How to create an algo based on LTP

Hi all…

I am a small retail trader presently doing paper trading/trading small quantity as a trail for entering into F&O segment.

My aim in future is to convert my trading to algo trading by using platforms like amibroker etc. I have a strategy which is based on price and volume, candlestick patterns etc. The strategy is presently being followed manually.

I have always wondered what if i can code my strategy into an algo which will reduce the long time of screening all the stocks in my watch list for signals.

My request to all fellow traders who have the expertise in coding to please reply whether the following can be coded in to an algo.

" If i want to search in all stocks in my watch list for any recognizable candlestick patterns like engulfing, hammer etc based on LTP at 3 pm by analyzing the day candle till that time".

I have checked streak, Pi etc but could not find the solution to code the above based on LTP. Streak & Pi can be used to code the above based on the closing price but not on LTP.

Is it possible to code the above into an algo by using any programming language like afl etc.

@nithin @siva @AlgoGeek @ZeroTrader @wabbits @Soumen_Sadhukhan @vishnutalanki @Nikhil_A @PavanKishore @Aditya_Bhat and all others can u guide on the above please?

Thanks in advance.

You can program anything you want you just need to have the money to hire someone, buy good datafeeds(Which are really expensive if you are a small retail trader.)

No offence, But i don’t know if you have backtested this strategy or not. Even if you have backtested this strategy using a computer system(streak or someother software). There is a very good probability that you’re strategy is just overfit. These kinds of candle strategies don’t work. Backtesting is 20% of the game and forward testing is 80% of it. And moreover strategies like these stop working in most conditions and leave you with huge losses.

Thanks for the quick reply.

My strategy is not entirely based on candlestick patterns. These CP’s form a small part of the strategy.

Can’t we do on our own if i have some knowledge in programming?

Yes you can but it takes a lot of skills to program. Especially candlesticks. Other strategies with technical indicators can easily be programmed in mql4 or python using data from kite connect or any other programming language. Or you can also use streak!!

Thanks for the reply.

Streak does not have the option to test the strategy based on LTP.

1 Like

Yes, You can code the strategy in Amibroker. If you need any help let me know. I don’t charge if it is few code snippets.
For using amibroker you need to pay for data feed if you want the system to work real time. If you want to use amibroker for testing your strategy yo can manually load the data and do it.

You can build a notification system and then take the decision manually. All are possible and I can say you are on right track.

Thats the best idea. If you do on your own if required you will be able to modify the program. Learning AFL requires very less time and very very easy.


Anything and Everything is possible once we get down to the world of programming. And this includes 1) with API, 2) with automation of terminal provided by broker, 3) with free data feeds from google finance, 4) with web scraping, 5) using google sheets, 6) amibroker etc.,

Check this blog:

Hi Revanth,

Thank you for the mention :slight_smile: though I’m not the most experienced.

Check Tradestream. They provide similar information to what you’re looking for.

In terms of coding it, I’m not aware of any free websites that allow you to do this.

You could try trading view. However the free option has limited options in terms of number of indicators & alerts.

Good Luck!

Good Work Pavan.