Zerodha Streak

Zerodha Streak is one of the prime examples of how using technology can make the life of a trader much easier. Technology is used as an enabling mechanism across different industries and sectors bringing ease and convenience to the user.

As far as trading is concerned, different stockbrokers are using technology in improving their trading platforms, customer support, research quality, and other related aspects.

Zerodha, a leading discount stock broker in India, has invested a sum of ₹2.25 Crore in an algo-trading based Fintech company, Streak.

This investment is done through Rainmatter, the investment incubator from the discount broker.

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“Around 40% of the equity trades in the stock market are getting placed by the usage of algo-trading globally. That is huge!”

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Now, we know that Zerodha is one of those stockbrokers in India that keeps an exhaustive focus on technology and it can be seen through some of its high-performance trading platforms including Zerodha Pi, Zerodha Kite and so on. 

At the same time, it keeps on collaborating with small start-ups that work on specific Fintech products including Zerodha Smallcase and now Streak.

However, to use this, you will need to open a Demat account with Zerodha.

Zerodha Streak Review

In this review, we will walk through the basic review of Zerodha Streak and how you can actually use it in your trades.

Zerodha Streak is a cloud-based semi-automated algo-trading platform integrated with the major trading platforms i.e. Zerodha Kite.

This is a web-based application, thus implying, you do not need to download or install any software to use Streak.

You can access it through any browser such as Mozilla, Chrome, or Internet Explorer. Furthermore, this platform allows you to trade on stocks, options, commodities futures, and currencies futures listed on the National Stock Exchange only (NSE).

For easier understanding, let’s take an example.

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Let’s say Vijay is an intra-day trader and has recently started trading in the stock market. In order to make consistent profits, he has to stay glued to the terminal screens for the most part of the trading sessions.

Now, this used to be fun at the start, but now with time, it takes quite a bit of toll and gets exhausting, thereby affecting Vijay’s hit rate in his trades. Furthermore, there are instances where his emotional biases come into play and he plays subjectively rather than staying objective in his trading decisions.

One way out is that he learns to code and also gets access to super-cool algorithms that can assist him to quicken up his trading decisions while keeping them completely objective. Now, this can be termed as close to impractical for most of the traders including Vijay.

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This is where tools such as Zerodha Streak come into the picture that does not require you to perform any coding or have knowledge of any trading algorithms on your own. 

With Zerodha Streak, you just need to input your strategy in terms of few input values based on your preference.

The usage of these trading tools basically requires you to follow 3 steps, including:

• Create
• Backtest
• Deploy

In other words, Vijay or any trader basically needs to input specific values about the trade, validate the results of the algorithm based on historical performance & market data and then deploy the trade, if it seems profitable.

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Zerodha Streak Mobile App

This algo-trading platform is available in the mobile format as well for Android and Apple Devices too. The mobile app works pretty much in the same way as it operates through its web-version.

This is how the Zerodha Streak mobile app looks like:

The dashboard consists of various aspects for easy monitoring of your investments and the market movements. The following things can be checked on the home screen of the application:

• Live Portfolio
• Orderbook
• Live-Strategies, Scanners, and Paper Trading
• Offers, if any.
• Discover – Strategies, Scanners
• Top Movers
• Tutorials

The profile tab of the mobile application looks like:

At the same time, here are some of the concerns this mobile app carries:

• Usability of some of the features of this app can be improved. For instance, there is no ‘Delete All’ option in case the user needs to delete all deployed algos in one go.
• In rare situations, the back-testing flow may stop working due to high-traffic instances, slow internet connectivity.

This is how the app is rated at the Google Play Store:

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Zerodha Streak Features

Every trading platform has a range of features that make it easy to use and better than its counterparts.

Since its launching, Zerodha Streak has had some very distinguishing features. After the latest updates rolled out by the stockbroker, the Zerodha Streak new features must be discussed in detail. So, let’s begin!

Zerodha Streak Technicals

Observing particular financial security in detail is necessary to reduce or avoid losses and risks involved. It is cumbersome for an individual to calculate and compare multiple stocks before investing.

It is even more difficult if the trader or investor wishes to check multiple ratios and indicators. Zerodha Streak in its feature known as Technicals provides the trader with multiple values related to the analysis of the stock.

You can create a personalized list of stocks to compare and check the analyzed data for each one of them. You can add and remove the stocks with ease and this enhances your experience.

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Zerodha Streak Strategies

Zerodha Streak has a ‘Strategies’ page that lists all the strategies you have employed on your trades.

This application allows you to form your own strategies wherein you can select the indicators, stocks, and entry and exit points. It helps you to deploy strategies as per your choice. In addition to this, you can add multiple entry and exit points.

It helps in knowing the outcomes of the strategies and evaluating them before deploying in the real market situations by backtesting them.

Once the strategies are created, you have the option to save them or deploy them. You can make as many changes as you wish while the strategy is not deployed or in the saved list titled as – ‘My Strategies’.

Once deployed live in the market, a strategy cannot be edited or deleted. Thus, you are advised to be completely sure before deploying any strategy.

However, you can stop your live strategy and then make any desired changes.

The app also allows you to check the current state of all trades you have taken and monitors your Target and Stop Loss for all positions simultaneously.

A look of this feature has been shown below:

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Zerodha Streak Scanner

You get to use a discovery tool named ‘Scanner’ within Streak. It allows you to filter out the top-performing stocks based on the query you have put it. You can also create personalized scanners to keep an eye on the desired stocks.

The results will fulfil your criteria and then the best possible stocks across Equity, Commodity, and Currency markets will be displayed to you to take any further action. You will find information about the security like Bearish or Bullish, Candle Patterns, Range Breakout, etc.

The scanner is a unique feature added in the mobile application to make it easier for the trader or investor to search the relevant stocks. The process of finding the stocks that match your requirements from the vast options in the market is simplified.

You may use Heiken Ashi and Candlesticks to analyse the trend of the scanned stocks. Further, you can convert a scanner to a strategy if it works for you. The Scanner features looks like this:

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Zerodha Streak Download

Zerodha Streak is available in two formats – Web-based and Mobile. In the case of the web version, there is no need to download and install but for the mobile version, you need to download the mobile application. (Android, iOS)

The application is available for Android and Apple users. Thus, an Android user can download it from the Google Play Store and iOS user can download from the Apple Store. 

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Zerodha Streak Kite Login

The login process for Zerodha platforms has been simplified by allowing login through the Zerodha Kite credentials. As soon as you open the application, you’ll see a few cards. Click on next until you reach the login page.

Here, you have two options. If you are an existing user, you can login with the set of credentials you use for Kite. If you are new to this platform, fill in the necessary details, and sign up for the credentials.Once the registration process concludes, you can use the received User ID and password to login into Streak.

The login page looks like this:

 

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How To Use Streak?

As mentioned before, you need to follow three simple steps. Now, within these 3 steps, there are some specifications you need to take care of.

To start with, you need to create an algorithm within Zerodha Streak and for that, you can use any of the technical indicators (that you can further customize) or available trading signals by entering your enter and exit signals. This can be done for multiple stocks at the same time.

While you are providing inputs, you need to select aspects such as charting intervals in the range of 1 min, 5 min, 1 hour, 1 day etc depending on your trading preferences. At the same time, you need to enter the target price and stop-loss percentages as well.

Remember, no need to put in monetary values and just percentages will do.

Once you create, you can backtest the results by viewing the results and further, editing some of the key metrics in order to meet your requisite returns.

However, make sure whatever editing you do with metrics such as stop-loss percentage, target profit, candle interval etc, you must stick with those numbers with the chosen stocks.

Otherwise, it will only kill the purpose of the usage of Zerodha Streak itself.

The backtesting results provide you with information on maximum gains, maximum loss, average gain per winning a trade, the average loss per lost trade, maximum drawdown etc.

With these results in front of you, you can gauge the performance of the trading strategy without actually putting in any capital from your end.

It also gives you insights into the kind of profitability and risks associated with your strategy.

Finally, post-testing you can deploy the algorithm live in the market or deploy it for paper trading at intraday or overnight order positions.

Zerodha Streak comes back into play and monitors different stocks movements at the same time, based on the kind of algorithm you have set up. Once the criteria are met, you are provided with a notification in your browser.

This is the time, you can finally go ahead and place your order (buy/sell).

Zerodha Streak Support

The facility of customer care is essential as it is an important aspect in enhancing the customer’s experience. Zerodha provides you with multiple channels of reaching out to them. They are tabulated below:

 

For more details about this, you can check customer care.

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Zerodha Streak Price

This algo trading tool comes with different pricing plans with corresponding features and time period of accessibility.

There is a free trial plan as well that lasts 7 days and you do not need to pay anything to access this tool. These are the features you get to access in this free trial:

If you are a beginner level trade, take a free trial, see how much money you are actually going to put in your trades. Based on the kind of returns you make, you may choose to use this tool.

Furthermore, if you choose to pick any plan, here are the features you get to access:

Each of these plans come with the following charges:

 

If you choose to subscribe to the monthly plan, these charges will be directly deducted from your Zerodha Trading Account.

For 3 months, 6 months, and 12 months subscription you can make payment using the credit and debit card. 

Since there is a 7-day trial provided by the platform, it is suggested that you should have a detailed view of this application during this period.

With this trial, you will get a reasonable idea on whether this algo-trading application suits your needs or not.

Then, based on your trading experience (beginner/intermediate/expert), your investment objectives etc, you may decide on which variant of this tool to go ahead and subscribe for (or not subscribe at all).

Some of the features that have recently been made available on this platform are:

• New indicators have been added like the nth candle, Choppiness Index, Donchian Channel, Ichimoku Cloud, and more than 70 such indicators.
• You can use multi-time frames strategies.
• Deployment for 3 days and 7 days – previously, users had to deploy their strategies every day. However, they have introduced a new feature whereby strategies can be deployed for multiple days at one go. 

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Zerodha Streak Disadvantages

Here are some of the concerns you must know about Zerodha Streak and take your decision accordingly:

• Streak doesn’t support multi-legged or hedging strategies that involve trading in multiple instruments,, currently.
• The mobile application is not designed for tablet users.

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Zerodha Streak Advantages

At the same time, here are some of the merits of this algo-based trading application that are offered to the clients of Zerodha:

• You do not need to learn any coding to use this platform in your trades.
• There is no requirement of you understanding how algorithmic or algo-based trading works. It is just a matter of inputting a few values based on your trading preferences.
• Few login related issues were observed such as broken dashboard screen, slow loading/performance etc in the version 3 while this has now been resolved in the updated version 4 of the Streak application. 
• Suitable for Beginner to Intermediate level traders since it is very easy to use algo-trading applications.
• You can put an intraday or Overnight carry order using this algo-tool.
• The results calculated are based on the historical performance of the stocks chosen.
• No need to learn the tool separately and can be directly used through its integration with Zerodha Kite.
• You get regular notifications of all features – Scanners, and strategies.
• The User Interface and navigation through the application is very simple.
• In your profile, you can check the number of open orders, executed orders, billing plan, and other such information.

In case you are looking to have a word with the executive and want to know more about account opening, you can provide the details here.

 

More on Zerodha

If you wish to learn more about this discount broker and its different offerings, here are a few references for you: