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Add Leg

What is Add Leg?​

The Add Leg action allows users to enter a position in the Futures, Options, or Cash segment for the selected symbol.
This action is triggered when a condition is met, executing a BUY or SELL order with configurable parameters.

1. Trade Configuration​

Segment​

  • Defines the market segment:
    • OPT (Options)
    • FUT (Futures)
    • CASH (Equities) (if available for the symbol)

Transaction Type​

  • BUY – Places a buy order.
  • SELL – Places a sell order.

Option Type (Only for Options Segment)​

  • CE (Call Option) – Buy/Sell a Call option.
  • PE (Put Option) – Buy/Sell a Put option.

Quantity​

  • Defines the trade quantity in units, not lots.
  • Example: If NIFTY’s lot size is 75, setting quantity to 75 is equivalent to 1 lot.

2. Strike and Expiry Selection​

Strike Selection (Only for Options Segment)​

  • Strike at / Moneyness:

    • ATM (At The Money)
    • 1-10 OTM (Out of the Money)
    • 1-10 ITM (In the Money)

  • Premium Above:

    • Selects the strike (CE or PE) whose premium is just above the entered value.

  • Premium Near:

    • Selects the strike (CE or PE) whose premium is nearest to the entered value.

  • Premium Below:

    • Selects the strike (CE or PE) whose premium is just below the entered value.

Expiry Selection (For Options & Futures)​

  • Expiry Type:
    • Weekly
    • Monthly
  • Expiry Number:
    • Current (Nearest expiry)
    • Next (Following expiry)

3. Target and Stop Loss​

Target​

  • Set as Percentage (%), Fixed Value (₹), or MTM (Mark to Market).

  • Measured from the entry price, not the executed price. The percentage and fixed value target is calculated on the entered price.

  • MTM Target:

    • Based on the net profit or loss for the added position/leg.
    • If net MTM profit crosses the specified value, it triggers a Square Off of the selected position/leg.

  • Execution Logic:

    • For Buy Orders: Uses the high price to track the target.
    • For Sell Orders: Uses the low price to track the target.

    In Backtesting: Target is checked using high/low of the candle.
    In Live Deployment: Target is checked on tick data.

Stop Loss​

  • Set as Percentage (%), Fixed Value (₹), or MTM (Mark to Market).

  • Execution Logic:

    • For Buy Orders: Uses the low price to track stop loss.
    • For Sell Orders: Uses the high price to track stop loss.

  • MTM Stop Loss:

    • Based on the net profit or loss for the added position/leg.
    • If net MTM loss crosses the specified value, it triggers a Square Off of the selected position/leg.

    Tip:
    For accurate backtesting, set Stop Loss & Target above 10%.
    Backtesting uses 1-minute data, and price movement (high/low) is unknown without tick data and for live it uses tickdata.

4. Trailing Stop Loss​

How It Works​

  • Automatically adjusts Stop Loss when the trade moves in your favor.

  • Triggered when the price moves by X% or ₹, trailing the SL by Y% or ₹.

    Example:

  • Buy at ₹100, SL at ₹80.

  • If Trail X = 1%, Trail Y = 1%, SL updates as follows:

    • When price reaches ₹101, SL moves to ₹81.
    • When price reaches ₹102, SL moves to ₹82.

    Live Deployment: Trailing SL is checked using tick data.
    Backtesting: Trailing SL is checked using high/low of the candle.

5. Re-Entry Conditions​

Re-entry happens after the close of a 1-minute candle after SL/Target is hit, not immediately.

Re-Entry on Target​

  • ASAP – Re-enters as soon as the previous trade hits target.

  • ASAP Reverse – Re-enters with the opposite trade type after hitting target.

  • Cost – Re-enters when the price returns to the original entry price.

  • Cost Reverse – Same as Cost, but with the opposite trade type.

  • Action - Re-enters based on a specific user-defined condition or trigger, such as a signal from another indicator or strategy event.

    Re-Entry Max Value: Can be set between 1 - 20, allowing up to 20 re-entries.

Re-Entry on Stop Loss​

  • ASAP – Re-enters as soon as the previous trade hits stop loss.

  • ASAP Reverse – Re-enters with the opposite trade type after SL is hit.

  • Cost – Re-enters when the price returns to the original entry price.

  • Cost Reverse – Same as Cost, but with the opposite trade type.

  • Action - Re-enters only when a custom condition is met after the previous trade hits stop loss.

    Re-Entry Max Value: Can be set between 1 - 20, allowing up to 20 re-entries.

6. Wait & Trade​

This feature delays trade execution until a certain price movement occurs.

Types of Wait & Trade​

  • Value Up / % Up – Executes trade when price moves up by a set value/percentage.

  • Value Down / % Down – Executes trade when price moves down by a set value/percentage.

    Example:

  • Current price = ₹100

  • Wait & Trade = 5% Up

  • Trade will only execute when price reaches ₹105.

    Live Deployment: Wait & Trade is checked using tick data.
    Backtesting: Wait & Trade is checked using high/low of the candle.