrl + M
Show or hides the oating window showing Market Indices. You can use the shortcut key to show or
hide Market Index.
Market
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Introduction Login Features Charts Orders Positions Transfer Tools
View Quick Order
Shortcut: Ctrl + Q
Shows or hides the Quick Order window in the charts. You can use the shortcut key to show or hide
Quick Limit Order window. You can place a Limit order on Charts or can also open SnapQuote using
Quick Limit Order window.
Blue
Silver
White
Zerodha Theme(Default theme)
Alerts Menu
This menu consists of following sub-menus:
Alerts can be accessed from Create Scripted alerts from Alerts Menu item in Main Menu or by Click
the Scripted Alerts Icon in Side menu on the left.
User can provide program instructions to display trade alerts by clicking the Alert button on the side
toolbar or can be loaded from the Data, Create Scripted Alerts menu.
User can provide instructions that tell the application to play a sound or pop-up when a speci c
series of events occur, as speci ed by four program scripts. A script is a set of instructions written in
the TradeScript. For example, a script might consist of just one line such as “LAST > 350 AND HIGH >
351.25”, or it may consist of many lines of instructions.
A separate programming manual is provided for the TradeScript, which can be viewed by clicking the
Script Guide button on any Alert window or can be selected from Help menu in Main menu.
User can load an existing alert by selecting a Pro le name from the drop down menu (if any exist). To
create a new alert, type a Pro le name, data selection criteria, enter at least a buy and sell script (exit-
short and exit-long scripts are optional). Finally, click the Enable Alerts button to turn the alert on.
When the underlying data is matched with one of user’s alert scripts, an alert will broadcast to users
running Desktop.
On selecting Go Live button Pop up alerts will come showing the details of the alerts generated on
clicking the close button order form will come to place the orders accordingly depending it is buy or
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sell signals.
User can select the Order type either Normal or Cover Order in Order section given below and can
also select theMarket
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Product type and Quantity in order details section.
Watch Technical Arti cial
Chart Intelligence
Introduction Login Charts Indicators Menu Orders Positions Funds
User can addFeatures
Symbol on which you want to generate Buy/Sell alerts by clicking on Select
Transfer Tools Symbol
button:
The alerts pop-up on cancelling will popup the order form with details mentioned in the alerts
window like quantity, order type etc. If left for more than 5 sec it will be removed.
To Disable the Alert’s popup user could click stop live button. However user could still receive the
Alert’s message in alert window and in MarketWatch’s message window. To disable an alert at any
time, simply click the Disable Alerts button.
Scanner
The Stock Scanner feature can be accessed from the Alerts menu in Main menu.
A stock scanner is a tool that allows user to search several symbols simultaneously for certain
criteria.
The stock scanner that is built into Pi allows user to accomplish this by means of the TradeScript.
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To create a new scanner, select Scanner from Alert menu in the Main menu. Next, click on New
Scanner button. A dialog will display:
To create a new scanner, select Stock scanner from Alert menu in the main menu. Next, click on New
Scanner button. A dialog will display:
Here user could give name to the scanner and simply type trade script into the script text box then
choose the appropriate bar interval, periodicity and no. of days values. Always use candles less than
20000 for optimum performance. Next, click the Add Symbol button to add symbols on which user
want to run the scanners.
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Here user could search the Symbols and add to list of symbols on which he/she want to run the
scanner. Click OK button to select the list of symbols. Now select OK button for saving the scanner.
User could now see the newly de ned scanner in scanner list. Just select the scanner and press
Load button to start the scanner. User could also edit or using Edit and Delete buttons.
The scanner gets loaded in the list of scanners created by user. User can select the scanner and click
Load button to start a scanner. Scanner allows for one symbol per new line.
The scanner will take several moments to load the historic data into memory; therefore this start-up
task should be run prior to the market opening.
The back test screen will run in real time after the historic data has been loaded into memory.
The Trade Time cell indicates when the last trade occurred. The Alert Time cell indicates when user’s
script last generated a signal.
The Trade button allows user to place a trade, the Chart button allows user to open a chart, the
Settings button allows user to customize the script for the selected symbol only. The stop button will
give a message box ask you “Stopping the scanner will require a complete re-priming of data if user
wish to restart the scanner” and clicking on Yes will stop the scanner or clicking on No will continue
with the scanner.
The scanner can be edited, by clicking Edit button and the script bars, bar intervals etc could be
changed and saved. The scanners can be selected in list of scanners and deleted by clicking Delete
button.
Back Testing
The Back Testing screen can be loaded from the Alerts menu in the Main Menu.
Back Testing is a method that traders use to test their trading strategies against historical market
conditions. Knowing how much pro t or loss a trading system generated in the past may help
prevent or reduce the risk of loss in real trading.
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The Abacus Back Testing engine can calculate user’s trading system's performance using nearly
two-dozen scienti c pro t, loss and risk measurements. Abacus allows user to specify individual
instructions for buying, selling, holding, and exiting his/her simulated trades. To run a Back Test,
simply enter and verify your buy, sell, and exit scripts then click the Back Test button. The Buy Script
is a set of instructions for buying (going long) and the "Sell Script" is a set of instructions for selling
(going short).
The scripts required on this screen are based on the Abacus programming language. Please refer to
the Abacus programming guide for complete details. Click on Script guide will open Tradescript Help
document for user to learn how to write Buy, Sell and Exit scripts.
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User can add symbol by clicking on Select Symbol button which will open Select symbol window to
select symbols from any of the exchanges to perform the Backtesting.
Some trading strategies work well on a wide range of securities but work poorly with some
securities. Reasons may include poor market liquidity for a particular stock (low volume), high
volatility and other factors. It is a good idea to test user’s own strategy across a wide range of
securities. Just because it isn’t very pro table on one security doesn’t mean it won’t work well with
another security.
The values on the back testing page represent a range of measurements based on pro tability and
risk of user’s trading system when tested with the symbol that user supplied at the top of the back
test screen. The output on the back testing results list provides an overall picture of how user’s
strategy might perform if used as a live trading system.
Average number of trades per month, including buy sell, and exit trades.
Total number of pro table trades since the beginning of the back test.
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Total number of un-pro table trades since the beginning of the back test.
Total Loss
Percent Pro t
Percentage of pro table trades in since the beginning of the back test.
Largest Pro t
Largest Loss
Maximum Drawdown
The maximum account drawdown, de ned as the percent retrenchment from equity peak to equity
valley. A drawdown is in effect from the time an equity retrenchment begins until a new equity high is
reached.
Same as Maximum Drawdown, except the test is repeated 5,000 times, with each test introducing a
small random slippage. Preferred over regular drawdown.
Re ects the growth of a hypothetical $1,000 in a given investment over time. The index is equal to
$1,000 at inception. Subsequent month-end values are calculated by multiplying the previous
month’s VAMI index by 1 plus the current month rate of return.
The geometric mean is the monthly average return that assumes the same rate of return every
period to arrive at the equivalent compound growth rate re ected in the actual return data.
Standard Deviation
Measure the degree of variation of returns around the mean (average) return. The higher the volatility
of the investment returns, the higher the standard deviation will be.
M R = (∑ R I) ÷ N
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I=1
(∑ (R I - M R) 2 ÷ (N - 1)) ½
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Annualized Standard Technical Arti cial
Watch Indicators Menu Funds Chart Intelligence
Introduction Login Features Charts Orders Positions Transfer Tools
Standard Deviation
X (12) ½
Similar to the standard deviation above except the downside deviation considers only returns that fall
below a de ned Minimum Acceptable Return (MAR) rather than the arithmetic mean. For example, if
the MAR were assumed to be 10%, the downside deviation would measure the variation of each
period that falls below 10%. (The loss standard deviation, on the other hand, would take only losing
periods, calculate an average return for the losing periods, and then measure the variation between
each losing return and the losing return average).
((S (L I) 2) ¸ N) ½
I=1
Sharpe Ratio
A measure developed by William Sharpe that is de ned as the incremental average return of an
investment over the risk free rate. Risk (denominator) is de ned as the standard deviation of the
investment returns.
M R = (∑ R I) ÷ N
I=1
I=1
A return/risk ratio developed by Frank Sortino. Return (numerator) is de ned as the incremental
compound average period return over a Minimum Acceptable Return (MAR). Risk (denominator) is
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DD MAR= ((∑( L I ) 2 ) ÷ N ) ½
I=1
Calmar Ratio
A return/risk ratio. Return (numerator) is de ned as the Compound Annualized Rate of Return over
the last 3 years. Risk (denominator) is de ned as the Maximum Drawdown over the last 3 years. If
three years of data are not available, the available data is used.
A return / risk ratio. Return (numerator) is de ned as the Compound Annualized Rate of Return over
the last 3 years. Risk (denominator) is de ned as the Average Yearly Maximum Drawdown over the
last 3 years less an arbitrary 10%. To calculate this average yearly drawdown, the latest 3 years (36
months) is divided into 3 separate 12-month periods and the maximum drawdown is calculated for
each. These 3 drawdowns are averaged to produce the Average Yearly Maximum Drawdown for the
3-year period.
Where D1 Calmar Ratio = Average Annual ROR /Worst drawdown = Maximum Drawdown for rst 12
months
Average Drawdown = (D1 + D2 + D3) / 3 Sterling Ratio = Compound Annualized ROR /ABS ((Average
Drawdown -10% ))
Generated Alerts
The Generated Alerts window will show the Buy/Sell alerts created using the scripted alerts. Using
this window user can buy or sell the particular stock on which alerts are generated. In this window,
the information provided for the any stock are Time at which alert is generated, Source Component,
Strategy using which alerts are generated, Exchange, Trading Symbol, Order Type, etc. User can also
add more columns to this window by right clicking on top of the data grid and selecting the Choose
column option.
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PI HELP Market
Watch Technical Chart Arti cial
Introduction Login Indicators Menu Funds Intelligence
Features Charts Orders Positions Transfer Tools
Expert Advisors
Expert Advisors can be attached to charts so that a popup alert will display anytime a buy or sell
strategy generates a signal.
To create an Expert Advisor, open a chart and click the Expert Advisors, Create New Expert Advisor
menu.
Simply type a name, description, message, a buy script and a sell script (using the TradeScript).
The message will be displayed in the popup window whenever your expert advisor generates a
signal. You may enclose constants within brackets, separated by a pipe character. For example you
may write text such as the following: "The SMA just crossed [over|under] the close, generating a
[buy|sell] signal". The rst value will be interpreted for long positions while the second value will be
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interpreted for short positions. You can also use HTML formatted text such as <b></b> for bold,
<font color=red></font> for red text, etc. You can save your script by clicking on Save button and can
also check the preview of your scripts by clicking on Preview button, an Alert popup message will
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appear showingMarket
the message youTechnical
saved in the EA script at the bottom of the screen. Arti cial
Watch Indicators Menu Funds Chart Intelligence
Introduction Login Features Charts Orders Positions Transfer Tools
Apply Expert Advisor
Using this option in Arti cial Intelligence, user can apply various EA on the charts to generate Buy or
Sell signals. There are 35 public Expert Advisors are available in Pi. User can also use Expert Advisor
made by the user himself.
Using this option in Arti cial Intelligence, user can also edit EA made by him.
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After selecting the EA, click on Edit Selected EA and user will be able to edit EA.
Note: User will not be able to edit any of the public EAs.
Consensus Reports
Consensus Reports are simply groups of Expert Advisors that are processed simultaneously and the
results are aggregated into one ranking value.
User may access this feature by opening a chart then selecting Consensus Report in Arti cial
Intelligence menu.
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Simply select one or more Expert Advisors then click the Apply button.
The Consensus Report will list the generated signals for each selected Expert Advisor, along with a
ranking value represented inside a gauge.
Pattern Recognition
The Pattern Recognition feature of Pi allows user to search for patterns within the currently selected
chart.
To use this feature, click the Chart, Pattern Recognition item from the main menu
A dialog will display. Select <launch pattern designer…> from the list.
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Use the pencil icons to draw pattern then enter the appropriate settings in the text boxes below.
Please refer to the Advanced Pattern Recognition documentation for a complete overview of these
settings.
After clicking on the Save button, return to Pi and select Chart, Pattern Recognition again. The
pattern created by user will be listed. Simply click on pattern to search for it within the currently
selected chart.
Help Menu
Registration Details
User can see the registration details by clicking on Help menu and selecting Registration details.
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Web Links
User can open the any of these given web links of NSE, BSE, MCX, SEBI, FMC and Corporate Actions
by selecting from Web Links menu in Help menu.
http://www.nseindia.com/
http://www.bseindia.com/
http://www.mcxindia.com/
http://www.sebi.gov.in/sebiweb/
http://www.fmc.gov.in/
http://www.bseindia.com/markets/Equity/EQReports/MarketWatch.aspx?expandable=2
Help Contents
User can view this Help document by selecting Help Contents in Help menu.
Pi Trading Q&A
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11/19/2020 Tradelab | PI HELP
User can select Pi trading Q&A in Help menu, you will be redirected to:
http://zerodha.com/z-connect/category/tradezerodha/pi-tradezerodha .
PI HELP Market
On this link you can ask your queries regarding Pi and you can also get more information aboutArti
Technical Pi. cial
Watch Indicators Funds Chart Intelligence
Introduction Login Features Charts Menu Orders Positions
Transfer Tools
Trading Script Help
User can view Trade Script help document by selecting TradeScript Help in Help menu. Using this
document you can write your own Trade script that will help you to generate scripted alerts, Backtest,
EA and scanner.
When new update of Pi will be available, Pi will show a popup for new updates. User can updates Pi
using Check for Updates in Help menu.
Update Available
When user clicks on Check for Updates in Help menu, It’ll open a dialog like:
Update downloading
After clicking on Yes, It’ll start downloading the new update of Pi.
Patch applied
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11/19/2020 Tradelab | PI HELP
About Pi
Keyboard Shortcuts
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11/19/2020 Tradelab | PI HELP
27.4 NavigateMarket
PI HELP to last 100 bars Technical End Arti cial
Watch Indicators Menu Orders Positions Funds Chart Intelligence
Introduction Login Features Charts Transfer Tools
28. Reconcile Ctrl + R
29. switch between Pi Document Tabs Ctrl + TAB
30.Lock Pi Ctrl + Alt + L
31. Delete (symbol from market watch, or Delete
selected indicators/drawings from chart)
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