Benefits of ChartAlert® Charting Module

ChartAlert® Charting Module, your tool for technical analysis stock charting, will allow you to peep into the historical past and will also allow you to freely peruse the indian stock market and spot chart trends using all the well-known technical analysis indicators. While the simple and user-friendly format makes it easy for beginners and casual chartists to jump right into, they also provide all the graphical data an expert would desire.

To have a precise view of short-term stock market activity, and/or a more long-term view, ChartAlert® Charting Module offers 3 options for time intervals:

daily, weekly and monthly

One of the key benefits of ChartAlert® Charting Module is the ability to save your favourite stock charts with custom chart settings. In other words, when you bring up a new stock chart, it will appear with your preferred date range, periodicity and indicator settings already applied! These customizations are easily created and managed, and most importantly, make ChartAlert® Charting Module unique to you.

Marking significant price points, applying analyst-moderated channels and trendlines (for 120+ F&O porfolio of stocks), drawing (end-user or) custom line studies (for all stocks), applying Elliott Wave price labels (for 20+ F&O porfolio of stocks), applying Japanese Candlesticks pattern screener (for all stocks), running technical indicators-based scanner or screener (for all stocks), or applying pre-packaged Trading Systems (short- to medium-term; for all stocks) will be a great way to make a wise trading and investment decision.

Also see Line Studies, Technical Analysis Mask, ElliottWave Mask, Candlesticks Mask, Technical Indicator Screener and Trading Systems.

Limitations of ChartAlert® Charting Module

ChartAlert® Charting Module is purely for technical analysis charting and analysis, and all the information it provides is derived from stock price and volume data. The basic charts simply reflect the bullish or bearish psychology of a marketplace, and while they may not explicitly tell you when to buy or sell, they would help you look for signals that give hints as to what a stock is doing.

Another limitation of ChartAlert® Charting Module is that it will not predict future price movements. Technical Analysis is based on the belief that prices trend, and while there are situations where a future price trend is likely, it is never a guarantee.

However, market sentiment is not unpredictable, therefore users can take advantage of ChartAlert® Charting Module features (Line Studies, Masks, Trading Systems, etc) to make sound predictions.

Charts, Price Plots & Templates in ChartAlert®

ChartAlert® Charting Module has some very powerful charting capabilities wherein chart data can be easily edited, deleted, zoomed and scrolled. The software can also build a chart for any symbol and in any time frame, further allowing each chart to be customized with Technical Analysis studies, colors and chart types.

Charts

A "chart" is the focal point of much of what you do in ChartAlert® Charting Module. It is a visual or graphical representation of each security's prices in a single window. ChartAlert® Charting Module allows a security's chart to be contained within a single window, which is further divided into one or more sub-windows where the prices and indicators are plotted. Thus, each security's window can contain price plots, indicators, price-plot overlays, etc. in one or multiple sub-windows.

This graphical representation of a chart allows you to perform a visual interpretation of a security's price behaviour. Technical indicators or studies can be plotted on a chart to help you see what prices have done in the past, what they are currently doing, and what they may do in the future.

Since a chart displays the price movement of a specific symbol, this price data can be displayed as Bars, Candlesticks or Lines. Chart Studies and Trading Systems can also be applied to such chart windows to provide technical analysis for your trading decisions.

ChartAlert® Charting Module also allows you to zoom-in, zoom-out, scroll chart, scale the chart to a linear or log scale, activate technical analysis studies, switch chart time frames, select chart types, modify and color studies, and view a list of objects on the chart.

ChartAlert® Charting Module allows end-of-day chart data to be collected and displayed for any symbol, restricted to over 1000 NSE stocks, all NSE futures, and all the leading NSE indices. This chart data is stored in different folders on the hard disk depending on the market group, and is loaded and displayed in the chart window upon request.

Price Plots

The primary focus of a chart is its price plot. Every chart consists of a base security, which is simply a security's pricing data. There are six different styles for displaying pricing data. Each of these styles uses one or more of the four basic pieces of pricing data viz. open, high, low and close. Each of the 6 styles has unique differences that can be interpreted in various ways.

Every chart has a base security. This base security is the security or the ticker symbol that was selected when the chart was originally created. All indicators plotted in new sub-windows or as price plot overlays are calculated on the basis of the chart's base security. The base security's name is displayed in the chart's title bar.

ChartAlert® Charting Module provides 6 ways to view the pricing information:

Open-High-Low-Close Bars, Candlesticks, Line, Median Price, Typical Price and Weighted Close

The most common style of price plot is the Open-High-Low-Close or OHLC Bar.

Median Price, Typical Price, Weighted Close and Line charts require only closing prices to plot, whereas Bars and Candlesticks require all four pieces of pricing information viz. Open, High, Low and Close.

ChartAlert® Charting Module provides for several forms of price-plot overlays such as:

Bollinger Bands, DEMA, Donchian Channels, Envelopes, Ichimoku Kinko Hyo, Parabolic SAR, T3, TEMA, Time Series Forecast, VIDYA, Wilder's Smoothing, Zero Lag EMA, etc

The software also provides for overlaying the Volume study and the Volume+Deliveries study on the price plot. The delivery volume referred here is the NSE cash or spot market volume marked for delivery-based buying / selling on a given trading day.

Moving Averages, a staple indicator of technical analysis used in countless chart studies are also available as price plot overlays. ChartAlert® Charting Module allows for a maximum of five moving averages to be overlayed on a single price plot.

Templates

Templates are factory-built and/or custom files that contain all the technical analysis parameters in a chart, excluding the security data (i.e., OHLCV) itself.

When a template is applied to a security (either to an existing open chart, or at the time of loading a new chart in ChartAlert® Charting Module), the chart is re-created based on the technical analysis information contained in the template.

For example, suppose you like to analyze your securities with an MACD, RSI, Stochastics, and a 20-day simple moving average. You could save this technical analysis information in a custom or user-defined template and apply it to any other security in one quick step. The result: four technical analysis studies plotted on a chart with 1-click!

You can also create a default template that is always used when a new chart is created. Once a template has been created, it can be used over and over again.

Creating/ Modifying a Template

Since a template is created from the technical analysis information in a chart, once you've plotted your favourite technical analysis studies on the chart, simply use the Save Template command available from the shortcut menu (mouse right-click) to save the custom or user-defined template.

Changes can also be made to a template by opening (or applying) the desired template, making the changes, and re-saving the template to the same file name.

Saving a Template

Templates can be saved by using the Save Template command available from the shortcut menu (mouse right-click). Thus, retaining changes you have made to a template is simple and easy with the 1-click Save Template command. You can also save a template as the default template, which is then automatically applied to all newly created charts i.e., charts that are opened for the 1st time in ChartAlert® Charting Module.

Default Template

You can control how a newly created chart appears using the default template. This is a special template that is exactly like a regular template except that ChartAlert® Charting Module automatically applies it to all newly created charts. The default template in ChartAlert® Charting Module is shipped as a single chart with open-high-low-close price bars and volume.

Since The default template is stored in the data folder along with your other (i.e., factory, custom or user-defined) templates, it means that the default template can be applied to any chart at any time just like any other regular template!

To make the current technical analysis information available in the selected chart as the default template, right-click on that chart and simply choose Save as Default Template.

Technical Indicators in ChartAlert®

ChartAlert® Charting Module has 80+ Technical Indicators or Studies (see List of Technical Indicators below) to help analyze charts and to facilitate trading decisions. Studies can be drawn directly on a chart (overlaid on the price plot like a moving average), or drawn in one or more sub-windows (like Relative Strength Index in a separate sub-window on the chart).

Right-clicking directly on each study allows you to delete or customize the study settings, the changes of which are dynamically reflected in the chart, thus allowing you to experiment with different study settings and seeing the immediate result on the chart.

There are 2 forms of indicators in ChartAlert® Charting Module. The Price-based Indicators are always calculated using a base security's pricing data. Lastly, the Plot-based Indicators can be plotted directly on an existing plot (i.e., a price plot or another indicator plot). For example, a moving average is a plot-based indicator since it is always calculated on an existing price or indicator. If a plot-based indicator is not applied directly on a plot then it is plotted in a new sub-window and calculated using the base security.

Quick-Browse through Technical Indicators

ChartAlert® Charting Module also allows you to quickly browse through all Technical Indicators in a single sub-window instead of plotting multiple Technical Indicators in multiple sub-windows. To quickly browse through all Technical Indicators available for a chart, simply select or highlight an indicator in the QuickBrowse through Technical Indicators dropdown list on the ChartAlert® Charting Module Toolbar and browse through it!

List of Technical Indicators

The following is an exhaustive list of indicators available in ChartAlert® Charting Module:

Accumulation/Distribution Line, Accumulation Swing Index, Aroon Oscillator, Aroon Up/Down Indicator,
Average True Range, Bollinger Bands, Bollinger Band Width, Chaikin Money Flow, Chaikin A/D Oscillator,
Chaikin Volatility, Chande Momentum Oscillator, Close Location Value, Commodity Channel Index,
Coppock Indicator, Commodity Selection Index, DEMA, Demand Index, Detrended Price,
Detrended Price Oscillator, Directional Movement Index or Average Directional Index, Donchian Channels,
Donchian Channel Width, Down Average, Dynamic Momentum Index, Ease of Movement, Envelopes,
AutoFibonacci Retracement Zones, Force Index, Forecast Oscillator, Ichimoku Kinko Hyo, Inertia,
Intraday Momentum Index, Klinger Oscillator, MACD, Market Facilitation Index, Mass Index, Median Price,
MESA Sinewave, Momentum, Money Flow Index, Monthly Trading Ranges, Moving Averages,
Negative Volume Index, Net Momentum Oscillator, On Balance Volume, Parabolic SAR, Performance,
Polarised Fractal Efficiency, Positive Volume Index, Price Oscillator, Price Volume Rank,
Price Volume Trend, QStick, r-Squared, Random Walk Index, Range Indicator, Rate of Change,
Relative Momentum Index, Relative Strength Index, Relative Volatility Index, RVI - ChartAlert®,
Stochastic Momentum Index, Stochastic Oscillator - Fast and Slow, Stochastic RSI, Swing Index, T3,
TEMA, Time Series Forecast or Least Squares Moving Average, Trend Score, TRIX, True Strength Index,
Typical Price, Ultimate Oscillator, Vertical Horizontal Filter, VIDYA, Volatility Ratio, Volume Oscillator,
Weighted Close, Wilder's Smoothing, William's Accumulation/Distribution, William's %R,
Zero Lag Exponential Moving Average, etc

Trendlines, Fibonacci, Gann, Regression, et al in ChartAlert®

ChartAlert® Charting Module includes the fundamental construction tool of chart analysis viz. Line Studies.

Line Studies are tools that are used by traders to analyze chart patterns. They are plots that one draws or places on a chart to help interpret price movement. They are instrumental in measuring price-and-time relationship, that also include such characteristics as slope, channeling, retracement percentages, etc. Line Studies in ChartAlert® can be drawn, edited, deleted, zoomed, scrolled and saved for future use.

Vertical Lines, Horizontal Lines, and semi-log Trendlines

	Vertical and Horizontal Lines, and semi-log Trendlines, can be drawn, edited and saved by end-users in ChartAlert® Charting Module.

Fibonacci & Gann Studies in ChartAlert®

	Fibonacci Studies (viz. Retracement, Time Zone, Fan, Arc, Extension and Time Extension) and Gann Studies (viz. Gann Fan, Gann Grid and Gann Square) can be drawn, edited and saved by end-users in ChartAlert® Charting Module.

Regression and other Studies in ChartAlert®

Regression Studies, Text Toolbar and Price-Time Studies can be used to draw, edit and save in the ChartAlert® Charting Module. Training and Miscellaneous Studies are now expected in the future versions of ChartAlert®.

Masks in ChartAlert®

Masks are customized analytical layouts that are superimposed on a chart and are meant to be read along with the base security of a chart. While some of the TA Masks are designed, maintained and moderated by ChartAlert.com technical analysts, some are created automatically when an end-user works with charts.

The ChartAlert® Charting Module provides for three types of Masks: Technical Analysis or CAW Mask, Candlesticks Mask and ElliottWave Mask.

Technical Analysis (TA) or CAW Mask

The TA or CAW Mask is a template that has been designed by ChartAlert.com for the NSE F&O portfolio of stocks (120+ stocks), including the S&P CNX Nifty component stocks (50 stocks). The template allows you to see short-term, medium-term and long-term price channels, trendlines and important supports and resistances marked out on the chart. Since the channels and trendlines are based on closing prices, when the C@W TA Mask is applied, you'll see a Line chart layer predominantly superimposed on a faintly visible Bar chart layer. The purpose of the Bar chart layer is to give you an idea of what the day Highs/Lows would have been. The C@W TA Mask is maintained and moderated by ChartAlert.com technical analysts.

Candlesticks Mask

The Candlesticks Mask is a template that has been designed by ChartAlert.com for all the NSE Cash and F&O segment of stocks and BSE Group-A stocks. The template allows traders to see end-of-day, end-of-week and end-of-month candlestick patterns labeled on the chart.

The Japanese developed a method of technical analysis to analyze the price of rice contracts. Today, this technique called Japanese Candlesticks charting, offers a glimpse into the psychology of short-term trading activity, as it is able to show (visually) whether the buyer or seller has control of the market. The Candlesticks Mask tool can be powerful when used in combination with other technical analysis tools.

Candlestick charts use the same price data as bar charts (i.e. open, high, low, close). However, candlestick charts are drawn in a much more visually identifiable way typically resembling a candle with wicks on both ends. The high and low are described as shadows and plotted as a single vertical line.

The Candlesticks Mask has been designed to pick-up several Bullish and Bearish patterns, and several Reversal and Continuation patterns, as shown in the image below.

       

ElliottWave Mask

The ElliottWave Mask is a template that has been designed by ChartAlert.com for a limited number of stocks that comprise the limited portfolio of 20+ stocks analyzed in ElliottWave Advisory (a short- to medium-term advisory product published in ChartAlert® Advisory Module).

The template allows you to see short-term, medium-term and long-term ElliottWave price labels, ElliottWave channels and important supports and resistances marked out on the chart. Since the ElliottWave price labels and channels are based on High/Low prices, the ElliottWave Mask is applied on a Bar chart layer. The ElliottWave Mask is maintained and moderated by ChartAlert.com technical analysts.

       

Other Studies in ChartAlert®


 

Screener / Scanner in ChartAlert®

These are pre-defined (and customizable) technical indicator-based algorithms that scan over 3,000 NSE and BSE stocks for potential bullish and bearish signals. When applied to a defined set of stocks to return a select list of stocks that meet some filter criteria associated with that algorithm or formula, wherein the filter criteria is a valid range of values for the results of that scan, these sophisticated technical scanning programs help find stocks with the best potential for profitable moves, the output of which is then published in a grid format report.

The ChartAlert® Charting Module provides for three types of Scans: Technical Indicator Scans, Candlesticks Scans and Trading System Scans.

Technical Indicator Scans

Technical Indicator Scans are pre-defined (yet customizable) technical indicator-based algorithms that scan all NSE stocks for potential bullish and bearish signals, the output of which is then published in a grid format report.



With over 3,000 stock charts to look at every day on the NSE and BSE, professional analysts use sophisticated technical scanning programs to quickly find stocks with the best potential for profitable moves. ChartAlert® now makes many of those same scans available everyday on an end-of-day basis.

A Technical Indicator Scan is no more than a technical indicator-based algorithm or formula that is applied to a defined set of stocks to return a select list of stocks that meet some filter criteria associated with that algorithm or formula, wherein the filter criteria is a valid range of values for the results of that scan.

Let us look at the description of a simple Technical Indicator Scan: All S&P CNX Nifty stocks whose current 50-day moving average is anywhere above their current closing price.

In this example, the technical indicator-based algorithm or formula is the 50-day moving average formula, a defined set of stocks is the set of all stocks traded in the S&P CNX Nifty Group on the NSE, and the filter criteria is a value of the 50-day moving average above the given stock's current closing price.

To "execute" this scan, ChartAlert® must have at least 50 days' price and volume data for every stock listed in the S&P CNX Nifty Group. For every stock listed in this Group, it must add up the last 50 closing prices, divide the result by 50, and then compare that result to the current closing price. If the results are above that closing price, that particular stock is added to the results of the scan. If not, the stock is ignored. ChartAlert® then repeats the process for the next stock in that Group.

The starting point  --  after ChartAlert® has screened stocks on the basis of select Technical Indicator-based algorithms  --  is the Technical Indicator Scans Summary Report, wherein all stocks that have satisfied the scan criteria are displayed. Please refer the image shown below, where the shortlisted stocks in the Technical Indicator Scans Summary Report have been neatly organized by the groups they belong to.



From the Summary Report (shown above), one can further drill-down to individual Technical Indicator Scan Reports. For example, on clicking the link as shown in the image above, one can drill-down to the "Stocks in Uptrend (DMI/ADX)" Report to lookup the finer details of all the 18 stocks that have satisfied the criteria of Directional Movement Index.



All individual Technical Indicator Scan Reports (grid format) can be manipulated extensively, limited only by the end-user's requirements. For instance, the report can be sorted by any column, the splitter can be adjusted to freeze columns while scrolling the report horizontally, any column of the report can be dynamically re-positioned, etc.

The Technical Indicator Scan Reports also come with a set of Technical Events (or Parameters) which can be customized by the end-user to suit his/her needs. Special controls have also been provided in Technical Indicator Scan Reports wherein stocks could be filtered by Indices, and/or by industry classification or Sectors. Other special controls include the Sort function, and the Advanced Filter and Advanced Sort commands.

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 CAUTION:  Technical Indicator / Candlesticks / Trading System Scans included with ChartAlert® Charting Module are for
 educational purposes and are to be used at your own risk. Turnbull Advisory Services Pvt Ltd (or its partners) are not liable
 for the investment decisions you make based on information obtained from Scans.

Trading Systems in ChartAlert®

Trading Systems are a collection of powerful tools that keep you informed about the current technical status of a security. They are technical analysis-based trading strategies that contain complete trading rules and complex line studies, and bundle the logic with the visual presentation of potential trading strategies.

When a particular Trading System is enabled for a particular security, it will keep you informed on the status of the condition of that particular trading strategy for that particular security by displaying buy/ sell/ exit symbols on the chart.

These symbols provide a great way to mark points on the chart where specified trading rules or conditions of the trading strategy are met. For example, a buy symbol is placed below the price bar on the day when the trading rule for going long on the basis of closing prices is triggered.

Trading Systems can be used to improve performance given the following reasons:

they force you to do your homework before making a trade
they provide a disciplined framework, making it easier for you to follow the rules
they enable you to increase your level of diversification

The embedded or pre-defined Trading Systems that ship with ChartAlert® Charting Module have been designed on the lines of Advisory Products or Tools that are published through ChartAlert® Advisory Module, a technical analysis investment research & advisory software.

Based on the probable time-frame of a potential trade, Trading Systems have been classified as Short-term and Medium-term Trading Systems, with the Short-term Trading System carrying a higher risk associated with the trade execution, and the Medium-term Trading System carrying a moderate risk associated with the trade execution.

A Short-term Trading System has been designed to return larger number of potential trades in a given duration of time period, while a Medium-term Trading System has been designed to return relatively smaller number of potential trades in a given duration of time period.

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 CAUTION:  Technical Indicator / Candlesticks / Trading System Scans included with ChartAlert® Charting Module are for
 educational purposes and are to be used at your own risk. Turnbull Advisory Services Pvt Ltd (or its partners) are not liable
 for the investment decisions you make based on information obtained from Scans.