Many traders use technical indicators to plan their trades. It would be very useful if Zerodha could provide alerts based on technical indicators like : Price crossing below the 200 EMA, 50 EMA crossing above the 200 EMA, RSI crossing below 70, etc.
This feature could become even more powerful when combined with ATO.
Traders could set ATOs based on these alerts to automatically place orders when entering or exiting trades based on indicator signals.
Furthermore, it can also be used as a trailing stop-loss. For instance, setting an alert for Price crossing below 20 EMA linked to a sell order can act as a trailing stop-loss. Similar logic can be applied using other indicators like Supertrend.
This feature has immense potential to simplify and automate trading strategies.
Is Zerodha already working on such a feature, or are there plans to implement it in the near future?
To begin with this comes under full algo trading which is not allowed to be provide by brokers for retail traders.
One can use streak for free to get alerts based on technical indicators, can check this.
Also they are revamping their pages such a way that it will be very easy and in simple english to create any alert in coming days.
Trailing stop loss is fine and it can get approved as it help user in safeguarding profit, we also will offer it in coming days but in a different way.
I understood but we believe streak is more well equipped to offer this than us.
