Zerodha Streak Review - Algo Trading for Retail Investors

Published on Thursday, April 8, 2021 by Chittorgarh.com Team

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Zerodha Streak Review - Algo Trading for Retail Investors

Zerodha Streak is a simplified algorithm-based trading tool for retail traders. Streak does not require coding skills. It uses technology to help traders to create, back-test, and deploy their technical trading strategies. It is a good algo trading tool for ordinary traders.

Streak helps individual clients to trade systematically in stocks, commodities, and currency futures. Zerodha Streak tool uses Zerodha's API to execute the orders internally.

Streak is a 3rd party product offered by Zerodha. It helps to make a trader's life easy as it tracks the markets for them without requiring them to continuously track the market movements and wait for the right price to enter and exit.

Algorithmic trading (algo trading) uses a computer program (algorithm) with predefined trading instructions. It sends the buy/sell orders to the exchange automatically based on the trading strategy defined in the program. Generally, algo trading requires adequate coding knowledge. However, Streak is the retail algorithm-based trading platform that does not require coding skills.


Zerodha Streak Features

Ever since the launch of Zerodha Streak, the app is continuously being evolved and Zerodha is now out with the latest version of Streak 4.0 with a bunch of features added.

  • Zerodha Streak platform supports more than 80 technical indicators.
  • Zerodha Streak allows to add upto 5 conditions for entering into a strategy.
  • Zerodha Streak offers Paper trading that gives a good hands on experience to the beginners.
  • Zerodha Streak provides a Discover feature that has strategies published by Streak for educational purposes.
  • Zerodha Streak has Scanner that helps a user with stock selection.

 

Zerodha Streak Dashboard

 


How does Zerodha Streak Work?

Zerodha Streak works in three steps which are;

  1. Create
  2. Backtest
  3. Deploy

1. Create Zerodha Streak Strategies

Create is the process in which the user inputs some required parameters to build a trading strategy. To create a trading strategy, you need to;

  1. Select the stocks you want to trade in
  2. Enter the stop-loss value
  3. Enter the target profit percentage
  4. Pick and type out the technical indicators.

The most important part in creation stage is understanding the technical indicators and choosing the best that suits your strategy. Ensure to use the assistance while entering the conditions that can help you input your parameters properly for the algos to work well.

The following parameters need to be entered to create a Strategy;

  • Scrip/Instrument

    Select the stock, commodity, or currency futures from NSE.

  • Candle Interval

    A candlestick chartis a financial chart that describes price movements of a stock, derivative contract, or currency future. Each candlestick typically represents one day. Candlestick charts can also be built using intervals shorter or longer than one day. You have to choose from the available candle intervals in Zerodha Streak.

  • Position

    Define if you want to buy or sell a stock or instrument.

  • Quantity

    Specify the number of equity shares or future lots for the strategy.

  • Indicator

    Specify the condition in a trading strategy in 3 parts:

    • Indicator1 - A Technical indicator from over 70 options offered by the Streak platform.
    • Comparator - A logical comparator such as higher than, lower than, etc.
    • Indicator2 - This is the indicator that is compared with Indicator1. For example, a value such as a number.
  • Stop-loss and Target profit percentage

    Enter the stop-loss and target profit percentage, to plan the entry/exit and risk of the strategy.

  • Strategy name

    Give a unique name to your strategy. The strategy name once saved, cannot be changed.

 

Create Zerodha Streak Strategies

 

2. Backtest Zerodha Streak Strategies

Zerodha Streak Backtest means to apply a set of rules to historical data to check the effectiveness of your trading strategy in generating profit Zerodha Streak has a powerful backtesting engine that quickly generates performance metrics for multiple stocks and claims to run the fastest backtest in the world.

Once you run a backtest on the strategy created, the following process is triggered;

  • The algorithm fetches historical market data for each stock/contract
  • It initializes all the parameters defined in your strategy
  • Hypothetical trades are performed using the hypothetical initial capital

You can adjust and modify various input parameters defined during the create strategy stage on the backtest page.

 

The backtest results include;

  • The profit and loss (P&L) curve
  • Maximum gains/losses
  • The average gain per winning trade
  • The average loss per losing trade
  • Maximum drawdown (Max DD) - Max drawdown measures the highest decline in the P&L curve at any given point in time

These metrics show your algorithm's performance before you deploy it in the market.

 

Backtest Zerodha Streak Strategies

 

Note: It is important to understand the backtest results properly that can tell if the algo worked as expected. The algo is said to have worked well when;

  • The maximum drawdown is between 1 to -1.
  • The number of wins are more than number of losses.

The trading signals indicate the number of times the algo conditions have been met during the selected period. If the back test results are not satisfactory, optimize the strategy by adding/editing the entry strategies by choosing the right indicators.

3. Deploy Zerodha Streak Strategies

In the Deploy stage, you can bring into effect your trading strategy live in the stock market.

Once deployed, Zerodha Streak tracks the price movements for all the stocks/contracts in a trading strategy. It sends one-click actionable alerts when all the conditions of the strategy are met in real-time. This eliminates the need to manually track the trade.

Zerodha Streak offers two Deployment type

  • Live Trading

    It sends an actionable alert if the strategy conditions are met.

  • Paper Trading

    Deploying strategies in the Paper-Trading mode allows the user to check the performance of the strategy without risking any actual capital. It is a form of virtual trading using your strategy.

 

Deploy Zerodha Streak Strategies

 

Note: Deploying a strategy doesn't mean it would get auto-executed. The user needs to act on the notification received within 5 minutes failing which, the strategy applied will get elapsed.


Zerodha Streak Discover

The Discover feature has strategies published by Streak for educational purposes. It is available on the dashboard of the Zerodha Streak platform.

The Discover feature gives users details of various back-tested sample strategies. It shows the performance of selected top-performing strategies across sectors.

Users can search and filter strategies based on the type of strategy they want. One can edit the strategies by changing the pre-defined parameters (like candle interval, quantity, stop loss percentage, take profit percentage) to optimize them.

These strategies can be backtested to check their performance. If the user is satisfied with the backtest results he/she can immediately deploy the strategy in the live market.


Zerodha Streak Scanner

The Zerodha Streak Scanner is a discovery tool that helps a user with stock selection.

To use the Scanner, a user has to enter his/her conditions and select the group to be scanned (Nifty50, Banking, Healthcare, etc.). You can save each scan with a unique name for future reference.

The Scanner scans across thousands of stocks and instruments (currencies and commodities) to match the user's search requirements.

When you run a query in the Scanner, it generates a list of instruments that match your conditions. You can directly trade in the stocks/future contracts that have met the scanning criteria or view their technical summary.

You can create a custom basket to monitor a few scrips from the scan result. You can also create a strategy directly from the scan results.

Key highlights of the Zerodha Streak Scanner

  • 40+ indicators
  • Advance Math Functions
  • Lightning speed results
  • My scans - A list of all the scans that the user has created/copied, and saved.
  • Popular scans - A list of 72 sample scans made for bullish (the market is experiencing an upward price movement) and bearish (the market is showing a downward price movement) trend.
  • Custom Basket

Zerodha Streak Demo

 

 


Zerodha Streak Pricing (monthly)

Validity 1 Month 3 Months 6 Months 12 Months

Basic Plan

Rs 500

Rs 450

Rs 400

Rs 350

Premium Plan

Rs 900

Rs 810

Rs 720

Rs 630

Ultimate Plan

Rs 1400

Rs 1260

Rs 1120

Rs 980

Note: Zerodha offers 7-days free trial for Streak. In this plan, you get the following benefits;

  • 50 Back-tests per day
  • 50 Scans per day
  • 5 Live deployments at a time

Zerodha Streak Plans

Zerodha Streak has three paid plans.

  1. Zerodha Streak Basic Plan
  2. Zerodha Streak Premium Plan
  3. Zerodha Streak Ultimate Plan
  Basic Plan Premium Plan Ultimate Plan

Price per month (12 months plan)

Rs 350

Rs 630

Rs 980

Entry and Exit conditions

5

7

10

Backtests per day

200

500

1000

Live Strategies at a Time

25

50

100

Scans per day

100

Unlimited

Unlimited

Heikin-Ashi Chart

Yes

Yes

Yes

Renko Chart

   

Yes

MCX (Commodities)

   

Yes

Options (NFO-OPT)

   

Yes

Multi-Time frame strategy

   

Yes

Handholding session

No

1 hour*

1 hour*

Schedule a call with Experts

No

No

30 Minutes**

*Feature available only in 12 months validity plan

**Feature available only in 6-months validity plan


Zerodha Streak Download

Zerodha Streak app supports Android and Apple iOS devices and is available for download for Google Android smartphones and iPhone users in Google play store and App Store as per the required preference.

Steps to download the Zerodha Streak app

  • Go to Play Store or App Store.
  • Search for 'Streak - Ultimate app for retail traders'in Play Store or 'Streak Algo trade' in App Store.
  • Click on Install.

Conclusion

Zerodha Streak allows users to do algo-trading without any coding skill. It makes it easy to build your own strategies and provides back-test results to know how effective the strategies are before deploying them in live markets. However, one needs to have a basic understanding of the indicators to be used for a strategy to work well.


Read more about Zerodha


Frequently Asked Questions

  1. 1. What is Zerodha Streak?

    Zerodha Streak is a retail algorithm-based trading platform designed for traders who doesn't have computer programming skills. Streak is a 3rd party product offered by Zerodha. It is well integrated with Zerodha trading platform. It is available for a monthly fee to Zerodha customers.

    Streak allows retail individual investors to build trading strategies, back-test them and make them live without a single line of computer programming.

     

  2. 2. What is my Zerodha Streak login?

    You can login to Zerodha Streak using your Zerodha Kite login id. You can also download the Zerodha Streak mobile app from the Google Play store or the Apple App Store.

    The first time you login to Zerodha Streak on your computer, the web browser asks your permission to allow browser notifications. Please allow the notifications so you can receive alerts on your computer when the strategy condition is met.

     

  3. 3. How to activate Zerodha streak?

    Zerodha Streak is active for all Zerodha clients. You can login using your Zerodha Kite User id at https://streak.zerodha.com/ to avail of a 7-day free trial for Zerodha Streak.

    To activate all the features of Zerodha Streak, you will have to pay a monthly fee depending on the plan you choose. Streak offers 3 pricing plans to its customers.

     

  4. 4. How to cancel Zerodha Streak Subscription?

    You can cancel the Zerodha Streak subscription in the Streak Platform by clicking on "Cancel subscription"

    For Web and Android versions, you can cancel it from the billing section.

    Apple iOS users can cancel the subscription from the App Store account.

    You will not get a refund on the subscription fee if you cancel the subscription. The cancellation applies after the valid billing period. This means you can continue using the services of Zerodha Streak till the end of the billing cycle.

    For Example, if you subscribe for a one-month plan on 1st March 2021, it will be valid till 31st March 2021. If you cancel your subscription on 15th March 2021, you can still use Zerodha Streak till 31st March 2021.

     

  5. 5. Is Zerodha Streak Free?

    Zerodha Streak is a paid add-on offered by Zerodha. Zerodha customers have to pay a monthly fee based on the plan they choose to use Streak.

    Zerodha offers a free 7-day trial for Streak to Zerodha customers. In the free trial, you will have access to:

    • 50 Backtests per day
    • 50 Scans per day
    • 5 Live deployments at a time

    After 7-days, you can opt for the paid plans. Zerodha Streak Charges start from Rs 350 to Rs 1400 per month based on the plan type and validity you choose.

     

  6. 6. Can I use Zerodha Streak for options trading?

    Zerodha Streak does not support Option Contracts because the back-testing of options contracts is a complicated. Currently, Streak supports only Equity Cash and Equity, Currency and Commodity Futures segments.

     

  7. 7. Can I use Zerodha Streak for commodity segment?

    Yes, you can use Zerodha Streak for algo-trading in commodities too. Currently, Zerodha Streak offers clients to create, back-test, and deploy trading strategies for stocks, and equity, currency, and commodity futures.

     

  8. 8. Is Zerodha streak safe to use?

    Zerodha Streak offers complete control over the trading strategy you want to use. The user creates the trading strategy with the help of more than 80 technical indicators.

    The back-testing feature allows a user to test the performance of his/her trading in a virtual set-up. The back-test results may or may not be satisfactory to the user.

    Zerodha Streak allows the user to modify and edit his trading strategy multiple times before deploying it in the live market.

     

  9. 9. Is there a Zerodha Streak Alternative?

    Zerodha Streak is algorithm-based trading software for retail individual customers. It helps users to trade using technology without having any prior programming skills.

    A few other algo-trading software available in India are:

    • Square Off
    • Kuants
    • Algoji

     

  10. 10. How do I contact Zerodha Streak Customer Care?

    You can write an email to support@streak.tech for any support, feedback, or queries related to Zerodha Streak. You can also reach out to the Zerodha team at +91-8047181888.

     



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