2. Subscribe to the 7-day free trial plan OR a paid plan from the <a href="https://app.quantiply.tech/subscriptions">Subscriptions</a> page.

Only once a plan is subscribed, will you be able to configure a trading account. So before moving to Step 3, it is compulsory to subscribe to a Subscription plan

3. Configure your trading account with one of the <a href="https://quantiply.tech/#supported-brokers">brokers supported by Quantiply</a>. Watch broker account configuration <a href="https://bit.ly/3hyweS3">video tutorials</a>.

5. Enable the algo(s) from the main page of your Quantiply dashboard.

6. Go through the <a href="https://app.quantiply.tech/instructions">Instructions</a> before taking your first trade.

7. Join Quantiply's <a href="https://t.me/quantiply">Telegram channel</a><a href="https://t.me/quantiply"></a> to get regular Feature updates, Release Notes, Live market Notifications and other important announcements.

8. Follow Quantiply.tech on <a href="https://twitter.com/Quantiply_tech">Twitter</a>

Go to the <a href="https://app.quantiply.tech/account-settings">My Account</a>&nbsp;page and add your address.

Go to the <a href="https://app.quantiply.tech/billing">Billing</a>&nbsp;page and purchase credits by entering an amount and clicking Buy Credits.

Once the credits are purchased, go to the <a href="https://app.quantiply.tech/subscriptions">Subscriptions</a> page and select a plan and click Subscribe under the selected plan.

It is compulsory to use the ‘Broker Login’ button to login using your trading account credentials before 8:55 AM, every morning, on all trading days.

Login should be done between 8 AM and 8:55 AM. 

If logged in correctly before 8:55 AM, the status of the enabled Algos will change to ‘Ready’ between 9:05 AM and 9:15 AM. All enabled algos will not go into ‘Ready’ status all at once. They will randomly go into ‘Ready’ status one after the other between 9:05 AM and 9:15 AM. The algos will take positions only if they’re in ‘Ready’ status.

Broker Login is compulsory as algos will not work without a login.

In case you login after 8:55 AM, your previously enabled Algo will get Disabled and you will need to Enable the algos again only before 9 AM or after 9:15 AM. If enabled, you will see the algo status change to ‘Ready’. In case, you don’t see the algo status go to ‘Ready’ within 5 seconds, you will need to Disable and Enable the algo again, till it goes into ‘Ready’ status again.&nbsp;

You can find the ‘Broker Login’ button on the top right corner of your Quantiply dashboard. On a successful login, the red key on the ‘Broker Login’ button will turn green.

Once you ‘Enable’ an algo, it stays enabled for that day of the week.

For example, if you have ‘Enabled’ an algo for Thursday, it will stay enabled and take positions every Thursday unless it is ‘Disabled’. So if you don’t want the algo to take positions on the same day of the next week, then ‘Disable’ that particular algo.

3.&nbsp;Square off and terminate algo &amp; Terminate Algo Buttons

Once the algo has taken positions, you will see two buttons, namely:

1. Square off all positions and terminate algo:&nbsp; The&nbsp;'Square off all positions and terminate algo' button will square off all open positions, cancel pending SL orders, cancel pending Wait &amp; Trade orders and deactivate the algo.

2. Terminate algo:&nbsp;The ‘Terminate algo’ button will only deactivate the algo without squaring off the open positions. All open positions have to be manually managed from your broker’s terminal, if you have deactivated the algo using the ‘Terminate algo’ button.

Note: If an algo is Trade Active, the enable/disable switch if disabled, will not square off positions &amp; terminate algo or simply Terminate algo. Enable/Disable switch cannot be used to terminate the algo. Only the Square off and terminate algo &amp; Terminate Algo buttons need to be used to shut down the algo.

Incase you manually square off all positions from the broker terminal, you should also Terminate the algo on Quantiply using the Terminate algo button, so that it doesn’t fire the Square off orders when an exit condition is fulfilled or End Time is reached.

5. Do not chnage passwords in the middle of the day. If you do chnage passwords then you have to re-do broker login (ie. re login from the broker login page on quantiply) so as to generate a new access token. This is because upon chnaging the password the api conenction betewen quantiply and trading account will expire ( in other works, access token will expire)

1.&nbsp;Enabled: An algo can be enabled using the enable/disable switch. An enabled algo will stay enabled perpetually till it is disabled. For any algo to take trades, it has to be Enabled first. An enabled algo will go into Ready state and then Trade Active state only on the particular trading day it is configured for. On all other days it will just stay ‘Enabled’. Refer to point 1 &amp; 2, on how and when algos go into Ready state. If ‘broker login’ has not been done before 8:55 AM on the particular trading day an algo is configured for, then the algo will remain in the ‘Enabled’ state.

2. Ready: All enabled algos will go into the ‘Ready’ state if broker login is done before 8:55 AM. Algos in Ready state are on standby and are waiting for the start time to fire the orders and go into Trade Active. If the algo is in Ready state, it means that it is Ready and running on the backend and will take positions at the start time. If the algo is not in Ready state, but is in Disabled or Enabled on the current trading day, then it will not take positions. Incase, broker login is done after 8:55 AM, or if any algo’s settings are modified, or and algo is repeatedly enabled or disabled between 9:05 AM and 9:15 AM, then the algo will not go into ‘Ready’ state. In that case, the algo can be disabled and enabled using the enable/disable switch at or after 9:15 AM and the algos would then go into ‘Ready’ state, and be ready to take positions at the start time.

3.&nbsp;Trade Active: At the start time, the algo will go into Trade Active state. It means that the algo has already taken positions or has pending orders which have already been fired or are about to be fired once entry conditions are fulfilled. All active Positional algos will be in the Trade Active state even after market hours, till the end day and end time. All intraday algos will be Trade Active only till the configured End time. For an algo to go into Trade Active state, it has to first be in the Ready state.

4. Trade Closed: Once exit conditions of open positions are fulfilled ie. targets or stoplosses have been executed and all positions are closed for the day, or end time has reached and open positions are squared off, the algo will go into Trade Closed state. Once the algo goes into Trade Closed, it is done for the day and cannot be re-used. All intraday algos that were Trade Active would go into Trade Closed state at the end time or after having exited all positions based on Target or Stoploss conditions.

5. Disabled: This is the default state of any algo once it is newly created. A disabled algo has to be enabled using the enable/disable switch for it to take trades on the specific trading day it is configured for. An enabled algo would go into the disabled state if the broker login is not done before 8:55 AM and would have to be re-enabled after broker login is done. All algos would also be disabled if the subscription plan has been downgraded or the number of daily algos (algo limit) has been reduced. If disabled, the required algos can then be manually enabled using the Enable/Disable switch on the main page.

5.&nbsp;Algo running / not running status added to the main page&nbsp;(marked with light green arrows in the image):

The algo running/not running status indicates the current state of the algo running on Quantiply.


The dot should be red when algo is in the following status:

The dot should be green when algo is in the following status:

Incase the dot is not green when the algo is in Ready state or Trade Active state, then the algo cannot function or manage positions. In this case, contact <a href="https://api.whatsapp.com/send/?phone=919920266899&amp;text=Hello+Quantiply+support&amp;app_absent=0">Quantiply support.</a>

6. Avoid modification or deletion of algos between 09:05 AM and 09:15 AM on trading days

Do not modify algo settings or delete algos between 09:05 AM and 09:15 AM, as algos are getting activated during this time. 

Modifications or deletion in this period may or may not take effect as expected. 

You can carry out this operation before 09:05 AM or at/after 09:15 AM instead.

7.&nbsp;Add additional algos OR Upgrade plans during market hours

You can now add additional algos or upgrade plans during market hours. Once the algo limit is increased or plans are upgraded, you will immediately have access to the additional algos.

Reduction in the number of algos subscribed or downgrade of plans will take effect after market hours only.

Be prepared for slippages. Slippages will mostly always be negative and sometimes positive. It is important to understand that slippages are dependant on the intensity of the market move, the liquidity in the order book and the position of your order in the exchange’s order queue. Technically, slippages are not related to faster execution or delayed execution of the order.

To select the Order Type (ie. NRML or MIS) for a particular leg while configuring the algo, use the NRML/MIS toggle buttons seen on the legs configuration table, on your algo dashboard.



Note: For Upstox, all option buy orders will go in NRML (DELIVERY) by default, even if MIS (INTRADAY) is selected. Upstox doesn’t allow MIS (INTRADAY) type order for Options buying.

10. Delay in receiving order updates from the broker

If there is a delay in receiving order updates from the broker after firing orders, the status for that symbol on the Quantiply dashboard will show ‘Waiting’. In this case, the order update may take an additional 10 second to come from the broker.

If the 'Waiting' status does not change to 'Open', that particular algo will not run as expected and needs to be terminated using the Terminate Algo button. Square off any partially open positions after terminating the algo.&nbsp;

11. Re-activation of the same algo is not possible on the same trading day

Once the status of the algo goes into a ‘Trade Closed’ state, the same algo cannot re-take positions for that trading day. 

1 algo can be used once per day and cannot be reset ie. the same algo cannot re-take positions again on the same day. 

In case you want to run the same algo again, you can use the ‘Duplicate’ feature available in the menu option next to the algo name and run the algo again.&nbsp;

If LTP at the time of entry is &lt;= 35250 then 35200 is the ATM.

If LTP at the time of entry is &gt; 35250 then 35300 is the ATM.

If the Nifty spot price at the time of entry is &lt;= 17175 then 17150 is the ATM.

If  the Nifty spot price at the time of entry is &gt; 17175 then 17200 is the ATM.

13.&nbsp;Strike price representation on Quantiply

The strike levels on Quantiply are represented as ITM 1, ITM 2, OTM 1, OTM 2 where,

OTM 2 means CE + 200 or PE - 200, and so on.

OTM 2 means CE + 100 or PE - 100, and so on.

The Premium Matching functionality for entries works only for the configured legs, and is not applicable for matching of premiums throughout the entire Option chain. 

To enter strikes based on specific Premiums, use the Premium based Entries option that can be found in the drop down box which shows ‘Legs’ on the legs configuration table, on the algo configuration page.

Read more: <a href="https://quantiply.tech/documentation/features-trade-logic/premium-matching-functionality/">https://quantiply.tech/documentation/features-trade-logic/premium-matching-functionality/</a>

15.&nbsp;Maximum number of orders per second

Most broker APIs have a rate limit of 10 requests per second. This means that in a single second you can place only 10 orders or 10 cancellations or 10 modifications or any combination of 10 requests only, per second. If you are firing multiple algos at the same time, it would be advisable to set the start time and end time of each algos a few seconds apart to avoid crossing the 10 requests/second limit. For example, if you have 6 separate algos, each algo selling a Call and a Put, configured for the same time, which makes it 12 orders for the same time. In this case, only 10 orders or 5 algos will get executed, the 6th algo will not get executed and go into an error state. And so, to avoid this error, set the start time for each algo a few seconds apart, if in case your algo or algos are going to trigger more than 10 legs or trades together.

16.&nbsp;Avoid using the same API subscription on different algo systems

Do NOT use the same API subscription (ie. the same API key and API secret on multiple algo platforms at the same time. If you are using a particular API subscription on Quantiply, then do not use it on any other algo platform or personal algos. Create a new API subscription incase you want to use a different algo platform or algos on the same broker account.

Getting started

What are the various trading features on Quantiply?

You can now enter positions in strikes with premiums close to a specified premium value. This feature scans the entire Option Chain to select an appropriate strikes as per the specified premium value set by the trader.

ATM% functionality allows the algo to select strikes which are certain percentage away from the ATM strike.

1. First the ATM strike is derived after checking the spot price

2. The +/- % value set by the user is then calculated from the ATM strike to derive the strikes for entry.

1. Suppose current spot price is 42442.25. The ATM strike is&nbsp;42400.

2. Supposed ATM % setting given by the users are as follows:

I. Example 1:&nbsp; ATM + 0.5% CE

Closest strike to&nbsp;42612 is&nbsp;42600, so strike selected will be&nbsp;42600 CE

II. Example 2: ATM + 1.5% PE

Closest strike to&nbsp;43036 is&nbsp;43000, so strike selected will be&nbsp;43000&nbsp;PE

III. Example 3: ATM - 0.5% CE

Closest strike to&nbsp;42188 is&nbsp;42200, so strike selected will be&nbsp;42200&nbsp;CE

IV. Example 4: ATM - 1.5% PE

Closest strike to&nbsp;41764 is&nbsp;41800, so strike selected will be&nbsp;41800&nbsp;PE

This functionality allows the algo to select strikes for entry based on the distance calculated from the ATM based on the straddle width setting.

1. First the ATM strike is derived after checking the spot price.

2. Straddle price is calculated, ie. the premiums of ATM CE and ATM PE are summed up to get the total premium.

3. Straddle price (total premium) is multiplied by the straddle width setting defined by the user to get the straddle width value, which is then added or subtracted to the ATM strike to get the nearest strike to enter.

1. + / - ( + for selecting strikes higher than the ATM strike and - for selecting strikes lower than the ATM strike).

1. Suppose current spot price is&nbsp;40023.&nbsp;The ATM strike is&nbsp;40000.

2. If ATM CE premium is 222 and ATM PE premium is 273, then the total straddle premium would be ATM CE premium + ATM PE premium&nbsp; = 495.

3. If the user has given a straddle width setting of 0.5, then the straddle width value will be 495 x 0.5 = 247.5.

4. This straddle width value is added or subtracted from the ATM strike price based on the settings defined by the user: &nbsp; &nbsp; &nbsp;(a) Setting for CE: ATM + 0.5

&nbsp; &nbsp; &nbsp; In this case, ATM strike + straddle width value,

&nbsp; &nbsp; &nbsp; Closest strike to&nbsp;40247.5 is&nbsp;40200, so strike selected will be&nbsp;40200&nbsp;CE.

&nbsp; &nbsp; &nbsp; (B) Setting for PE: ATM - 0.5

&nbsp; &nbsp; &nbsp; In this case, ATM strike - straddle width value,

&nbsp; &nbsp; &nbsp; Closest strike to&nbsp;39752.5 is&nbsp;39800, so strike selected will be 39800 PE.

Using this functionality the algo selects strike prices for entry with premium that are close a calculated percentage of the total ATM CE &amp; PE premiums.

Logic/method:<a href="https://quantiply.tech/documentation/features-trade-logic/entry-logic-atm/#Logic%2Fmethod%3A"></a>

3. A percentage of this total premium is calculated based on the percentage setting configured by the user.

4. Once the premium is derived, strikes with premiums close to or higher than or lower than this calculated premium are selected for entry.

1. Close to / Higher than / Lower than selection.

3. If user has given a setting of&nbsp; ~ 50% SP, then the entry premium is calculated as 50% of 495 =&nbsp;247.5.

4. Finally, a strike price which has premium close to&nbsp;247.5 will be selected for entry.

5. Similarly, if user selects higher than or lower than, then the strikes selected will have premiums higher than&nbsp;247.5 or lower than&nbsp;247.5 respectively.

When any individual leg or individual open position hits a stoploss, the original stoplosses of all other open legs of the opposite side strikes get revised to cost ie. the stoploss is revised to the average entry price of those opposite side legs.&nbsp;

In a strategy with 2 legs - Sell CE &amp; Sell PE. If Sell CE hits stoploss, Sell PE's stoploss will be revised to cost (ie. entry price).

In a strategy with 4 legs - Sell CE, Sell PE, Buy CE and Buy PE. If Sell CE hits stoploss, Sell PE's stoploss and Buy PE's stoploss will be revised to cost (ie. entry price). Buy CE's stoploss will NOT get revised to cost&nbsp;(ie. entry price).

This stoploss revision works only on individual legs and not on the combined premium stoploss.

Other scenarios where Move Stoploss to Cost is used with other features:

How to take Positional / Carry forward trades on Quantiply?

With Quantiply, you can carry forward positions to:

(3) Specific number of days before expiry

What is the Premium Matching functionality?

This functionality allows the entries to be executed only when the specified entry conditions provided under this functionality, match for configured legs.&nbsp;

So, in an algo if a Straddle (sell ATM CE &amp; sell ATM PE) is configured to be Sold, and one or more of Premium Matching conditions is applied, then the algo will enter only when those Premium Matching entry&nbsp;conditions are met for the ATM CE and ATM PE only, and no other strikes other that the above 2 configured strikes.&nbsp;

To enter with with specific premiums that scan the entire option chain, refer to the functionality&nbsp;<a href="https://quantiply.tech/documentation/features-trade-logic/entry-by-premium-ca5e7bc9">Entry by Premium</a>

II. How to enable the Premium Matching functionality:

The Premium Matching option can be found on the algo under the MTM Target and MTM Stoploss section on the algo configuration page.

1.&nbsp;Select the desired premium matching setting and insert the desired value.

2. Mark minimum 2 legs (or any 2 legs in the case where there are more than 2 legs configured in a the same algo) whose premiums need to be matched.

III. Types of Premium Matching conditions:

There are 3 types of Premium Matching conditions:

1. No Matching of Premiums: (default setting)

This is the default option that doesn't apply any matching condition between the configured legs. If this option is selected, the configured legs will immediately enter at the start time.

2. Match premiums with maximum difference:

If this option is selected, the positions will be taken in the configured legs when the difference between the premiums of the strikes are equal to or less than the percentage value specified by the user. 

 If the specified maximum matching difference (%) value is set to 5%, 

If premiums of the legs configured in the algo have premiums close to the specified value for all legs at the same time, then the algo will enter the positions in those legs.&nbsp;

If the premiums are close to the specified value of any other strikes levels above or below the configured legs/strikes, then the position will not be taken.

Both the legs that are marked for matching should have premium close to the specified value for the positions to be taken. If only 1 leg's premium is close to the premium specified and the other leg's premium is not close to the specified value, then the entry will not be taken in both the legs.

ATM CE and ATM PE are marked for premium matching with a condition premium close to with a value 200, which means that the positions in ATM CE and ATM PE will be opened only when the premiums of both these legs are close to 200.

ATM CE has a premium of 220 and ATM PE has a premium of 180, in this case the premium close to 200 condition is fulfilled and entries will be taken in both these legs.

If, for example, the premium of ATM CE is 260 and the premium of OTM1 CE (ie. ATM+100 CE) is 160, then the matching condition for ATM CE is not fufilled, as 160 is closer to 200, than 260. At the same time, on the PE side, the premium for ATM PE may be closer to 200, than ITM1 PE or OTM1 PE, but since ATM CE and ATM PE both do no have the premiums close to 200 at the same time, the positions will not be taken, till the time the condition is fulfilled for both legs.

An upper and lower limit values are specified when using this premium matching option. At any given time after the start time, when the premiums of all the marked legs fall within the specified premium range, the algo takes the positions.

Legs marked for matching: ATM CE &amp; ATM PE

At&nbsp;9:30 AM, ATM CE premium is 120 and ATM PE premium is 160. Since one of the legs premium's falls outside the specified range, the entries will not be taken by the algo.

At 9:45 AM, ATM CE premium is 118 and ATM PE premium is 149. Since both legs have premiums that fall within the specified range, the entries will be taken in all configured legs by the algo.

What is the Re-Entry / Re-Execute feature?

This feature enables the re-entry of positions which have exited upon hitting the Target and/or Stoploss.

Re-entry &amp; Re-execute, can work on Target based exit and Stoploss based exits, both.

Understanding the different Re-Entry types in detail:

1. RE COST (Re-entry at Cost ie. re-entry at the original average entry price):

After the Stoploss hits for an individual leg, if the price comes back to the original average entry price, the algo will re-enter the same leg/symbol. If the original position was a Sell, then the re-entered position will also be a Sell. The same Stoploss or Target settings will get applied to the re-entered leg upon re-entry.

Settings given for a particular leg:

Original entry (1st entry):

2.&nbsp;W&amp;T RE-COST (Wait &amp; trade +&nbsp;Re-entry at Cost):

In this case, a Wait &amp; Trade setting and Re-entry setting is configured to run together for a particular leg(s). The initial original entry will take place as per the Wait &amp; Trade condition. Once the SL of any open leg is hit, the wait &amp; trade condition is again applied to the previous entry price. Similarly, for multiple re-entries as well, the wait &amp; trade setting is again applied to the previous re-entry price.&nbsp;

W&amp;T RE-COST&nbsp;Example:

3.&nbsp;RE EXECUTE (Re-execute entry logic immediately after hitting stoploss):

As soon as the SL of a particular leg(s) is hit, the algo will re-execute the entry logic and re-enter immediately. A different strike price may be selected for re-entry if the ATM has changed as per the movement of the underlying. In this case, if the original leg was a Sell, then the re-entered leg will also be a Sell. The same SL or Target settings will get applied upon re-entry.

RE EXECUTE&nbsp;Example:

An ATM strike of 37400 CE was sold at 200 premium with SL setting 30%, ie. SL price 260. If the SL hits, the algo sqaures off the leg at 260, and the algo runs the re-execute condition immediately. ie. checks the latest ATM based on the underlying, in this case the underlying’s price was 37460, then the ATM strike of 37500 CE is selected and a new Sell position is taken in 37500 CE immediately.

In this case, a Wait &amp; Trade setting and Re-Execute setting is configured to run together for a particular leg(s). The initial original entry will take place as per the Wait &amp; Trade condition.&nbsp;Once the SL of any open leg is hit, the wait &amp; trade and re-execute condition is again applied immediately, and a strike for the re-entry is selected. 

At the same time, it also checks the LTP of the selected strike at the time the SL was hit, and applies the Wait &amp; Trade condition to the LTP to derive the entry price, and the re-execute type re-entry is executed once the price reaches the entry price.

W&amp;T RE-EXECUTE Example:

Settings given for a particular leg:

After the Stoploss hits for an individual leg, if the price comes back to the original average entry price, the algo will re-enter the same leg/symbol. As the name suggests, if the original position was a Sell, then the re-entered position will be a Buy. The same Stoploss or Target settings will get applied to the re-entered leg upon re-entry. For every re-entry the side will alternate. If the first original entry is a Sell, then the 1st re-entry will be a Buy, the 2nd re-entry will be a Sell, and the 3rd re-entry will be a Buy and so on.

In this case, a Wait &amp; Trade setting and Re-Entry RE COST setting is configured to run together for a particular leg(s). The initial original entry will take place as per the Wait &amp; Trade condition. Once the SL of any open leg is hit, the wait &amp; trade condition is again applied to the previous entry price and the side of the re-entry is changed ie. if the previous entry was a Sell, the the following re-entry will be a Buy. Similarly, for multiple re-entries as well, the wait &amp; trade setting is again applied on the previous entry's entry price and the side is changed at the same time.

W&amp;T&nbsp;RE-COST REVERSE Example:

As soon as the SL of a particular leg(s) is hit, the algo will re-execute the entry logic and re-enter immediately. A different strike price may be selected for re-entry if the ATM has changed as per the movement of the underlying. The difference is that in this case, if the original leg was a Sell, then the re-entered leg will be a Buy, and it would keep alternating between Sell and Buy for all following re-entries. The same SL or Target as per configured settings, will get applied upon re-entry.&nbsp;

RE EXECUTE REVERSE Example:&nbsp;

In this case, a Wait &amp; Trade setting and Re-Entry RE EXECUTE setting is configured to run together for a particular leg(s). The initial original entry will take place as per the Wait &amp; Trade condition. Once the SL of any open leg is hit, the entry condition with Wait &amp; Trade applied is re-executed again. 

The reference price considered to calculate the entry price would be the LTP of the selected strike at the time the leg hit the stoploss. Along with this, the side will also be reversed, so if the previous entry was a Sell, then the re-entry would be Buy. Similarly, for multiple re-entries as well, the whole entry is again re-executed and the side is changed at the same time, alternately every time.

Note that the strike ie. the symbol the re-entry is going to take place in, can change based on the spot movement and configured legs.

W&amp;T&nbsp;RE EXECUTE REVERSE Example:

To take entries, the algo will wait for the price to go up or down from the reference price (start time price), by a set percentage or points configured by the trader for the specific legs.

The reference price is the last trade price of the configured strike captured by the algo at the start time.

III. Wait &amp; Trade with&nbsp;Limit/SL-Limit orders

If you've selected Limit/SL-Limit as Entry order type, then here's what type of orders will be placed as per the given Wait &amp; Trade settings:&nbsp;

This functionality allows entries and exits to be taken based on the movement of the underlying. Currently, this feature will work only with Nifty and Banknifty spot price as underlying.

There are 3 parts to this functionality:

I. Wait &amp; Trade entries based on Underlying:&nbsp;

The algo captures the spot price at the start time. This captured spot price at the start time is the reference price. 

Based on the Wait &amp; Trade settings, the algo calculates the spot entry price from the reference price based on the values specified in the Wait &amp; Trade settings and waits for the spot price to go up or down to the entry price. 

Once the spot entry price is reached, the algo takes entries in the configured legs.

Settings:<a href="https://quantiply.tech/documentation/features-trade-logic/wait-and-trade/#I._Settings%3A"></a>

1. Wait &amp; Trade&nbsp;checkbox:This is a checkbox under the legs configuration table that allows you to activate or deactivate the Wait &amp; Trade feature for a particular algo.

2. Trade only first entry&nbsp;checkbox: This is a checkbox under the legs configuration table that allows you to activate or deactivate a functionality which allows the algo to take only the first entry that fulfils the Wait &amp; Trade condition. This setting is selected only when Wait &amp; Trade is activated.

3. Wait &amp; Trade setting&nbsp;drop down:

The algo captures the the price of the underlying when the configured legs enter. Based on the Stoploss setting given by the trader, the stoploss is calculated from the underlying price captured at the time of entry. ie. the entry price. 

The calculated stoploss price ie. the price at which the open leg would exit would also be calculated in terms of the underlying.

When Underlying based SL is configured, the stoploss or the stoploss price (which is in underlying value) is also trailed in terms of underlying price, and NOT the underlying traded symbol.

1. Stoploss type&nbsp;dropdown:

The algo captures the the price of the underlying when the configured legs enter. Based on the Target setting given by the trader, the target is calculated from the underlying price captured at the time of entry. ie. the entry price. 

The calculated price price ie. the price at which the open leg would exit would also be calculated in terms of the underlying.

1. Target type&nbsp;dropdown:

1.&nbsp;Underlying based W&amp;T entry (I), Underlying based SL (II), Underlying based Target (III) can work with the Re-Entry feature (works with all re-entry types).

2.&nbsp;Where Underlying based Entry, Target &amp; Stoploss&nbsp;is configured, there are 3 underlying prices to understand and make note of:

- Reference price: The price captured at the start time, from which entry price is derived based on W&amp;T settings

- Entry at: This is the entry price at which entry orders are fired. This price is calculated using the reference price and the W&amp;T setting values.

- Underlying price captured when entry order is filled: This is the underlying price that is captured at the time the entry order was successfully filled. All targets, stoplosses, re-entry conditions are calculated using this price only. This price will show under the Average Entry Price and Average Exit Price columns on the Quantiply terminal, as shown in the image below.

Features (Trade logic)

Here's a list of all the advanced settings:

What is Entry order delay &amp; Exit order delay?

A delay in order placement can be added for either BUY or SELL orders for ENTRY and/or EXIT orders.&nbsp;

This setting allows you to add a delay for either BUY or SELL orders while opening a new position ie. while entering a fresh new trade.

This setting allows you to add a delay for either BUY or SELL orders while closing open positions ie. while exiting trades.

This setting instructs the algo to calculate targets, stoplosses, entry points and exit points from either the Average Entry or Exit prices at which the orders have got filled&nbsp; &nbsp;&nbsp;OR&nbsp; &nbsp; the LTP of the symbols at the time the orders had got filled.

(A) Average Entry Price (default setting): 

The algo will calculate all targets &amp; stoplosses from the average entry price (ie. the average execution price for the whole quantity or the whole order). This is the current default mechanism that all algos use.

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