As far as I know, the auto-trading in India is only allowed through exchange approved platforms.
But, recently I watched this video on youtube where the person is shooting orders directly from his TRADINGVIEW to ZERODHA KITE. And, the orders are being placed without any secondary confirmation. (https://youtu.be/rNxGzUEkwEg).
The deployment function we have on @Streak, where, while shooting orders through Deployment function, traders have to manually APPROVE the order and then only it is placed on Zerodha Kite. And, as far as streak has explained the reason for the same in the past., it is due to exchange rules that they can not allow direct order placement. So, how this other person is doing it directly?
The orders are being placed seamlessly through TradingView through Bot.
I am curious, what am I missing here? How are they doing it? @Streak@siva
Lets break down the video and understand what is happening.
Some level lines are drawn using some formula/logic on the trading view chart (on trading view site and not on zerodha chart)
The Trading view browser tabs is kept open (so that the market data keeps coming) and when the price touches the lines, a signal is generated, which is then sent to the installed browser plugin(extension).
The browser plugin (running on users PC browser) using Kite API places the order to users kite account and can cancel and modify it.
All the order firing is happening from clients system, ie the clients system need to be running and be connected to internet and trading view chart must be open in tab. Now here the order gets sent from clients system (clients IP) to the broker and then to the exchange, the regulation aspect and responsibility is now on a user running this software on their system.
Now just for helping you understand more, lets look at the cost aspect, to get realtime data on trading view chart you need to subscribe monthly for $15(approx 1067) + Kite API charges Rs2000, + the browser plugin charges for Rs. 499 = Rs. 3566/month, while you need to keep you PC running and connected to internet.
But is it however possible to bypass Order Confirmation window that indeed is required for order placement manually ?? Let it be an API but how it is placing orders without Order Placing window ?? Pls clarify.
Instead of all this complicated steps in the video and you can try this free chrome plugin to do auto order placing.
I created it and have been using for myself personally, thought of sharing it with other fellow traders, hope it helps
Install the plugin(keep updating to latest version frequently)
Log into kite in chrome
Open new tab in chrome and log into Streak
Deploy your strategy and sit back and watch, make sure not to close the tabs or close chrome .