How to Use Trading Software for Intraday Analysis
Intraday trading requires quick decisions, fast execution, and reliable data. Without proper tools, traders risk missing profitable setups or reacting too late. Fortunately, modern trading software makes intraday analysis efficient and precise, especially for Indian markets.
In this guide, you’ll learn how to use trading software for intraday analysis, which platforms work best, and what features to focus on.
Why Intraday Traders Need the Right Software
Intraday traders rely on minute-by-minute price movements to enter and exit positions. Using proper trading software helps you:
- Track real-time prices and volumes
- Analyze short-term trends with indicators
- Spot entry/exit signals based on technical setups
- Set alerts and execute orders instantly
Key Features to Look for in Intraday Trading Software
To succeed with intraday trading, choose software with these essential features:
- Real-Time NSE/BSE Data Feed
- 1-Min, 5-Min, 15-Min Candlestick Charts
- Customizable Technical Indicators
- Buy/Sell Alerts or Signal Triggers
- Fast Order Execution (Broker Integration)
- Multi-Chart Layouts for Multiple Stock Tracking
Best Trading Software for Intraday Analysis in India
1. TradingView (With Broker API)
- Why use it: Fast charts, mobile-friendly, supports indicators like VWAP, Supertrend, RSI, MACD
- Intraday Strategy Support: EMA crossover, volume breakouts, trendlines
- Real-Time Access: Available via brokers like Zerodha, Dhan
2. Zerodha Kite
- Why use it: Integrated with Zerodha account, live charts powered by TradingView & ChartIQ
- Features: 100+ indicators, bracket/OCO orders, market depth, real-time updates
- Strategy Tip: Use Heikin-Ashi + RSI for quick trend confirmation
3. Fyers One Terminal
- Why use it: Terminal-based desktop application with intraday tools
- Best For: Traders needing full-screen setups, faster desktop response
- Indicators: Intraday breakout signals, ADX, CCI, VWAP
4. Amibroker (With Real-Time Feed)
- Why use it: Ideal for advanced users who want to automate alerts and backtest intraday strategies
- Customization: Use AFL to code and scan live setups
- Feed Required: Connect with TrueData or GlobalDataFeeds for real-time charts
5. Chartink (Premium)
- Why use it: Visual scanning for intraday filters (e.g., “RSI crossed 70 on 5-min chart”)
- Alert System: Email/SMS alerts for custom scans
- Tip: Use scans like “volume surge + price breakout” during the first hour of trade
Step-by-Step: How to Use Trading Software for Intraday Analysis
Step 1: Choose Your Preferred Platform
Pick a tool that supports your analysis style—charting, scanning, or automation.
Step 2: Set Up Real-Time Charts
Use 1-min, 5-min, or 15-min intervals to monitor short-term movements. Add key indicators like:
- VWAP
- RSI
- EMA (20 & 50)
- MACD
Step 3: Define Entry & Exit Signals
Set rules like:
- Enter when 5 EMA crosses 20 EMA + volume spike
- Exit when RSI crosses 70
Step 4: Use Watchlists & Alerts
Track multiple stocks or sectors, and get notified when your conditions are met.
Step 5: Monitor Price Action & Execute Orders
Use your trading terminal (Kite, Fyers, Upstox) to place fast bracket orders or limit entries.
Best Indicators for Intraday Analysis
| Indicator | Use Case |
|---|---|
| VWAP | Institutional price levels & trend bias |
| RSI (5 or 14) | Overbought/oversold confirmations |
| EMA (9, 20, 50) | Trend-following setups |
| Supertrend | Trend entry/exit visual aid |
| MACD | Momentum confirmation |
FAQs
Q1: Can I do intraday analysis on mobile?
Yes, platforms like TradingView, Kite, and Fyers offer full-feature mobile apps.
Q2: Is real-time data mandatory for intraday trading?
Yes, delayed data won’t help you react in fast market conditions.
Q3: Which software is best for beginners?
Zerodha Kite or TradingView Free are user-friendly options to begin with.
Q4: Can I automate intraday alerts?
Yes, tools like TradingView Pro or Amibroker with scripts can send automated signals.
Q5: Do I need paid software to succeed in intraday trading?
Not necessarily, but paid tools offer better accuracy, speed, and customization for frequent traders.
