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The rapidly evolving realm of algo trading is no longer reserved only for Dalal Street’s seasoned experts. With technological advancements democratising trading in India, every retail trader can harness the power of automated algo trading. All you need are the right tools.
Among the frontrunners enabling this widespread accessibility is Angel One’s SmartAPI, which simplifies complex trading processes and promises to open new doors for individuals, startups, and expert traders alike. When you combine the benefits of SmartAPI with Publisher login and Non-Publisher login platforms — you get a synergistic platform that makes algo trading accessible for all.
In this article, we’ll delve into the features and benefits of Angel One’s SmartAPI and discuss how you can seamlessly integrate it into the Publisher login and Non-Publisher login platforms and up your trading strategy.
The main difference between a Publisher login and a Non-Publisher login platform are:
1. Publisher login platforms: In these kinds of platforms you just have to login with your broker account and OTP and you can simply start trading.
2. Non-Publisher login platforms: In these kinds of platforms you have to manually set up your API key and you have to change your TOTP daily.
Angel One’s SmartAPI is a revolutionary offering in the trading sector. Which allows you to interact with the Angel One trading platform and create your own rule-based trading strategies. These APIs facilitate real-time order execution in various market segments and make it easier to stream and access live market data.
Designed to simplify the complexities of trading, SmartAPI helps both beginners and experts alike. Traders no longer need to grapple with the complexities of coding to execute their strategies. Furthermore, startups and individual enthusiasts can easily venture into
algo trading without navigating the convoluted processes of brokerage licensing or becoming stockbrokers.
Angel One’s SmartAPI stands out because of the ease with which it integrates into democratised platforms. In addition to this, it also offers a range of features that cater to diverse trading requirements. Let’s take a closer look at some of the key beneficial features that make it a preferred choice for algo traders.
SmartAPI gives you access to real-time historical market data. This includes data in various segments like NSE equity as well as NSE options and futures — like the last traded price (LTP), open high low close (OHLC) values, trading volume, and open interest.
Whether you’re trading in equities, derivatives, commodities or currencies, SmartAPI ensures smooth execution of strategies and order placements across these various segments. This way, you do not have to limit your market participation to certain segments alone.
SmartAPI gives you sophisticated analytical tools designed to analyse market trends, predict future movements, and provide actionable insights. By leveraging advanced analytics, you can identify potential entry and exit points and develop strategies that align with your trading objectives.
Catering to a diverse audience of traders and developers, SmartAPI offers software development kits (SDKs) in multiple programming languages, Whether you’re proficient in Python, Java, NodeJS, C#, PHP, Go, or R, there’s an SDK for you. Additionally, a RestAPI is available, further widening its compatibility range.
To ensure you receive real-time, tick-by-tick data without any lag, SmartAPI from Angel One also comes with a WebSocket. This feature is currently available in three languages — Python, NodeJS, and Java — ensuring real-time data streaming for immediate and efficient decision-making.
SmartAPI eliminates cumbersome processes and the need to toggle between platforms. You can directly execute orders from your system instead. This immediacy not only saves you time but also ensures that you can capitalise on market opportunities as they arise.
Having the right data at the right time can be a game-changer. With SmartAPI, you get access to real-time quotes, charts, and historical prices, empowering you to make informed and data-backed decisions. This adds precision to your trading strategies and helps improve the outcomes.
Trading can be a solitary journey, but with the SmartAPI forum, it doesn’t have to be. This open forum allows traders and developers to come together, share insights, and resolve technical challenges. Whether you have a query or need some expert advice, the community is always ready to assist.
In addition to the above-mentioned features, Angel One has come out with several upgrades to the SmartAPI suite in recent months. Here is a closer look at the most important recent updates in SmartAPI and how they can enhance your trading journey.
SmartAPI now offers access to the BSE-BFO Futures and Options segment, broadening the scope of your trading on the Bombay Stock Exchange. You can place orders in the BFO segment
with ease using the detailed token list provided on the Scrip Master for reference. This update opens up new avenues to explore a wider range of derivative contracts.
With SmartAPI, you can now access real-time OHLC (open, high, low, close) data for an extensive range of 120 indices across the NSE, BSE and MCX. This gives you insights into the depth and breadth of the market and equips you with the data needed to make informed trading decisions. You can use it to keep an eye on the benchmarks or explore sector-specific indices.
Angel One has turbocharged the trading experience for SmartAPI users by doubling the rate limit. You can now place, modify or cancel up to 20 orders per second. This allows you to respond to dynamic market movements swiftly and gives you the advantage of speed and efficiency. You can seize market opportunities as they arise and gain an edge.
SmartAPI has also recently deployed the ‘Individual Order Status’ API, which allows you to get detailed information about specific individual orders. This effectively eliminates the cumbersome process of sifting through the entire order book to find the details you require. What’s more, the new API offers a generous rate limit of 10 requests per second!
To further empower traders, Angel One has rolled out the new Margin Calculator API. It supports real-time margin requirement calculations for up to 50 positions in a single request — and has an impressive access rate of 10 requests per second. With this update, you can plan your trades strategically and precisely assess the risk-reward ratio of each position.
Angel One’s SmartAPI also has a new Live Market Data API that lets you tap into a wealth of information in real-time. Choose from three modes — full, OHLC and LTP — to access detailed data points like the last traded price, price ranges, volume, open interest and more.
Depending on the mode you choose, you can also obtain other vital statistics like the upper and lower circuits, 52-week highs and lows and the best five buy and sell orders. This API also supports data from all the exchanges, making it a powerful tool in today’s fast-paced financial markets.
In another recent update, Angel One’s SmartAPI has made a significant leap forward by offering access to historical data across various market segments free of charge. They include indices, stocks, and derivatives in the NSE, BSE, BFO, MCX, and CDS segments.
This update also allows you to retrieve up to 8,000 candles in a single request, so you can obtain extensive historical insights for trading analysis. The increased limits per interval also give you the dual advantages of minute-level granularity as well as daily overviews. With such comprehensive historical data, you have the freedom to backtest your strategies effectively.
SmartAPI’s recent updates have also improved trading efficiency by significantly reducing latency. This allows you to execute your orders more quickly and smoothly. The updates also ensure that your trades are placed at the speed of the market, so you can capture opportunities as they arise and enjoy a more seamless trading experience.
With Angel One’s SmartAPI, you can quickly integrate any algo trading platform with your Angel One trading account . Here’s a handy step-by-step guide to help you understand how to use SmartAPI.
Step 1: Registration
If you’re an existing client of Angel One, all you need to do is register for the service. Once you’ve created an account, you can use your user credentials to log into your SmartAPI account and use all of its features and services.
Step 2: Two-Factor Authentication (2FA)
SmartAPI has a built-in two-factor authentication system (2FA), which triggers a Time-based One-Time Password (TOTP) when you attempt to log into your account. The 2FA system ensures security and prevents unauthorised access to your account.
Step 3: Generate API Key
Once you’ve logged into your SmartAPI account, you need to generate an API Key for the algo trading platform you intend to use.
Step 4: Read Through the API Documentation
The API documentation section of the SmartAPI webpage contains a wealth of information you can use to understand how the feature works in more detail.
The combination of Angel One’s SmartAPI with platforms with TOTP, offers a seamless and efficient solution for both beginners and experienced traders. SmartAPI’s user-friendly interface and rule-based trading strategies eliminate the complexities of coding, providing a revolutionary platform for market participants.
If you have any queries reach out to us at smartapi@angelbroking.com or join our forum page here.
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