Introducing OpenAlgo V1.0: The Ultimate Open-Source Algorithmic Trading Framework for Indian Markets

OpenAlgo V1.0 is an open-source algorithmic trading platform to automate your trading strategies using Amibroker, Tradingview, Metatrader, Python etc. Designed with the modern trader in mind, it facilitates seamless interactions with multiple brokers through a minimalist and intuitive user interface.

What’s really cool about OpenAlgo is that it’s made especially for individual traders – the kind of people trading on their own, using popular tools like Amibroker, Tradingview, or even Excel. It’s something you can set up on your own computer, whether you’re using Windows or Linux, giving you total control. You don’t have to worry about someone else messing with your trading or your private information. It’s all about making trading as straightforward and secure as possible for you.

OpenAlgo is like a Swiss Army knife for traders. Imagine taking all the best bits of modern tech – stuff like Python for coding, SQLiteDB for organizing data, and Tailwind CSS for making things look good – and mixing them together. That’s what we did with OpenAlgo, all thanks to the smart use of ChatGPT-4. It started as just a fun experiment but has grown into something much bigger: a tool that anyone can use for free to do their automated trading.

Key Features of OpenAlgo

• Multi-platform Automation: Directly integrate with leading trading platforms to automate trading strategies.
• Minimalist UI: A clean and intuitive interface provides immediate access to essential trading books (order, trade, position, and holdings) and API logs for streamlined operation.
• Comprehensive API Support: Enjoy broad functionality with APIs for order placement, modification, cancellation, and more.
• Multi-Broker Compatibility: Initially supporting Angel, Upstox, and Zerodha, with plans to extend to 5 Paisa, Fyers, Kotak, Dhan, and ICICI Direct and other brokers.
• Flexible Access: Utilize ngrok for custom domain support, facilitating access to the application and trading automation from anywhere.

Getting Started with OpenAlgo

For traders eager to dive in, setting up OpenAlgo is straightforward. Here’s a quick guide to get you up and running:

Installation: Clone the OpenAlgo repository and install the necessary dependencies.

git clone https://github.com/marketcalls/openalgo
cd openalgo
pip install -r requirements.txt

Configuration: Set up your .env files with your broker API key, API secret, redirection URL, and an optional custom domain for enhanced accessibility. (rename the .sample.env to .env file) to store the broker credentials and other openalgo config parameters

Launch the Server: Start the OpenAlgo server with the following command:

python app.py

For first-time setup, visit http://127.0.0.1:5000/setup or https://<your_custom_domain>/setup to create the main admin user for login.

Join the Community

Embark on your OpenAlgo journey with the support of a vibrant community. The OpenAlgo Community Support for Developers and Traders offers a platform for collaboration, knowledge exchange, and mutual growth.

OpenAlgo Roadmap

With a vision for continuous improvement, OpenAlgo’s roadmap includes exciting upcoming features like order slicing, basket orders, option orders, and much more, aimed at enhancing the trading experience and capabilities of systematic and algo traders.

OpenAlgo Roadmap for v1.25 (Apr – June 2024)

Order Slicing Feature
Place Basket Orders
Place Option Orders (Single Leg/Multi Leg)
Place Time Based Limit Orders
Place Mid Pegged Limit Orders (Slippage Management)
Integrate Realtime Websockets for Streaming Quotes
Integrate Various Brokers.

Roadmap for v1.5 (July – Sep 2024)

Build GUI Based Strategy Management (Add/Modify/Remove Strategies)
Add ChartInk Integration
Scanner Based Portfolio Level Trade Management
GUI Based Stoploss/Target Controls
Strategy Level Orderbook, TradeBook & PositionBook
Build Realtime Intraday PNL Graph

Roadmap for v1.75 (Oct – Dec 2024)

Virtual Trading/Paper Trading Integration
Plug n Play In Built Trading Strategies
Build Trade Analytics Module

Roadmap for v2.0 (Oct – Dec 2024)

Build a Fastest Backtesting Engine
Build a Data management Module for Backtesting
Build a Built Backtesting Metrics Dashboard
Run Backtest and Save Backtesting Results

Stay tuned for more openalgo tutorials on Setting up OpenAlgo, how to integrate with your favorite trading platforms, how to automate your trading strategies using OpenAlgo in upcoming tutorials