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 Technical Analysis Masks are designed, maintained and moderated by ChartAlert.net technical analysts, some are created automatically when an end-user works with charts.
The Charting Module provides for three types of Masks: Technical Analysis Mask, Candlesticks Mask and ElliottWave Mask.
Technical Analysis (TA) Mask
The TA Mask is a template that has been designed by ChartAlert.net for the NSE F&O portfolio of stocks (200+ 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 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 TA Mask is maintained and moderated by ChartAlert.net technical analysts.
Candlesticks Mask
The Candlesticks Mask is a template that has been designed by ChartAlert.net for all the NSE Cash and F&O segment of stocks and BSE 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.net 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 the 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.net technical analysts.
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Summary of Advisory & Charting Features in ChartAlert®
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