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Charts

A "chart" is the focal point of much of what you do in the Charting Module. It is a visual or graphical representation of each security's prices in a single window. The 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.

The 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.

The Charting Module allows end-of-day chart data to be collected and displayed for any symbol, restricted to over 1400 NSE stocks, all NSE futures, 3000 BSE stocks, and all the leading BSE & 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.

The Charting Module provides 6 ways to view the pricing information:

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

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

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 the 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.

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 the Charting Module.

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 the Charting Module automatically applies it to all newly created charts. The default template in teh 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.