Chartink Vishal Mehta Mean Reversion Scanner

This python script gets the stocks scanned by Mean Reversion scanner from Vishal Mehta. Once the stocks are available, it places AMO (After Market Order) in Zerodha Trading account using kiteconnect APIs.

The scanner can be located on chartink https://chartink.com/screener/vishal-mehta-mean-reversion

If available stocks are more than 10 then the stocks are sorted according to latest close price ascending and only 10 orders are placed.

How to use this repository

Get the code

Download the repository as zip
Unzip / extract it in a folder preferably on D:\trading Avoid extracting on Desktop

Installation

Install Python 3.9.4 latest version as of today (25th April 2021)
It can work on python 3.6 and above but it is not tested

Virtual Environment Creation

python -m pip install virtualenv on Windows or python3 -m pip install --user virtualenv on Linux
Go to the folder D:\trading and then create virtualenv as venv using command as python -m virtualenv venv on Windows or python3 -m virtualenv -p py3 venv on Linux
Activate the virtual environment using .\venv\Scripts\activate on Windows or source ./venv/bin/activate on Linux/Mac.
Upgrade packages using command python -m pip install -U pip wheel setuptools
pip install .\Twisted-21.2.0-py3-none-any.whl (MANDATORY on Windows, to install kiteconnect successfully.)
pip install .\TA_Lib-0.4.19-cp39-cp39-win_amd64.whl (OPTIONAL on Windows)
pip install -r requirements.txt (NOTE : There is issue while installing pandas on python 3.6.9 downgrade pandas version to 1.1.5)

Important

Before running the script, it is very important to generate the enctoken.txt file which is used in config.py file
There are 2 ways to do this
1. Copy Paste the enctoken from Zerodha Web Session using Chrome DevTools, check images in useful snapshots
2. Another way to do this is to run the login_and_generate_enctoken.py script, this must be done once. May have to run again if you invalidate the session. Run this again if you face any issues. This step will invalidate your web session if you have logged in through browser.

Running the Script

Before running the actual script chartink_kite.py you must create .env file same folder
Copy the .env.example file or rename it to create a new .env file in the same folder
Change the values for USERNAME, PASSWORD and PIN with your own credentials
Finally you can run the script using python chartink.py or python3 chartink.py

Note

Some lines are commented since this code is not tested in Live Market
Stop Loss for the Strategy is not implemented in the script, 3% Stop Loss recommended by Vishal Mehta, people have posted that 4% works better but some people keep Stop Loss based on their own Risk e.g. 2% to 2.5%
Similarly, Target or Profit must be kept accordingly to your own Risk Management. Vishal Mehta recommends 6% while some keep it at 4.5%
Also, some people exit when the overall MTM / PnL reaches approximately 5% or 6% of invested capital.
More images will be added in future. Please check existing images.
Coding is still in progress, for any suggestions please open discussions here.

Useful snapshots

Cloning repository, creating virutalenv and installing packages
Activating Virtual environment venv
Installing all requirements from requirements.txt using pip
Below images there is an error which occurred because the session was expired. New enctoken was added to enctoken.txt file
Getting the enctoken from the kite dashboard using Chrome DevTool. Copy paste it to enctoken.txt This will help to keep both web session running and script execution will not invalidate web session
Kite dashboard orders page before placing AMO orders.

Executing script and checking output in console
Finally checking the orders on the kite dashboard

kumars99/chartink_kite_amo_mean_reversion