Yes, that is what it is called, and the sig's okay, but needs some things. The border looks too large, I would make it 3 or 4 pixels. The effects are nice, but they spill onto the render a little too much.
Looks like you stretched your render a bit, be sure to keep the original proportions when placing it (unless it looks like that normally... but then...) lol Its nice, keep up the good work