Automated trading underpins global financial markets. In the US, 85% of market volume is automated, but India’s share is growing to 50%. Automatic trading was previously only for institutional investors due to high costs and infrastructure requirements. With their SmartAPI platform, brokers like Angel One are making automated trading accessible to retail investors.
Key Features of SmartAPI
SmartAPI, developed by Angel One, offers a robust suite of APIs for free, aiming to break down financial barriers and enhance retail trading experiences. Key features include:
Free Access: Angel One has removed any fees associated with SmartAPI to make automated trading more accessible for retail users.
Community Support: An active SmartAPI forum connects users with community members and Angel One experts for support and guidance.
Developer-Friendly SDKs: The platform provides SDKs in popular programming languages like Python, Java, NodeJS, R, Go, C#, .Net, and PHP, making it adaptable for various user needs.
Free Historical Data: SmartAPI also provides historical data for backtesting trading strategies, enhancing decision-making capabilities without extra costs.
Types of APIs under SmartAPI
Angel One’s SmartAPI includes several APIs tailored to specific functions, each designed to streamline automated trading:
Market Feeds API: Delivers real-time data on financial instruments. It’s ideal for users needing live data for apps or alerts, such as notifying a group on platforms like Telegram or Discord based on specific trading conditions.
Historical Data API: Provides historical data for NSE Equity and NFO Futures, beneficial for quantitative analysis and strategy backtesting. Plans are underway to include NFO options data, broadening analytical capabilities.
Publisher API: Allows integration of trading buttons on external websites and apps, enabling clients of stock advisory firms to execute trades with one click. This feature is especially helpful for firms offering streamlined stock basket purchases.
Trading API: This all-in-one API consolidates the capabilities of the Market Feeds, Historical Data, and Publisher APIs, allowing for order placements, holdings, and positions monitoring. It offers fast execution (up to 10 trades per second), which is advantageous for users relying on high-frequency trading.
Enhanced Trading with SmartAPI
Flexible SmartAPI lets users create custom trading strategies. Users can request features and share experiences on the SmartAPI forum as Angel One improves the API.
Angel One will release SmartAPI beginner guides for trading automations in the coming weeks. Users can suggest topics to improve learning. Angel One helps Indian retail investors follow global trading trends by expanding access to automated trading tools.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
How to Get Started with SmartAPI for Automated Trading
Angel One’s SmartAPI assists investors in automating trades, accessing real-time market data, and building smarter platforms. It eases the adoption of automated trading by removing all technical and financial barriers for a retail investor.
Features of SmartAPI
SmartAPI prioritises the adoption of automated trading and there is a dedicated and active SmartAPI Forum to answer all the queries promptly by the community and the Angel One team. An in-house team of stellar developers, project managers, and technical SMEs work consistently to make this API more robust and bring more services to your disposal.
How to Get Started?
Log on to SmartAPI website and click on the sign up option on the top-right corner
Fill in the form with your name, e-mail, password, and your Angel One Client ID (optional)
Read the terms and conditions.
Confirm to agree with the terms and conditions and sign up for SmartAPI.
Types of API
Market Feed API: It lets you stream real time market data. This API can be used to fetch the live streaming data and showcase it on your web apps and mobile apps, create Telegram/Discord alerts to a group of users based on a particular strategy, and save the live streaming data onto your system for quantitative analysis later on.
Trading API: It lets you execute trades, manage user portfolios, and stream market data. These APIs can be used in various ways, like, placing order into your account based on your trading strategy, fetching holdings, margins, fund balances, and positions of intraday trades.
Publisher API: It lets you add trade execution-related functionalities to your buttons and interactive elements. It comes in handy if you are a stock advisory firm that wants to give its clients a single-click execution button.
Historical data API: It assists you in accessing historical market data in your application environment. It can be used in multiple ways, like, for quantitative analysis and finding patterns in the stock markets, and backtesting of strategies.
How to Create an App With Smart API?
Sign in to your account on SmartAPI website
Go to the “My Profile” section and click on the Create an app.
It will lead you to a form, where you can select the type of API you want to set up.
Once you select the type, you can simply give a name to your API, and enter the redirect and postback URL.
Click the Create App button.
You will now reach a dashboard, where you can see all your APIs, along with their statuses, API keys and secret keys.
You can edit the APIs within the dashboard by simply clicking the edit icon against the app that you want to edit.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Integrating SmartAPI with TradingView for Technical Analysis
The TradingView chart offers advanced charting software that lets you deploy multiple indicators and track the latest developments in the market efficiently. It is one of the most cutting-edge and easy-to-use charts that is available for investors of all sorts.
Angel One platform integrates all its charts with TradingView by default, which eases your access to information without any additional efforts. These charts incorporate a wide range of advanced indicators and provide crucial market updates that can assist you in making better trading decisions.
The basic and technical analysis charts of TradingView help beginners and also professional traders to make the most of these charts and understand crucial bits of information to piece together the larger picture. You can access six chart types, more than 50 intelligent drawing tools, more than 80 indicators, and other feasible tools like price series overlay and comparing symbols.
How to Customise TradingView Chart?
The TradingView Chart can be customised in several ways in order to make different technical analyses. Here is how you can seek this chart:
You can modify its date range and the timeframe.
You can change the layout of the chart view in order to view multiple charts on a screen.
You can synchronise the intervals, symbols, crosshair, time and date range among the charts.
You can add drawings and texts on the charts, including lines for Fibonacci retracement and trendlines.
Uses of TradingView Chart
It is used to analyse price and volume movements swiftly and comprehensively
It is used to analyse and compare assets efficiently using multiple charts on the same screen
It is used to trade assets directly from charts, without switching tabs
It is used to view open orders and positions on the chart web view itself
How to Access SmartAPI?
You can register for free if you are an AngelOne client and create your SmartAPI account
Once you have created your SmartAPI account, you will need to login with a built-in two-factor authentication system
Generate API key
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Algorithmic trading was earlier used by institutional investors or wealthy investors. The game is now changing fast and the retail investors are entering automated trading, algorithmic trading, and even high-frequency trading.
The SmartAPI by Angel One assists an investor in automating trades, accessing real-time market data, and building a smarter platform. One of the game-changer features of SmartAPI is algorithmic trading for investors and traders, which until now was a complex process of dealing with high-complexity programs, integrations between apps and trading execution engines, and network protocol interactions.
What is Algorithmic Trading?
Algorithmic trading is the use of predefined programs to execute trades. A trade is executed by a set of instructions or an algorithm that is fed into a computer program and executed automatically when a preset command is met. The algorithm can be based on a number of input points like timing, price, or quantity.
The SmartAPI lets you automate the execution of your trades based on the trading signals that your algorithm pushes to its trading execution engine. The algorithmic trades account for 43% of India’s stock market turnover while the global average is 75% and, in the US, automated systems account for 90% of the turnover.
Benefits of Algorithmic Trading
Algorithmic trading makes your trades faster and precise, because it executes the trade without introducing any delay between the attainment of a price point, or an indicator, and the execution of the trade.
Algorithmic trading is not based on feelings or emotional bias - instead, the trades are executed by relying on the best strategies and crunching numbers for you on a constant basis.
Algorithmic trading removes the stress of having to manually and constantly monitor the markets, and instead relies on creating and automating signals for execution.
How SmartAPI Works?
If you are not 100% sure about whether your trading strategy is actually effective or not, you can stream real-time market data and historical data to test and back-test your strategies. The SmartAPI makes critical and important functions available to you in a neatly packaged module. Smart API is available in Python, Java, R, Go, and NodeJS.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.