CandleStrength becomes paid site

CandleStrength, an online global financial and technical analysis portal floated by the city-based Alberg Software Limited, is slated to become a paid site from tomorrow.

The website which is designed to analyse almost all financial instruments covering stocks, bonds, commodities, forex and futures, in both the domestic as well as the global markets, has 2,000 free users at present.

The $25-million Alberg Software Limited, which has technology partnership with global industry leaders such as IBM and Sun Micro Systems, has fixed the monthly subscription at Rs 1,000 and is expecting 10,000 paid subscribers in the first year.

Speaking to Business Standard, Sharath Kaza, chief operating officer of Alberg Software, said that the portal, launched in December last year, is unique because it gives its clients not only a near accurate buy, sell and exit signal at exceptionally low time gaps but also provides other key trading suggestions, alerts and future warnings that minimise the possibilities of the investor making losses.

Elaborating on the features of the portal, CandleStrength's chief architect Dushyant Anand, said: "The portal has been designed based on the Candlestick investing signals being used by the rice traders in Japan since more than 400 years. We have designed CandleStrength as a mathematical model to measure the strength of each candlestick, and how it contributes to the trend of the financial instrument. Depending on market movements, it also generates warnings and future alerts so that the investor has a complete overview of future eventualities. It also allows the user to be forewarned for possible future movements. Historical data tested on the CandleStrength system has proven the accuracy of it's signals through various trading scenarios. It not only supports the Indian Stock Markets, but also caters to stock exchanges located all over the globe in 40 countries."

Candlestick analysis has been developed in Japan over the years simply due to the tracking of rice price movements. In the mid 1700s, they were fully utilised. Linking historical prices and weather movements, concrete interpretations were arrived at and today it is known as Candlesticks.

Japanese Candlestick analysis was never a hidden or secretive trading system. It was successfully used in Japan for hundreds of years. It has been only recently, about 25 years ago, that it first made its way into the US trading community.

Dushyant said that CandleStrength, unlike other portals, uses complex proprietary algorithms to generate exceptionally accurate buy, sell and exit signals for users to follow and invest with minimum risk.

"Depending on market movements, the portal also generates warning and future alerts so that the investor has a complete overview of future eventualities. It also allows the user to be forewarned about possible future movements. Historical data tested on the CandleStrength system has proven the accuracy of it's signal through various trading scenarios," he said.

Dushyant said that by using the CandleStrength trading system and following it's suggestions, a user stood not only to be well informed about the current market trends, but also about the future trend possibilities.

The portal also ensures that trading decisions are well planned and investments are well protected against any negative eventualities, he added."Unlike other portals, CandleStrength caters not only to advanced users but also to users with minimum exposure to technical analysis," he said.

"We are also planning to include real-time support for spot forex, commodities, futures, bonds, mutual funds, options, daily scan for worldwide indices stocks, interactive charting, user alerts and SMS and support for hand-held devices," Dushyant said.

He said that Alberg Software has also developed Applese, a rapid application development tool that enables organisations to rapidly build and deploy their e-business solutions such as Enterprise Resource Planning, Procurement and Customer Relationship Management solutions.

"Applese cuts down time and costs involved in building huge enterprise applications, reducing time to develop and deploy, and at the same time being cost-efficient. We are planning to launch the product shortly," he said.