The second most requested feature on Sensibull is the ability to exit all positions when the underlying index (i.e.NIFTY, SENSEX, etc.) goes above or below a certain level. We are therefore excited to roll out the new ‘Conditional Exit’ feature on Sensibull’s Positions page for all Zerodha users which helps with exactly this.
Here’s are demo videos where Sensibull’s Sagar explains how this feature works in detail, in both desktop web as well as Sensibull mobile app.
Desktop web demo:
Mobile app demo
If you prefer reading on rather than watching a video, let’s illustrate how this feature works with an example.
Let’s say you have a ‘Bull Call Spread’ in your positions as shown below. You might want to auto-exit your positions if NIFTY were to fall by 1%. To do this, access the ‘Conditional Exit’ button from Sensibull’s positions page.
On Sensibull Mobile App, this is accessible from the drop-down actions for each index, in the Positions screen as shown below:
You can now access Sensibull’s Conditional Exit modal. You can set 2 orders to trigger when NIFTY goes down 1% from its current value. These will execute in the same sequence as you specify in this modal.
And here’s another cool thing. Wouldn’t it be nice if you could see your approximate P&L when NIFTY reaches that level you’ve set? To see this, switch the tab on the top right to access the ‘Payoff’ screen:
On this tab, you can see the approximate P&L when NIFTY reaches your target level. You can even click on the payoff graph directly to set your exit level.
A note of caution though: this can change based on market conditions (i.e. implied volatility) at the time of your exit, and the exact date on which you exit.
Behind the scenes, this feature is powered entirely by Zerodha’s ‘Alert Triggers Order (ATO)’ feature, and is hence only rolling out to Zerodha users for now. Furthermore, we have limited its availability to just NSE and BSE indices due to liquidity considerations. Which means this will not work on individual stocks (such as SBI, INFY, RELIANCE etc.) for now.
We’re excited for you to try out this feature. Feel free to leave a comment telling us if you like this, and if you want to see any other functionality added to this.
(P.S: The most requested feature is a button that just generates profits auto-magically :P)
Great Feature. Very useful. It would be great if we could also exit based on P&L.
Ham yah features demo mein dekhna Chahte Hain
It’s really nice. Request you to able more on this like exit & open new leg also.
close all positions when max profit/loss reached, add this feature it will be useful
wonderful. i did not ask for it but was wishing something ato was available. indeed it will be great if you can add gtt feature as well.
why dont u make an estimate of IV to show assumed PNL during conditional exit, and remaining days to expiry. thankyou
It would also help, to provide an exit when the profit target is achieved for the statergy group.
make provision to set stop loss based on the bearable loss… i.e. if any trader can bear a loss of 2000/- (SL), then he must enter the amount as an SL so that your system can auto set (set SL in terms of options premiums which could restrict loss up to 2000/- only) his SL for the trade (decide premium values of the complete trade)…
DEAR SIR
PLZ ADD ON CHART *COUNTDOWN BAR CLOSE IN CANDAL CHAT.
THANKS
Nice feature. Eliminates the need for some chart level alerts and manual orders. Can you add P&L condition to the feature?
Great feature! New feature request:
Feature 1: Auto-delete conditions when removing a position.
Feature 2: Have a conditional exit when profit or loss reaches an INR value.
Great feature. Can you please add exit based on P&L as well?
It would be beneficial to add profit and loss as conditions too. Currently, it only supports Nifty level as conditions.
Can we expect this feature in EQ stocks as well ?
Please make this feature available for stocks f&O
THIS PROVISION SHOULD BE THERE AT THE TIME OF EXECUTION OF STRATEGY
This is a good condition but no use with Zerodha as it is not allowing to exit market orders.
It would also be better if you may introduce conditional exit on the basis of combined profit or loss
Team,
Indeed this is a great feature and I have started using it.I have a suggestion if you can add Trigger and Execution separately (based on Candle closed on specific time) .For example I would like to trigger order if price move above/below to specified price in 15 mins.time frame, however execution will only happen if Candle close above/below specified price.That will be additional help .
Thanks
AN EXIT BUTTON BASED ON P/L IN AMOUNT TERMS FOR A WHOLE STRATEGY (2 LEG/ 3 LEG/ 4 LEG/… /) WILL BE REALLY GREAT. AND I BELIEVE YOU CAN DO IT.
If you can add a feature where the positions automatically close at a particular time of a day that would be great. So people who are doing a job which cant be stopped in between can benefit. I am a surgeon. I find difficulty in trading a calendar spread if get caught in a surgery. Auto square off facility will be a great help for people like me.
can we set this for stock futures as well or stock options ?
Zerodha ATO is unreliable as sequence is often not followed ( i set buy first and sell second still many times zerodha ato mistimes resulting in margin error in sell order)
As a trader who primarily uses Iron Condors based on IVP and theta decay, I really appreciate the Conditional Exit feature. However, I have one important suggestion — please add an option to exit all open legs of a strategy when the combined P&L reaches a desired target (either profit or loss).
Currently, exiting based only on index level doesn’t suit time-based strategies where the market may stay in range, but theta gives us our edge. A single “Exit All” button tied to P&L will be a great help to avoid manual intervention and lock in profits or limit losses.
Looking forward to seeing this enhancement soon!
Please introduce conditional exit basis of combined profit or loss.
How to use your app
We want for stocks also
G
Conditional Exits based on P&L would be an excellent feature to add