**** UPDATE ****

Trailing Stoploss logic update

Quantiply will now consider the high and low made by the traded symbol within the trailing frequency interval time frame, instead of checking if the trailing stoploss condition is fulfilled at the closing price or end of the trailing frequency interval time frame.

For example:
If suppose the settings for the Trailing frequency interval is set to 30 seconds, then the algo will now consider the high price and low price made my the symbol/traded instrument instead of directly checking if the trailing condition is being fulfilled at the end of the 30 seconds, with the closing price.

This update will enable faster and more precise trailing of the stoploss.
This change in logic has been published and will be effective immediately

**ANNOUCEMENT FOR IIFL USERS**

IIFL users can now directly credit (pay in) or debit (pay out) funds from TTBLAZE WEB & MOBILE APP (XTS API system) from the Backoffice tab. No need to transfer funds to IIFL's in house TTWEB terminal

***UPDATE***

Entry & Exit time

You will now be able to see an entry and exit time under the average entry and exit price respectively

NOTE: This timing is the timestamp when the order update with average entry price and exit price is received from the broker. It's not the same as the exact execution time. Both timings are the same 99% of the times. This time will be changed to execution time in one of the future updates

When a broker's API is down, and new orders are not getting executed..

- Previously placed SL Limit or Limit orders, will get executed normally, as these orders are already in the exchange's system. But since the API is down, your Quantiply dashboard will not be able to show order updates ie. average exit price & time of the executed order, at that time

- Trailing of SLs will not work, SL limit/limit orders will not get modified with the new SL, once the API is back online, the already placed SL orders will get trailed to the latest SL directly.

- Individual leg target and MTM based SL or Target orders which the algo fires at the time, will throw errors and have to be monitored and managed manually from the broker's terminal. Once the API is back online, the algo will immediately fire orders if the trade has crossed the MTM Target or MTM Stoploss.

- If the trade has been managed manually or exited completely while the API was down, then you need to Terminate the algo as well. This is because when the API is back online, and any Target or SL conditions get fulfilled, the algo will try to exit orders. To avoid any unwanted orders being fired the algo should be Terminated if all the positions have been exited earlier

⚠️ IIFL USERS can update to the latest mobile app versions:

iOS: https://testflight.apple.com/join/VOssI4bd

Android: download attached .apk file

NEW FEATURE LAUNCH

POSITIONAL TRADES

With Quantiply, you can now carry forward positions to (1) the next day, (2) till expiry or (3) specific number of days before expiry.

RELEASE NOTES:

I. Select Trade type - Positional to configure a positional or carry forward trade.

II. There are 2 options to select the Duration of the trade:
1. STBT/BTST (Sell today buy tomorrow/Buy today sell tomorrow): This option will square off positions the very next day. ie. the positions taken today will be squared off the next day.
2. (N) days before expiry: This option will allow trades to be carry forwarded all the way till the expiry day or a specific number of days before the expiry day.
For example: with setting N = 0 days before expiry, the algo will square off the positions on the day of the expiry. With setting N = 1, the algo will square off the positions 1 day before the expiry day, and so on.

III. Setting Check condition next day after (time): The algo will check all SL, Target conditions and place orders only after the time given under this setting the next morning, for all days, for the entire duration of the trade.
For example: if the time is set to 09:30:00 then the algo will check if any or all SL or Target conditions are met and square off orders only after 09:30:00 on the next trading day. This setting can be modified even when trade is active during market hours and off market hours.

IV. Trailing frequency interval setting has been moved to under Advanced Settings.

V. It is advisable to set Check condition next day after (time) to something later than 09:17:00 to avoid any early morning API errors from the broker, as the broker’s systems are going through heavy loads in the first couple of minutes at market open.

VI. While the trade is active, if you modify the Duration setting from (N) days before expiry to STBT/BTST, and if the trade has already been active for more than 2 days and crossed the day 2, the algo will immediately square off positions upon changing from (N) days before expiry to STBT/BTST.
For example: If a trade is taken on a friday with (N) days before expiry setting 0, and on Tuesday or Wednesday, one were to change the Duration setting from (N) days before expiry to STBT/BTST, the algo will immediately exit all positions as Monday which would be the STBT/BTST exit day, has been crossed.

POSITIONAL TRADES

RELEASE NOTES {Continued..}:

VII. Special case error: In the case where one of the days in the week is a trading holiday, the end day or (N) days before expiry setting will have to be set appropriately, or the algo will throw a runtime error just when the orders are fired at the start time.

For example: If Thursday is a trading holiday, and expiry is on Wednesday, then the setting for a position opened on Friday which is to be exited on Monday will have to be N = 2 days before expiry and not N = 3.

In the case this error occurs, you will see a error warning icon on the homepage next to the algo, and an error message under the End day setting on the algo configuration page. Upon changing the setting (ie. reducing the days) the algo will immediately fire the entry orders.

⚠️All positional users need to make sure that broker login is done before 8:55 AM. The positional algos from previous days will not work if broker login not done before 8:55 AM⚠️

⚠️ Lower premium selection: ⚠️

Please note that for NIFTY and BANKNIFTY, you might not get extremely low premiums, like for example if your setting is premium<6 for Nifty, as the last available strike which is 14750PE has a premium of ~8, the algo will not be taking positions as the condition of premium <6 is not fulfilled

Solution: Keep premium based entries settings something like premium > 6 ie. premium more than 6, so that it can take the next best strike with premium closest to but higher than 6

Please note the available symbols for Nifty and Banknifty for today on Quantiply:

BANKNIFTY:
33400CE - 42400CE
30900PE - 39400PE

NIFTY:
15150CE - 19650CE
14750PE - 18150PE

The algos will and can read prices and take positions only for the above symbols, so best to keep premium based entry settings as ‘premium higher than’ instead of ‘premiums lower than’ for days with higher premiums like Fridays and Mondays

⚠️ For errors related to price outside circuit limit, place SL orders manually ⚠️

This error will keep coming till circuit limits are not updated at the exchange. This error can also come for Positional algos where next morning one of the side's premium has decayed substantially and the SL order being placed by the algo based on the previous day's SL setting is outside circuit limit. A solution is to reduce SL settings so that the SL price is within circuit limits shown in the error message.

To modify SL settings, you will have to remove the SL completely and make it none (for the leg that is giving the error), and again modify the SL settings with SL in % or Points much closer

⚠️ Announcement from IIFL: All IIFL users, please delete old version of your XTS mobile app and install the updated one shared below:

https://workdrive.zohoexternal.com/file/cxgb2fb0a15ae891e480994913f80f4f1f134

iOS app link will be shared later today

⚠️ Announcement from IIFL: All IIFL users, please delete old version of your XTS mobile app and install the updated one shared below:

iOS: https://testflight.apple.com/join/VOssI4bd

DUPLICATE OR DELETE MULTIPLE ALGOS:

You can now duplicate or delete multiple algos at the same time.

NOTES:

For duplicating multiple algos:
1. Add text before or after the algo name. This text can be useful to differentiate between existing algos and duplicated algos. It can come very handy when you are duplicating algos temporarily to another day, for example, when Wednesday is an expiry day, if Thursday is a trading holiday. Add text setting can also be left empty while duplicating multiple algos.
2. Duplicate multiple algos to a specific day or multiple days at the same time.
3. Select client ID/broker: If you select a client ID/broker while duplicating multiple algos, all the duplicated algos will have that selected client ID/broker applied. If you DO NOT select a client ID/broker while duplicating multiple algos, then the existing client ID/broker selection, if any, will get applied to the duplicated algos.

For deleting multiple algos:
1. Unlike earlier, you can now delete disabled algos during market hours.
2. Algos cannot be deleted when they’re in the following state during market hours: Trade Active, Trade Closed, Ready. You can delete only Disabled or Enabled algo(s) during market hours. If an algo is in Ready status, you can disabled it and then delete.

Main use cases for this feature:
1. Thursday is a trading holiday, and you want to trade all your expiry day strategies on Wednesday. In this case, the Thursday algos (strategies) will have to be duplicated to Wednesday, and then these duplicated algos can be deleted after market hours on Wednesday.
2. You’ve added a new client id to your Quantiply account, and need to duplicate & run all the same algos (strategies) being traded on another client ID/broker.

Tips:
1. Use the search filter to narrow down on multiple algos you want to duplicate or delete.
2. Use the Select all filter to filter algos by statuses.
3. Group algos by renaming it with a common text, so it can be easily filtered using Search. Eg. Add client ids, day, or strategy name or type as additional text in algo names.

🔔 NEW FEATURE ANNOUNCEMENT 📣

RE-ENTRY

This feature allows the re-entry of positions that have exited upon hitting the Stoploss.

RELEASE NOTES
(⚠️Check your email for examples with images⚠️):

I. Re-entry types:

1. RE COST (Re-entry at Cost ie. re-entry at original average entry price):
After the SL hits, if the price comes back to the original average entry price, the algo will re-enter the same leg/symbol. If the original position was a Sell, then the re-entered position will also be a Sell. The same SL or Target settings will get applied upon re-entry.

Example: A PE Strike was sold at 200 premium with SL setting 10%, ie. SL price 220. If the SL hits, the algo exits the leg at 220. If the price were to come back to the average entry price of 200, the algo would re-enter the same strike/symbol ie. a Sell position would be taken in the same strike/symbol.

2. RE COST REVERSE (Re-entry at cost but reverse position):
After the SL hits, if the price comes back to the original average entry price, the algo will re-enter the same leg/symbol but in REVERSE. ie. If the original trade was a Sell, then the re-entered leg will be a Buy. The same SL or Target settings will get applied upon re-entry. If this re-entered buy leg were to hit SL, and price were to come back to the average entry price, then the algo will again re-enter but in Reverse ie. the re-entered leg will be a Sell. For this type of re-entry, the leg will keep alternating between Sell & Buy every time it re-enters.

Example: A PE Strike was sold at 200 premium with SL setting 10%, ie. SL price 220. If the SL hits, the algo exits the leg at 220. If the price were to come back to the average entry price of 200, the algo would re-enter the same strike/symbol but it would reverse the direction ie. instead of Selling the same strike/symbol, the algo would Buy the same strike/symbol.

3. RE ASAP (Immediate re-entry if the SL is hit):
As soon as the SL is hit, the algo will re-enter. If the strike level changes as per the leg setting, the latest strike will be selected for re-entry. In this case, if the original leg was a Sell, then the re-entered leg will also be a Sell. The same SL or Target settings will get applied upon re-entry.

Example: An ATM strike of 37400 CE was sold at 200 premium with SL setting 30%, ie. SL price 260. If the SL hits, the algo exits the leg at 260, and the algo immediately checks the latest ATM based on the underlying, in this case the underlying’s price was 37460, then the ATM strike of 37500 CE is selected and a new Sell position is taken in 37500 CE.

4. RE ASAP REVERSE (Immediate re-entry if the SL is hit, but reverse the position):
As soon as the SL is hit, the algo will re-enter but in reverse. If the strike level changes as per the leg setting, the latest strike will be selected for re-entry. In this case, if the original leg was a Sell, then the re-entered leg will be a Buy. The same SL or Target settings will get applied upon re-entry. For this type of re-entry, the leg will keep alternating between Sell & Buy, every time it re-enters.

Example: An ATM strike of 37400 CE was sold at 200 premium with SL setting 30%, ie. SL price 260. If the SL hits, the algo exits the leg at 260, and the algo immediately checks the latest ATM based on the underlying, in this case the underlying’s price was 37460, then the ATM strike of 37500 CE is selected and instead of Selling the leg, it will reverse the direction and take a Buy position in 37500 CE.

5. MTM RE-ENTRY - Square off & re-enter (Re-enter if the combined premium SL (or MTM SL) is hit:
When the MTM SL hits, the algo will immediately square off all legs and open new positions in all the legs. It is possible that the strike prices change or stay the same, based on the latest price of the underlying and the leg configuration settings.

Example: An Iron Condor is sold with the following positions, Sell 37400 CE, Sell 37400 PE, Buy 37500 CE, Buy 37300 PE with an SL set to Rs. 2000. If the SL hits, the algo will select the latest strikes as per the legs configured in the settings and the underlying, and immediately re-enter the Iron Condor. Based on the underlying price and legs configured, the strikes re-entered may or may not be the same.

6. MTM REVERSE RE-ENTRY - Square off, reverse positions & re-enter (Re-enter reverse positions if the combined premium SL (or MTM SL) is hit:
When the MTM SL hits, the algo will immediately square off all legs and open new positions in all the legs but in reverse. If the original positions were a Sell, then the re-entered positions would be Buy. For this type of re-entry, the legs will keep alternating between Sell & Buy, every time it re-enters. It is possible that the strike prices change or stay the same, based on the latest price of the underlying and the leg configuration settings.

II. Other Settings:

1. Number of times re-entry setting:

<Check your email for the image>
With this setting, you can define the maximum number of times re-entry should happen. You can individually define max no. of re-entries for each individual leg and MTM re-entries.

If a value of ‘2’ is given for this setting, it will mean that the position will be taken a total of 3 times, ie. (1 x original entry) + (2 x re-entries).

A maximum of 20 re-entries is allowed, if a max limit were to be set. But, if “No max limit’ setting is selected, the algo will re-enter any number of times, the re-entry condition is fulfilled.

Refer to the image below. <Check your email for the image>. Let’s look at an example where Individual leg re-entries and MTM SL re-entries, both, are configured in an algo, let’s see the example of CE leg which is sold, in this case, 39400 CE, which has been given a maximum number of re-entries setting of 2.
Here, upon taking positions, the 39400 CE leg hit SL, and re-entered once. That will be considered as re-entry 1. Later, MTM SL got hit and MTM re-entry condition was fulfilled due to which all original positions were squared off and a re-entry happened in all legs. This MTM re-entry will not be considered a re-entry for the individual leg 39400 CE which had a setting of maximum 2 re-entries.
A little later, 39400 CE’s individual SL is hit, and a re-entry condition is fulfilled and it re-enters. This individual re-entry of 39400 CE will be considered the 2nd re-entry, post which if SL were to hit, then a 3rd re-entry will not take place for this individual leg. But in case if MTM SL Re-entry had a maximum number of times re-entry of 2, then all the legs including 39400 CE will re-enter as an MTM re-entry along with the other legs. In short, MTM SL re-entry does not include or count an individual re-entry.

2. Re-entry time settings:

a. Re-entry only after (time):

In the above example, re-entry will take place only after 11:15:05. Even if the Re-entry condition is fulfilled before 11:15:05, the algo will not re-enter. If SL is hit before 11:15:05, then the position will be closed for the whole day, the leg will not re-enter even after 11:15:05.

b. Re-entry only before (time):

In the above example, re-entry will take place only before 14:30:00. Even if the Re-entry condition is fulfilled after 14:30:00, the algo will not re-enter. If the SL is hit after 14:30:00, and the re-entry conditions are fulfilled, even then the leg(s) will not re-enter.

c. Re-entry between (time):

In the above example, re-entry will take place only between 11:15:05 and 14:30:00. If the SL is hit before 11:15:05 or after 14:30:00, the positions will be closed for the day. Even if the SL hits between the above set time, but the re-entry condition is fulfilled before 11:15:05 or after 14:30:00, the algo will not re-enter positions.

Points to remember (Re-entry feature):

1. Once the trade is active Re-entry type setting cannot be modified, but, maximum number of re-entries setting, can be modified.

2. For MTM SL, the values set in the MTM SL section will be considered as SL, if this SL is hit, then the re-entry condition will be checked. If you want your max loss in a strategy to be 6000 only, then you can set the SL value and no. of re-entries accordingly. In the below (Image) example, if SL value is set to 2000 and max re-entries is set to 2, it means the (1 x original entry) + (2 x re-entries) may make up for a max loss of 6000, after which the algo will completely exit and close the entire trade. Refer image below:
<Check your email for the image>

3. Re-entry orders will be fired ONLY when re-entry condition is fulfilled, even if Entry/Exit order type is Limit/SL-Limit. The algo will not place re-entry Limit/SL-Limit orders right after the original or previous SL is hit.

4. The re-entry feature can work along with Move SL to Cost feature.

5. The Re-entry feature cannot work along with the Wait & Trade feature in this release. In the next release Wait & Trade will be enabled to work with the Re-entry feature.

6. Once the positions are taken by the algo, you can see that each leg is color coded with a color strip in the Status column. This color coding helps differentiate between unique open positions and the positions re-entered.

⚠️ Functionality Update ⚠️

Move SL to Cost can now be used along with Wait & Trade

Move SL to Cost works only when 2 opposite side legs are open simultaneously. When 1 side SL hits, the leg(s) of the other side will have their stoplosses moved to cost.

In the case of Wait & Trade, if only one leg is open, and it’s SL hits, and later if the other side leg also enters, the SL that gets applied will be it’s original SL as configured in the settings.

In short, SL’s can be moved to cost only when 2 opposite side legs are open simultaneously and one side hits the SL.