After we have launched our trading API to address the novel requirements of the Algo trading fraternity, we are delighted to announce the launch of FYERS API Bridge in succession to the API. With the launch our of API Bridge, algorithmic trading is going to be much easier since you will be able to deploy your trading strategies on the most preferred platforms like Tradingview, Amibroker, MT4 etc with zero knowledge about programming and fire orders as per the trading signals directly to your account with FYERS and manage your positions efficiently on the API Bridge.
As per our interactions with the clients and the queries we address through support tickets, most of the traders are not fully aware of the API bridge and its unique functionalities. Also, we find that many traders are reluctant to shift from a discretionary trading setup into new age Algo trading. We, in collaboration with Algoji, took this effort to simplify Algo trading and make it accessible to retail traders. Let’s look into the fascinating aspects of FYERS API Bridge and its functionalities.
What is the FYERS API Bridge?
FYERS API Bridge is a lightweight and easy to use portable application. It can be integrated with the FYERS order management engine through our Trading API to place orders or requests from the front-end charting/Algo platform/Python etc.
A great analogy is to think of an API Bridge as an interface. You need to interact with it to feed information (transmitting trade alerts from the platform) and in return place/confirm a specific order or access orderbook and Tradebook etc. Basically, the API bridge acts as a connection between the front-end charting/Algo platform or an alert generating platforms such as Amibroker, TradingView, MT4 and the order matching engine. The interface connection is extended using a trading API.
Here’s a simple diagram to explain how the front-end platforms interact with the API Bridge.
Why did we launch API Bridge?
Since the commencement of algorithmic/programmatic trading, it has drawn attention from all strata of the trading fraternity because of its broad functionality and possibilities. However, retail traders in India have not been able to implement systematic trading properly for various reasons such as lack of reliable APIs, robust and lightweight API bridge, proper support to begin with and so on. Our technology-first approach enables us to simplify and extend the reach of Algo trading to the retail trading community in India.
If we look at any backtested strategy results or ask Algo Trading practitioners, we can easily infer that Algo Trading opens up an array of possibilities to make profit more consistently over the discretionary style of trading as it largely nullifies the sentiment-based trading decisions, where most of the trading crowd goes wrong. To imbibe the way of rational trading and manage risk effectively is quite a cumbersome task for many of us but we hope the efforts we put in to manifest simplified solutions will definitely help traders to a great extent.
Who is it useful for?
FYERS API Bridge facilitates the Algo Trading in the most simplistic way as you can send trade alerts to OMS with smooth order execution without any delay. The platform like Amibroker or Tradingview unlocks the power of Programmatic or Algo Trading since you can code your algorithm/strategies using AFL (Amibroker Formula Language) in Amibroker or Pine script in Tradingview. Also, you can deploy your conditional Algo straightway through any of the platforms for signal generation.
Traders who want to shift their discretionary trade setup, they can deploy their strategies easily in Amibroker or Tradingview. Moreover, in Tradingview you can generate trade alerts on the basis of the indicators or oscillators values by providing certain conditions. For instance, If you follow a simple RSI indicator on SBIN symbol, then deploy your own strategy like when RSI value is greater than 28 generate a long entry signal, whenever the said condition meets “Buy” alert will pop-up and send to API Bridge to execute. In the bridge, you can define a few parameters under the Symbol settings like order type, product type, target and stop-loss etc. Also, you can use Bridge to manage your risk in terms of max order per minute, max trades per day or daily max loss i.e. it allows you to manage risk both at a strategy level and global (account) level. Another significant advantage of integrating FYERS API is you can trade “ABC” symbol via alerts generated by the “XYZ” symbol, which is very useful when you trade in Index option and you are away or difficult to keep an eye on it.
Which platforms is it useful for?
FYERS API Bridge can be integrated with the most popular platforms like TradingView, Amibroker, MT4, Ninja Trader, Python, C#, Excel VBA etc. The integration is easy and simple for all the platforms and you can send signals to the Bridge through any front-end trading/charting platform.
Here’s a snapshot of the FYERS API bridge dashboard
API Bridge Functionalities
API Bridge works on the signal or alerts generated, you can deploy complex algos using Tradingview’s extremely simple web charting. FYERS API Bridge allows you to control all the parameters of the trades starting from the one click login to firing order and the account level live risk management. Following are the exclusive functionalities of the API Bridge –
- Zero Programming Efforts
- Order Management
- Trade Management
- Risk Management (Trade and Account level)
- Strategy Management
- Tradingview integration through Google Chrome Extension
- Paper Trading Mode for testing
- Auto square-off
- App and API logs
- Order Notifications on Phone and Email
With the aim of reducing the cost of technology for retail traders, we have decided to provide the API bridge at a negligible price which can be easily sustained in the long-run. You can check out our pricing and subscribe to the platform here. We’re going to announce some exciting offers soon to further reduce the cost of using the API bridge. Stay tuned!
How to Get Started:
- Request access to FYERS Trading API.
- Subscribe to the API Bridge here.
- The subscription will get approved on the next working day and you will receive the login credentials to your registered Email ID.
- Download the API Bridge here.
- Integrate your chosen platform and run your trading strategies!
We have taken this initiative to empower traders to adopt a more systematic approach by enabling them to eliminate emotions from the process of making trading decisions. I hope that this has far-reaching effects on your performance and that it will benefit you in more ways than one. If you need any further questions or clarifications, you can write to us in the comments section below. I will try and respond at the earliest. For quick information, you can visit our dedicated section of support articles for the API Bridge.
Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.