I don't have proper idea about API, Can anyone help me out how it will useful for my trading in fyers?

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1

I don’t have proper idea about API, Can anyone help me out how it will useful for my trading in fyers?

2

Hi Niteesh,

I’m happy to help you with your question.

What is API?
It stands for Application Programming Interface and serves as a bridge to connect between software systems for communication.

Imagine ordering food through a mobile app. The app uses an API to send your order details to the restaurant’s system. Then, the restaurant’s system employs another API to send confirmation and delivery updates back to the app.

In a similar scenario, the food delivery app tracks delivery agent’s location using a Map API (provides by Google Maps).

In the trading context, APIs enable you to automate trading/investing based on predefined rules. And also it is used for obtaining live market data such as prices, volumes, and market depth and placing, modifying, canceling orders and many more. Please visit FYERS API page:

FYERS API has documentation to simplify API integration process, Link: https://myapi.fyers.in/docs

Over 100 fintech companies are integrated with FYERS API, expanding access to FYERS through their platforms.
Check out this link of top integrated platforms,

FYERS API is loved by many users, few them have made tutorials also. Here are a few links for reference:

https://www.youtube.com/watch?v=RoT1DVXvnT4

https://www.youtube.com/watch?v=J5GhpB574XM

https://www.youtube.com/watch?v=D93cgFhMeRQ

https://www.youtube.com/watch?v=DVhsih9JeNg

I hope this answers your question. If you have any further queries or feedback, please feel free to ask.

3

Hi Niteesh,

Just to add on to what Mr Naresh said.

API can help you do automatic trading. So instead of logging on the fyers portal, we can trade it automatically using API. Some of the things that you can do from API is:

  1. Get historical data and create strategies

  2. Get live tick data

  3. Place, cancel and modify orders that you have placed

  4. See your margin and details about your account.

  5. Create fully automated systems using Excel/Python and run full strategies.

You get different types of data from the APIs such as Open, High, Low, CLose, LTP, OI, Volume, etc. Using these data points, you can create results of different indicators at your end.

And finally, while Fyers front end is very stable, in the unlikely event of fyers front end website not working, your trading can keep going on with the APIs.

Good luck!