Absolute Value in AlgoStar platform

[Rajesh Bhaskaran Nair-1697016846497]

Dear Definedge Team,

I would like to put forward a request to kindly consider incorporating the Absolute Value feature into the upcoming AlgoStar platform.

Use Case for Intraday Strategy:

When the market freezes at 9:07 AM, I initiate my ITM CE and ITM PE legs based on the Nifty value at that time.

Once the strikes are fixed, they remain unchanged until market close.

Currently, I am using a logarithmic value of 3%. The challenge with this approach is that if the market moves in a one-sided manner, the opposite leg deteriorates significantly, resulting in excessive trade executions and inconsistent stop loss values.

By deploying Absolute Value, this issue can be mitigated. If the market moves in one direction, I will already know the stop-loss in advance, which will remain constant. This eliminates the concern of frequent trades and provides greater stability in execution.

I kindly request that this suggestion be passed on to the technical team, as implementing Absolute Value could serve as an effective alternative to tick-level configuration. It would be of great help if this enhancement is considered.

Note: At present, the Ultra Scanner does not support Absolute Value.

Thank you.