The automatic wave counting feature of WaveBasis uses a sophisticated computational engine to search for and identify Elliott Wave patterns on any price chart. This allows you to very quickly label a chart with Elliott Wave patterns and valid wave counts.
Saves time
Traditionally, a typical Elliott Wave analysis would begin with an unlabeled price chart, then proceed through a sequence of steps to identify valid wave patterns and sub-patterns using manual calculations. This process is notoriously tedious and time consuming, taking several minutes to sometimes hours to produce a single high-probability wave count.
With WaveBasis this process is reduced to mere seconds, so that your Elliott Wave-powered analysis can begin with a completed, valid, high-probability wave count. This allows you to more accurately identify potential trading opportunities in a fraction of the time typically required.
More robust analysis
Beginning an analysis with a completed wave count (or counts, see Alternate Wave Counts gadget), not only saves you time, but it also means you can spend more time focusing on what is most important: how accurately a wave count captures the true context of a given market. This is key to identifying low-risk trading opportunities.
When combined with the Smart Tools and various Gadgets, automatic wave counts can provide the crucial foundation to trading Elliott Wave patterns like an expert. Additionally, WaveBasis includes exclusive capabilities for interacting with automatic wave counts which are not found on other automated platforms. One such example is the ability to modify automatically generated wave counts, for more advanced users.
This all adds up to more robust and comprehensive analyses – and better informed trades.
Automatic wave counts can be calculated for entire chart histories or sections of history, and at any time frame. There are also several ways to initiate a wave count, as well as some things to keep in mind when preparing to initiate one, as discussed in the following sections.
NOTE: Unlike other platforms, automatic wave counts in WaveBasis are completely interactive and may be edited. See Modifying Waves and Patterns.