Details about ORB Trading Bot
Here’s the detailed article about our ORB Trading Bot. We have already shared the details about the Opening Range breakout strategy in this article, please go through this link to under stand the concept.
Opening Range Breakout (ORB) is a commonly used trading system by professional and amateur traders alike and has the…medium.com
ORB Bot works with your existing Zerodha / Upstox account. No need to open new account. And trial will be valid for one week, after that access would be revoked.
Please check this FAQ page to know more about the bot.
Here’s the list of some of Frequently asked questions related to Squareoff’s ORB Trading bot.medium.com
Our data analytics team keep working on with historical data sets to make ORB Bot more robust. After the implementation of the bot, we have made five upgrades so far.
1st Upgrade: Earlier, Bot users need to input their capital and target daily to the bot, so that it calculates the necessary files and sends the trigger at 9.30 AM. However, there are days where users might miss to input the data to the bot, some users always follow fixed capital and risk every day, like 1 lac capital , 1 % risk, so we upgraded the bot to remember the recent input data given by the users, it saves that and if they fail to give input to the bot daily before 8:30 AM, then it sends the execution button as per their previous day value. But now we have ORB Instant bot, where it sends you the order instantly
2nd Upgrade: Earlier, we just had one execution button by the bot, that would place both Buy/Sell orders. Later we upgraded the bot to make it as 3 options, where people who wanted to place only Buy, Only Sell or Both Buy & Sell can now click on respective execution buttons to place the trade.
3rd Upgrade: The ORB bot use to provide only list of 5 stocks from Top gainers as PRE-OPEN data analysis. So we upgraded the bot to pick top 5 losers from pre — open session. So that now, users will have an option to trade on Gainers list or from losers list.
There are days where after gap up/gap down, the stock tend to move in same direction further, in that case placing the orders with top 5/bottom 5 list would trigger the order and end up in profits. Even if it starts falling, the sell order placed would be triggered and would end up in profits.
4th Upgrade: To make the ORB bot more robust & profitable, our data analytics team did further research and found that trading with stocks that gap up or gap down > 1% resulted in higher profits. Usually in the pre-open session, if the list of stocks that opens with less than 1% gap implies that, there is no much movement in markets, when there is no such volatility in markets, then there will not be any bigger trends for that day, to make profits in ORB we need bigger movements, so by avoiding trading in such days, where there is no gap stocks, we avoid losses.
So the bot has been upgraded to pick stocks that gaps up >1%, which will be added in Momentum top 5 stocks, stocks that gaps down<1%, will be added in Momentum bottom 5 stocks, in case if there are only two or three stocks satisfies this condition, then bot will be trading only with those stocks.
5th Upgrade: Our analytics team found that multiple times , the over all profit for ORB bot often reaches in positive territory like +1% +1.5% etc, that’s where people manually exit and lock the profits daily. So we created a automated alert, that would track and alert the users when such over all profit occurs, so that who do not have time, can see the alert and manually exit and lock the profits
This is how ORB bot PnL looked like, blue denotes top 5 stocks and red denotes bottom 5 stocks buy and sell. X axis is time and Y axis is profit for 10k capital. As you can see, it has gone above 1% profit. So we created an automated profit alert channel for our ORB users, upon receiving the alert, they can exit from their position and lock profits. This is how profit alerts are sent instantly by the bot.
Once you get these alerts, you can go to kite app and exit the positions if you want to exit when over all profits reaches certain percentage. Please note that whatever target you mention to the bot is applicable for each trade, if you give 1% target, then when any of the trade reaches 1% target it will exit automatically. No manual intervention in that, only when you want to exit when over all profit reaches certain %, you can do so after getting notified by the bot.
Also we have deployed our own capital as well with this bot, users who want to know the live performance of ORB bot, can use this link to download the Trade report from Zerodha.
Please check the following link to understand how the ORB bot functionality works.
This is a small write up on How to use our Automated ORB — Opening Range Breakout Trading system. Earlier we written an…medium.com
To subscribe to the bot use the following link
And please go through our Terms and Conditions before availing our services. https://www.squareoff.in/disclaimer