Introduced from patch 17.5, Talismans are the new equipment and with them new powers and elemental resistances were introduced.
There are in total 6 different elements. The power of elements increases damage against monsters with the same element.
If you have a talisman in the slot, an elemental symbol will appear in front of the interaction bar.
The icons are rearranged from left to right according to the value of the highest percentage of power to the lowest value, if they have the same value, it is random.